Treaty Reinsurance
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The former Validus Re CEO joined the reinsurance broker just under two years ago. -
The 2017 and 2018 wildfires have led to double-digit rate rises, reduced capacity and a more cautious attitude from reinsurers.
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The Mark Cloutier-led carrier reported improvement in its underlying underwriting result.
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A series of transactions that appear to benefit sister company AmTrust at its own expense raises questions about whose interest the firm is being run for.
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The new recruit joins after a 19-year international career with Axa XL.
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A mega-deal is not out of the question, but diversification will be a driver of transactions.
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Maiden sold the $800mn diversified reinsurance book to TransRe in August last year.
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Bermudian reinsurer Maiden Holdings reported a loss of $22mn in Q2
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Reserve strengthening for prior-year catastrophes lifts the overall loss ratio, while specialty line earnings improve.
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Business has scaled back allocation to hedge fund by $400mn and is targeting an underwriting profit by year end.
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The investment changes will support the company’s continued push into the property catastrophe space.
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Earnings per share easily exceeded analysts’ forecasts, while the overall and North American commercial insurance combined ratio both improved significantly.
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