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CEO Jim Williamson said social inflation was a “growing barrier” to a vibrant economy. -
The (re)insurer recorded a reserve charge of nearly $1.3bn within its casualty insurance book.
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Somers Re is valued at ~$1.3bn, according to disclosures made in Arch’s Q3 2024 SEC filings.
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He was appointed acting CEO earlier this month, after Andrade’s departure.
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The carrier tapped the run-off market in Q4 for a US casualty insurance-focused portfolio.
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Andrade is taking up a CEO role at another “prominent financial services firm”, Everest said.
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Christa Schwimmer has joined the leadership team alongside Stefan Golling.
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The reinsurer is buying out China Minsheng affiliate at year-end.
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The firm has commenced writing collateralised retro and reinsurance but its rated launch is still pending.
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Everest is in the process of transforming its ILS offering.
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CEO Trevor Carvey said the revision reflected Conduit’s “favourable reception”.
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In October, this publication revealed that the carrier had resumed IPO preparations.
