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The consortium backing the MGA is led by Axa XL Syndicate 2003.
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However, some syndicates are planning more significant growth following hires or strategic shifts.
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The executive is likely to be out for a couple of months while he recovers from surgery.
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One of the key issues identified was that employees did not feel able to speak up, sources said.
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The CEO said the carrier’s hurricane exposure has remained static in the last few years.
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CEO Alex Maloney hailed the results as the “best ever half-year performance” for the carrier.
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Market-wide testing is not expected to start until late Q4 this year or Q1 2025.
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The shift to private market fundraising should be a meaningful boost to this and other initiatives.
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The executive also said there had been a “step change” on culture in the market.
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Plus the latest people moves and all the top news of the week.
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Morant will be CEO, with Jardine chairman and Reith on the board, it is understood.