Fidelis
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The carrier has put in place further curbs on metallurgical coal, tar sand extraction and fracking. -
How much capacity is available to meet rising cat reinsurance demands was a key theme throughout this year’s Rendez-Vous.
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Ratings agencies suggest that carriers must do better on controlling volatility – but diverging risk appetites give the lie to the idea that the industry is walking away from risk.
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George Green has been a war and terrorism underwriter at Fidelis since March 2021.
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The decision is in line with the responses from AM Best and Moody’s over the company’s reorganisation plan announced July.
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The ratings agency said the proposed restructure posed execution risk, but regulatory approval would alleviate short-term uncertainty.
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Class underwriter for marine hull and war at Talbot AIG, Hugo Lewis, has resigned to take up a position in the marine team at Fidelis, Insurance Insider can reveal.
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The move follows plans for a restructure of the carrier into a separate MGU and balance sheet.
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The reorganisation has cleared the first hurdle where many expected it to fall, but the balance sheet IPO was always going to be the harder exercise.
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The separation into an MGU and balance sheet has released far more value to investors than any other exit could have done.
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This publication broke the news in March that the Richard Brindle-led underwriting business was working on the radical company separation.
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The loss comes as rate rises decelerate in the class after several years of compound rate rises.
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