Bermuda
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Axis estimates Hurricane Ida will be a $35bn industry loss event while the European floods – from which Axis expects a $55mn bill – are projected to cost the industry $13bn.
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The figure was lower as a proportion of shareholders’ equity compared to RenRe’s Q3 loss.
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The (re)insurer pegged industry losses from Ida at $30bn and increased its share buyback program to $1.5bn.
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The carrier also estimated its European flooding burden will be $520mn.
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Kate Vacher has taken on the role of CEO for the reinsurance broker’s Bermuda entity and will report to Angus Milgate, head of international treaty reinsurance.
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Tiny Bermuda has been hit hard by coronavirus in September, with more than half the island’s pandemic’s deaths coming in last month
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Markel reported that investigations by the DoJ and SEC have concluded with no penalties or action taken against the company.
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Ariel Re hires its first cyber head as the Bermudian seeks a deeper role in the evolving sector.
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Plus the details on CFC’s sale process, the latest on Ida and all the top news of the week.
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The planned disposal of the syndicate underlines the challenges the cohort of Bermudian entries has faced.
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The executive joined Vantage on Monday, after spending the last 10 years at Axa XL.
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Ark raised $70mn in a debt offering last week, after raising €39.1mn and $47mn in July and August, respectively.
