PartnerRe
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The retro and specialty vehicle launch comes as PartnerRe expands in retro and ILS. -
The Bermuda reinsurer's net income per share fell 5% to $206mn during the period.
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The new chief joins from Hiscox ILS with a mandate to expand the reinsurer’s third-party capital platform.
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While brokers surveyed estimated rate rises of 5% to 10% over the last 12 months, underwriters’ estimates ranged from flat to up 30%.
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Nicholas Hughes will become retro head, while Guy Hengesbaugh and Aaron Coates join as underwriters.
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The reinsurer will still write treaty engineering, where it is still a key player for the market.
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The ratings agency says it is concerned about the impact of Covid-19 on the insurer and its future operating performance.
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The tie-up is part of a EUR1.5bn investment deal between the French mutual and Exor
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The incoming CEO plans growth in retro, cat and property per risk as pricing improves.
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Hannover Re’s Henchoz elected vice-chair of the 12-company-strong forum.
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The executive reports to P&C Americas CEO Jon Colello.
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The action follows similar moves by AM Best and Fitch after a proposed $9bn sale was dropped.
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