Bermuda

CEO Juan Andrade laid out the new targets in an investor day presentation in which he said the carrier will become a “digital first” (re)insurer.

The Bermudian start-up carrier adds professional lines to its growing list of product lines.

The exit follows news earlier this year that founding CEO Chris Fagan was stepping down to be replaced by Bruce Hemphill.

Davies most recently served as head of global Re specialty Bermuda for the firm’s reinsurance division.

Senior executives on the island saw the coordinated initiative as a clear long-term threat, but one that is mitigated by various other attractions of operating in Bermuda.

Axis Miami wrote direct and facultative property, political violence, energy, aviation and cyber risks, typically on a following market basis.

The carrier also promotes chief claims officer Kirsten Valder to chief administrative officer, effective 30 June.

Outside the US, two Indian cyclones are expected to have caused more than $4.5bn of economic losses.

The industry veteran is credited with having built Arch’s well-respected mortgage credit business.

The move comes amid a reassessment of ESG by (re)insurers.

The diversification benefits and complementary capabilities Validus affords AIG, along with the parent’s move to split its life and P&C operations, factored into the upgrade.

Ascot Group named Matthew Lillegard to its newly created post of group chief actuary on Wednesday, the latest in a flurry of hires.