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Piotr Nowakowski joined Peak Re in January from Echo Re and was previously head of product underwriting for Peak Re’s P&C business. -
The carrier is in growth mode in reinsurance following a period of caution, owing to pricing concerns.
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The purpose of the agreement is to allow insurers to meet the guidelines set forth by Fannie Mae and Freddie Mac.
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The Hong Kong-based carrier and its backer have been placed on negative review by the ratings agency, prompting questions around its future.
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The insurance agents’ trade body also raised concerns over brokers’ E&O cover.
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The release followed an appeal judgment from the High Court of Australia.
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The rate-on-line index rise is the steepest uplift in 16 years.
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The $2.5bn includes $1.45bn of newly placed limit and $1.06bn of existing coverage.
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The Financial Services and Markets Bill could be published next week.
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Guy Money, global head of product at AGCS, has been appointed global head of multinational business.
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The coverage secured represents higher average insured values compared to last year.
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Mitsui, Tokio and Sompo are to split the loss, which will be absorbed by retentions and property XoL treaties.
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