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The new capacity for the sidecar first launched in 2019 will be invested solely in EBRD bonds.
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He will take over from current CEO Rupert Swallow next month.
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The carrier's 2020 net loss estimate remains intact after the buffer for potential Australian BI losses.
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Plus a mixed week for Lloyd’s, the asbestos potential of Covid-19 claims and a round-up of our most-read stories from the week.
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The outgoing finance chief will stand down in July but stay on in an advisory capacity until the end of the year.
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But Barclays warns the judgment could result in more substantial loss creep for major European reinsurers.
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Scully fills a gap left by the departure of Steve Hartwig to Ark last year.
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The additional raise takes the carrier’s committed capital to $3.2bn. -
The mixed ruling delivered by the High Court meant insurers escaped from worst-case loss scenarios.
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The start-up adds Angus Hampton as head of international casualty and reports a quota-share focus during the renewals.
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The capital supports the MGA’s excess retro portfolio.
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The new classification will allow the carrier to increase GWP and third-party risk.
