Chubb
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The claim hits the downstream market following a loss-hit start to the year. -
Jim Williamson said litigation funding had evolved into an investment class.
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The executive replaces Mike Warwicker, who left the firm earlier this year.
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Burford’s CEO said Chubb is inappropriately using its corporate power.
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Philip Enan joins following 11 years at Chubb.
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The programme will succeed the previous buyback launched in 2023.
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Both Chubb and Zurich will underwrite the risks, with Nico as the sleeping partner.
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AIG, HDI Global and others have settled. Chubb’s fight continues.
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The facility provides up to $100mn in claims-made excess casualty coverage.
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A positive outcome could significantly curb insurers’ exposure to the loss.
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Of the 178 passengers and crew on board, no serious injuries have been reported.
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Last year, the firm consolidated financial and excess liability lines under the leadership of Richard Porter.
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