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The underwriter was part of Probitas’ founding team. -
Both Chubb and Zurich will underwrite the risks, with Nico as the sleeping partner.
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The facility provides up to $100mn in claims-made excess casualty coverage.
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The remediation process is on track for completion in the fourth quarter.
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The CUO described the pricing dynamics in the line as “strong and good”.
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Co-founder and CUO Jacqui Ferrier has been appointed his successor.
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In a post on LinkedIn, Steve Arora said investor appetite “just wasn’t there”.
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The Kelso and Arch-backed run-off player has retained Evercore to advise.
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London-based US excess casualty writers are increasingly looking to attach lower in the tower.
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He will oversee Ascot’s US and Bermuda insurance and reinsurance companies.
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Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
