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Somers Re is valued at ~$1.3bn, according to disclosures made in Arch’s Q3 2024 SEC filings. -
The reinsurer has made improvements to its life and health segment, it said.
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The carrier has received more than 3,600 claims from LA wildfires.
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Nick Hawke is coming out of retirement to take on the position.
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By March, firms must be able to show they can remain within impact tolerances.
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Prominent Name Dhruv Patel is the firm’s founder.
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The reshuffle follows the departure of board chair Tsuyoshi Nagano.
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The 2024 loss figure exceeded that of the previous record of C$6.2bn in 2016.
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It has been a “good” bad renewal for cat reinsurers, with attachments likely to endure in the medium term.
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In the US, pricing fell by 6.2% at the major renewal.
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Certain new and old themes will re-emerge this year as the balance of power shifts.
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