Conduit

Up to 50% of the carrier’s war loss stems from aviation, where litigation brews.

The start-up also revealed $15mn-$30mn in Ukraine losses.

Former Scor executive Antonio Moretti takes on the IR role immediately.

The start-up Bermudian reinsurer has focused initially more on quota share.

Gross written premiums came to $378.8mn in its first year of trading, with an indicative renewal rate increase of 13.7%.

CEO Trevor Carvey will relinquish chief underwriting responsibilities to focus on his group strategy role.

The firm said its preference for single class exposures had constrained growth in specialty lines as brokers sought to push different classes together in combined programmes.

Both pricing and terms improved in most of its core market, with the firm's year-on-year renewal net rate change for 1.1 business estimated to be +5%

The reinsurer announced its repurchase programme earlier this week to meet future obligations under incentive schemes.

The start-up reinsurer wrote $291.2mn in gross premium during the nine-month period.

Michelle Seymour Smith will begin her new role with immediate effect and will also serve on Conduit’s audit committee.

The start-up fell to a $12mn half-year loss as its new book of premium was relatively harder hit by a small Uri loss.