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The club said the reduction was not reflected in court and that it had still seen no evidence to support a claim of such size.
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Maria Grace had been with Everest since 2016, and was previously an executive within AIG’s Lexington unit.
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There is increasing optimism about rating adequacy, but sustained underwriting discipline is essential.
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The experienced underwriter joins from the UK War Risks Club, where he was underwriting director.
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The move comes as Aon and Willis race to receive regulatory approval for their merger.
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He has spent nearly a decade at the broker and is due to start at his new role in October.
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His arrival comes in the wake of a series of departures from Validus Re’s specialty reinsurance team.
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The market veteran is launching the business via Fidelis’s Pine Walk platform with $100mn of capacity.
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Plus in-depth analyses of the accident and health and airlines markets.
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The Suez Canal Authority has detained the ship as parties discuss a disputed $916mn claim.
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The underwriting veteran returns to the market with an MGA hosted on the Pine Walk platform.
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The insurer has been expanding its marine presence in London.