Compre
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He has spent more than six years at the legacy firm in various senior claims roles.
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The outgoing NA CEO joined the legacy carrier in 2022.
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The legacy carrier has acquired two portfolios of European casualty and motor liabilities from two separate insurance groups.
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He will be responsible for driving the use of technology and data across the business.
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The market has suffered from a glut of capital, and a number of structural features that make winning hard.
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The portfolio comprises of large deductible and guaranteed-cost workers’ compensation policies.
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Last week, SiriusPoint and Compre signed an LPT deal covering $1.3bn of reserves.
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The deal is the latest incidence of bumper transaction size in the legacy space.
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The business is being advised on the potential transactions by Howden.
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The legacy specialist has made its second foray into medical professional liability.
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The portfolio consists mainly of underwriting years 2004 to 2018.
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The redomicile is part of a diversification strategy to broaden the carrier’s focus from Continental Europe to Lloyd’s and North America.
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The legacy carrier will use the proceeds to refinance existing debt.
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Robert Margetts becomes the latest senior departure from Compre, following the exit of chief development officer Eleni Iacovides.
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David Presley joins Compre while the legacy carrier is targeting expansion in the US.
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The executive joined the legacy specialist in June 2020.
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Brid Reynolds will be responsible for the oversight and development of risk functions globally.
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The legacy carrier has also recruited former Axa Belgium chief Frank Koster.
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Connie Tregidga and Marialuisa Petrella are both qualified lawyers.
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Competition has ramped up over the last two years and now represents a threat to returns.
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Apollo Syndicate Management will manage the new 1994, which starts out with $125mn of net reserves.
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The new launch will be managed under an Apollo turnkey, and looks set to take on run-off liabilities from the Lloyd’s carrier.
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It is understood the book will be reinsured to close into Compre’s new legacy syndicate once the launch is approved.
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The move follows Axa LM's decision to cease bidding for new external deals, revealed in September last year.