Compre
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The legacy carrier has also recruited former Axa Belgium chief Frank Koster. -
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.
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The new role for the former head of M&A is a strong signal that plans for a Lloyd’s platform are advancing.
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The capacity represents a pre-emption of 18%.
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Simon Hawkins will return to work as COO at the legacy company.
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The Europe-focused legacy firm has also been lined up to take the Syndicate 1969 run-off portfolio.
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Enstar, R&Q and Riverstone remain as the Willis-run process heads towards its conclusion.
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