QBE
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The underwriter will be based in southern California and lead global strategy in cyber for the insurer.
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Plus the latest executive moves and all the top news of the week.
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Sir Keith Skeoch takes over from Tim Ingram, who has retired after nine years as chairman.
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The cross-line facility launch – in a generally firm market – suggests that the tech-driven era of facilitisation is continuing to gain pace.
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The facility will be the largest to launch since Aon Client Treaty in 2016.
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The underwriter will work on developing the Bermuda platform and strengthening the global property proposition.
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The deal includes a diversified book of international and NA financial lines, European and NA reinsurance portfolios, and several US discontinued programs.
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The syndicate said that claims were “marginally worse” than expected in 2022, but manageable.
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The result represented a 4.2-point deterioration from previous mid-point forecasts.
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Erica Kofie and David Warr move up in the cyber team.
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The group restructured its aggregate reinsurance protection and simplified the top layers of its main cat treaty.
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The deal regards international and North America financial lines, European and North American reinsurance portfolios, and several US discontinued programs.
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