RiverStone
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Some 39% of respondents expect deal volumes to increase in the next 12 months.
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The vehicle will give the legacy carrier a US platform.
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CEO Luke Tanzer talked about the expansion drive as the legacy firm reported a 14.3% RoE for 2023.
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The seller is facing an uphill struggle convincing its legacy rivals that there is strategic value in the merger deal.
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Catalina put its Irish subsidiary up for sale in May as it looks to streamline operations.
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The market has suffered from a glut of capital, and a number of structural features that make winning hard.
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Thomas is also non-executive director of IQUW Syndicate Management, while Vasquez is a NED of Allianz Holdings.
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The coverage supports a series of recent Lloyd’s transactions, including the £1.2bn MS Amlin RITC.
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The CVC-backed legacy player edged out Enstar in the process which was run by Gallagher Re.
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The transaction covers net reserves for losses and loss expenses of approximately $400mn and provides ground-up cover to a policy limit of $605mn.
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The process has been narrowed, with parties including Catalina and Premia not going forward.
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