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The group reported a 19.1% return on opening adjusted tangible book. -
The Kelso and Arch-backed run-off player has retained Evercore to advise.
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The legacy carrier reported an operating loss of $45.3mn for the year.
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The business will still look at large non-life deals in particular in-the-money ADCs.
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The process for the legacy book is believed to be in the late stages.
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Gallagher Re’s global head of retrospective solutions, James Dickerson, recently exited.
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The Bermudian legacy carrier is seeking a counterparty to manage the claims on the portfolio.
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Dickerson has spent over three years at the reinsurance broker.
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Hampden embarked on a new “intelligent follow” strategy in 2023.
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The reinsurance to close transaction is effective from 1 January 2025.
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The second half of the year was significantly more active for the legacy market.
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The restructuring arrangement is designed to protect creditors.
