Scor
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The CEO said the French reinsurer will avoid court cases where possible in pandemic coverage disputes. -
The Principles for Responsible Investment were launched in 2006, with Hannover Re, Liberty and Everest Re among other signatories.
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The additional raise takes the carrier’s committed capital to $3.2bn.
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The start-up makes its first appointment directly from Hiscox, where Inigo founder Richard Watson worked as CUO.
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The management liability market underwent huge hardening last year as major carriers withdrew.
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Fellow founder Will Thorne will take over the leadership responsibilities and manage its second fund.
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Kessler will continue as chairman after the handover, while the incoming chief will start out as deputy CEO.
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The current chief says the governance structure will evolve in a “new phase” for the reinsurer.
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Emmanuel Clarke, Frédéric de Courtois and Benoît Ribadeau-Dumas reportedly compete with insiders including Laurent Rousseau.
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The French mutual and its CEO say they will contest the ruling issued on Tuesday by a Paris court.
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Separate criminal proceedings brought by the French reinsurer against the mutual and its chief have yet to be heard.
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AIG shares climbed 13% to $37.52, compared with a 1.2% increase in the overall S&P 500 index.
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