Accident and health
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The carrier announced a major writedown in its L&H book last year. -
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The US sports disability market has been dubbed the “problem child” due to its volatility.
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Probitas is set to grow by around 40% this year.
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The new European A&H business will be led by Samia Baliad, who joins the company from Axa.
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The brokers will focus on cross-border, high hazard risks.
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The A&H market had improved performance between 2020 and 2023.
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Another potential individual disability insurance loss of $40mn relates to a physician.
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Robert Rechtern has spent the last two years at Lockton as head of A&H, sport & contingency.
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The business will offer warranty, A&H and income protection products.
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The reinsurer’s A&H head Simon Parkinson left earlier this year to join Redriff Underwriting.
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Sources said the Bermuda carrier has been working with Jefferies on the sale.
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