Everest
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The carrier has made significant investments towards launching in numerous primary specialty classes in London.
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The decision was motivated by some overlap in business transacted between the US and London operations.
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The appointment comes as Everest continues to forge ahead with its international insurance growth strategy.
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It is understood that Everest acquired XL’s insurance license in Mexico from Axa, which already had one in the LatAm country when it acquired XL a few years ago.
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The carrier has launched into downstream energy, marine and aviation in the past year.
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The cat XoL rate increase in Europe was over 40%, while the average attachment point of the global property cat business increased “meaningfully,” he added.
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The Bermudian reported $15mn in catastrophe losses for the quarter, down from $125mn in the same period last year.
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The Spanish branch is part of Everest’s strategic expansion into international insurance.
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The former reinsurance CEO had previously parted ways with Bob Cooney after working together on a reinsurer start-up last year.
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The carrier is expanding its A&H appetite in London as part of its international insurance growth strategy.
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With a four-decade-long career in global financial services, McNeilage also serves on the boards of the Reinsurance Group of America and Scholarship America.
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