Fidelis Insurance Group
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This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega. -
The new recruit will report to group CUO Ian Houston.
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Plus, the latest people moves and all the top news of the week.
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Besides Russia-Ukraine losses, the Air India crash losses totaled $26mn.
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Net adverse development for the quarter increased 30% year on year to $89.2mn.
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How is The Fidelis Partnership choosing to launch into new insurance classes as it rapidly expands?
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The event was co-hosted by The Fidelis Partnership and IDA Ireland.
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The carrier said it is disappointed with the English High Court’s decision.
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She will continue to work with the executive team on key projects and initiatives.
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The company has settled, or is in the settlement stage, for 80% of the exposure.
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The Bermudian's first quarter cat losses totalled $333.3mn, compared to $103mn a year ago.
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Erik Manning is joining the business from BMS as head of ceded reinsurance.
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The MGA will be Pine Walk’s 13th start-up.
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Jonny Strickle became the group chief actuarial officer for the carrier in 2023.
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The firm projects losses from the fires at between $160mn-$190mn.
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The group's reinsurance book was also hit with cat losses during the quarter.
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In tandem, it pegged its net cat loss estimate from California wildfires at $160mn-$190mn.
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After one good year, giving back margin now will be “inexcusable”, the executive said.
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The partnership is Fidelis Insurance Group’s first third-party capacity deal.
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Cat losses increased 14.6% to $91.6mn, driven by Hurricane Helene and Storm Boris.
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The marine underwriter said the business had grown through taking “very big positions” on programmes.
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The IG’s $3.1bn reinsurance tower is facing double-digit pricing increases in the wake of the Baltimore bridge disaster.
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The announcement comes a week after the launch of international property MGA Seraphina.
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Kelly Sanders has returned to the Fidelis group to lead the unit.
