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Insurance Insider revealed earlier this week that the underwriter had resigned from Allianz. -
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The CEO said Ascot would deploy capital where it sees opportunities.
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Aviva and Direct Line struck the landmark deal in December.
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New CEO Eckert said Conduit had taken “decisive action” after the LA wildfires.
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Soft conditions have led to “less acute" underwriting discipline, sources said.
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The headcount at the start-up now stands at around 40.
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The carrier has also added AIG’s Alice Hawkins to its aviation unit.
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The market has broadened its risk appetite and infrastructure over the years.
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The exec said if he were a carrier CEO, now is the time he would start looking for deals.
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The reinsurer said the LA wildfires would have a “dampening effect” on mid-year renewals.
