Operations/tech
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The underwriting room will be open on Wednesdays only for all classes.
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The transfer of business to its Irish subsidiary will allow any state within the European Economic Area to carry on the business.
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Other key hires include Marc Bearman as head of specialty for marine and energy and Andrew Smith as CRO. -
The deal has received necessary regulatory approvals and White Mountains has pre-funded a portion of its capital contribution.
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The Corporation has also upped the e-placement target to 90% for Q2 2021.
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David Gallagher has left his role, after more than 26 years with the business.
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The InsurTech announced a partnership with Lockton Re earlier this month, and completed a fundraise in the fall.
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The London-based carrier has a 7.5% line on the account, which has proved difficult to place due to its loss history.
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The joint venture will focus on mid-market global property business, primarily in the US.
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The Davies Group owner outbid Abry Partners in the sales process for the broker.
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The losses stem from the Barzan gas plant in Qatar and a Tullow facility off the coast of Ghana.
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The insurer said its reserving was still adequate after the court supported its overall approach, but said biosecurity exclusions were not sufficient to decline claims.
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