Bermuda
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Besides Russia-Ukraine losses, the Air India crash losses totaled $26mn. -
Peter Vogt will act as a strategic advisor at Axis until the end of 2026.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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Net adverse development for the quarter increased 30% year on year to $89.2mn.
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Property MGA Arden Insurance Services specialises in multi-family habitations.
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The announcement comes a week after the institutional investor said it would accelerate its pivot to an insurance-led strategy.
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The company bolstered casualty reserves by $18mn, mostly from discontinued lines.
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The carrier reported an increase of 82% in pre-tax income.
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The move will impact around $50mn of gross written premiums in total.
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Cat losses of $1.5mn, net of reinsurance, were primarily due to severe convective storms.
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CEO Alex Maloney said Lancashire’s growth was “more measured” amid softening.
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