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Sources said the claim is likely to be a multi-hundred-million-dollar event. -
Genna Biddell will report to Brad Melvin, president and CEO, BMS Re US.
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CUO responsibilities will now be split out across senior underwriting leadership.
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The Australian carrier disclosed A$426mn in net cat losses during H1.
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Settlements could reduce seized aircraft quantum to the mid-single billions of dollars.
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The carrier is “extremely well capitalised” to achieve its strategic ambitions.
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The insurer disclosed the estimates as it seeks emergency rate hikes from regulators.
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The second half of the year was significantly more active for the legacy market.
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The upstream market has undergone a period of high personnel movement.
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The former Marsh aviation CEO is expected to join Lockton next month.
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The carrier enters H2 with a clean reinsurance programme.
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Newer swing products offer an alternative way to deal with escalating awards.
