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The Bermudian company wrote 70 percent more casualty and specialty premium year on year. -
Arch’s insurance and reinsurance net premiums written rise on the back of new business opportunities and rising rates.
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The company says it wants to “better align its operations, capital and resources" with its liabilities.
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The regulator has asked the carrier to disclose documents relating to staff compensation.
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The carrier said the claims stemmed largely from hurricane Dorian and typhoon Faxai.
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The transaction has now received regulatory approval and has closed.
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Bermudian carriers led the index higher.
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The launch follows the carrier’s decision earlier this year to put CatCo into run-off.
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Andrew Barnard will serve as CEO of new ILS platform Lodgepine with two colleagues taking on investment management roles.
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The executive left Aeolus last year having been with the fund manager since 2009.
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The executive was responding to questions over $26.4mn of reserve strengthening carried out by the insurer in the second quarter of the year.
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