MS Amlin

Group CEO Noriyuki Hara told NikkeiAsia the company was targeting groupwide adjusted ROE of 10% by 2025.

Execution of the legacy transaction ticks off another major piece of work for MS Amlin in its turnaround of Syndicate 2001.

The carrier also recorded a deterioration in investment performance amid financial market turbulence.

His departure comes after a phase of rebuilding the carrier’s commercial property team.

The vehicle was upsized by 20% from 2022.

Having joined the company in 2016, the executive was working as a lead underwriter in LATAM prior to the announcement.

As a decline in InsurTech investment continues and risk capacity providers reconsider their support, sources expect many InsurTech MGAs will have to review and potentially pivot their business models.

Andrew Carrier’s appointment as CEO was announced in October, with Andrew Slabbert taking on the top role at MSIG in the US.

The CVC-backed legacy player edged out Enstar in the process which was run by Gallagher Re.

The pub group and bakery chain will dispute elements of judgements issued in October in UK Covid-related BI lawsuits.

The carrier also posted £97mn of Ukraine losses and a £157mn investment loss.

The Lloyd’s carrier said the strategy will support profitable growth, attract staff and help meet regulatory requirements.