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Sources said they expected FM to keep around $2bn of the maximum line net. -
The broker has analysed the differences in wildfire risk between Northern and Southern California.
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The capacity backs the reinsurance underwriter to cover international risks outside the US.
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The specialty reinsurance market is experiencing high competition and staff turnover.
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Barry Gale has spent almost five years at the broker.
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Syndicate 2047 is set to launch on 1 April, managed by Polo.
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The facility is backed by a consortium including Arch, Munich Re Specialty and Scor.
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The LA wildfires resulted in the largest insured loss of the year, at $40bn.
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Georgina Meyer joins the broker as executive director of UK property.
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The executive will take the position left vacant by Alain Bizet, who moved to lead Chaucer LatAm in Miami last year.
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November hailstorms and current storms and bushfires racked up claims.
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Fresh from a deal with QBE Re, the investment firm discusses drivers of casualty ILS growth.
