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Activist investor Voce had previously criticised the performance of the firm's international businesses. -
Jim Lye becomes acting active underwriter at the Lloyd’s insurer.
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The German insurer has placed a new EUR200mn worldwide cat agg deal.
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The long-serving executive is to depart as clutch of other Australia-based staff resign.
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The MGA had established the PCC as a way to align underwriting interests with its paper providers.
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The firm is expected to engage with both PE and strategic players in search for "permanent" capital.
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The move comes as a broader range of better performing syndicates are told they can “file and use” 2021 plans.
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The new hire comes amid fierce competition for talent in the broking space.
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The carrier will streamline management and products and cut a total of around 700 roles.
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The business was put up for sale as a byproduct of Willis’ own deal with Aon.
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Dominican Republic firm Refidomsa ran a request for proposal process earlier this year.
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The executive returns to underwriting after three years at the broker.
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