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The carriers insuring VW’s D&O policies have agreed to pay out claims due to damage inflicted by previous executives in the emissions scandal. -
The carrier will mobilise 3,000 general agents plus distribution partners to make offers on an “unprecedented scale”.
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The expansive syndicate was one of several players to join the D&O market after dramatic rate rises last year.
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Falcon Risk Holdings will initially focus on financial and cyber lines in the US.
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Investors in London-based insurer include specialist InsurTech backer Mundi
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The aspiring carrier is already providing risk-transfer deals for carbon offset buyers but plans for its initial underwriting to be focussed in more traditional areas.
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Rob Green transfers from AGCS London while Rick Hornby joins from NFP.
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The underwriting executive will oversee lines including cyber, D&O and casualty.
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Reinsurers are clamouring for proportional business, while maintaining excess-of-loss rate rises at 1 January levels.
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Ascot Group named Matthew Lillegard to its newly created post of group chief actuary on Wednesday, the latest in a flurry of hires.
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The Gallagher MGA said current market conditions made it an ‘ideal time’ to invest in D&O.
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Two former Axa XL financial lines underwriters join the start-up.
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