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The outgoing CEO said the market had been restored as a leader during his tenure.
The reinsurer confirmed Andrew Phelan’s exit, as of 15 May.
Frustration is growing around a promised independent operating model and staff reward.
Last week, TSR updated its forecast and is now predicting above-average storm activity.
The total cost excluding a 15% quota share was $201.85mn, with rates down 12.2% from last year.
Most of the losses are attributable to a supercell storm in Texas.
The executive replaces Mike Warwicker, who left the firm earlier this year.
A 20% increase in FHCF retention levels sent cedants to the private market.
Bredahl has been appointed CEO and Bonneau as chairman.
This will allow Ark to write business on surplus line paper and Lloyd’s business.
TMGX is designed to help insure the green transition.
The changes are aimed at improving underwriting and operational performance.
The dropped process is JC Flowers’ second attempt to sell the international broker.
Starr and Axon also are among those exposed to the Marsh USA-placed $40mn line.
The Corporation is poised to accelerate its investments in start-ups.
Burford’s CEO said Chubb is inappropriately using its corporate power.
There have been several personnel moves in the fast-growing tax insurance space recently.
Politically related exposures are growing for the marine market.
LA wildfire losses are impacting the 2024 years of account, Argenta noted.
Markel is prominent in the growing smart-follow market.
It previously predicted activity slightly below the 1995-2024 average.
New capacity is fuelling competition for talent in the class of business.
The executive will also continue as MD overseeing Caribbean fac.
Competitor news
Financial news
Financial news
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The specialty MGA has been pursuing an M&A strategy in recent months. -
PartnerRe's $5mn commitment will enable the MGA to expand its D&O line size.
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The broker has recently unified its global financial lines practice.
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From our other titles
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From our other titles
From Insurance Insider
Elevated risk expected for 2025 NA wildfire season: Burns & Wilcox
Up to nine million acres of US land are considered likely to burn.
From Insurance Insider ILS
‘Innovative capital structures’ on the rise: Howden Re’s Fox
Fox highlighted the increasing role of alternative capital and creative financial vehicles.
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Swiss Re’s nat cat premium volumes flat in renewals year to date
The reinsurer had $2.8bn of natural catastrophe business up for renewal in the year so far.
From Insurance Insider ILS
Conduit Re will ‘invite’ third-party investors as it expands ILS over time
The reinsurer has already dipped into the cat bond market with its Stabilitas Re retro deals.
From Insurance Insider ILS
Florida rates likely to remain stable through 2025: HCI CEO
With plenty of reinsurance capacity, CEO Patel said it’s been a “boring year” for treaty negotiations.
From Insurance Insider ILS
Retro and ILS specialists Stubbings, Bailey leave McGill for Miller
The team will focus on building out Miller’s property treaty, retro and ILS capabilities, it’s understood.
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