Bermuda
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The reinsurer anticipates a $175mn hit from Covid-19 claims during the quarter. -
The move comes as environmental policies move up the list of investor priorities.
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The retro specialist joins the firm as it prepares to expand its reinsurance interests after spinning out of Willis.
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The Bermuda (re)insurance trade body elects officers for 2021-2022.
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The new Bermuda venture launched at the beginning of the year as part of the business’s scale-up.
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An unnamed investment manager posited a Watford bid worth about $21/share around four months before Arch’s eventual $35-per-share takeover agreement.
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The retirements follow the appointment of five new directors since 2018 amid a revamp of the carrier’s board.
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The ratings agency said supply-demand dynamics had improved, but thinning reserve cushions could prove a headwind to companies.
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Ex-Ariel CFO Angus Ayliffe becomes the latest member to join the team, which Jeff Clements will lead.
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He is replaced in the role by Shannon Lowry Bender, who starts work on 1 January next year.
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CEO Greg Hendrick said the composition of the new carrier would eventually be more heavily weighted to insurance business.
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Reardon, Dudek and Roberts are all set to be reunited with former colleagues including Jeff Clements.
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