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The ratings agency said a high degree of uncertainty around ultimate exposure is likely to be long-lasting and will fuel rate strengthening in affected lines. -
The first-of-its-kind deal blends bank financing with ILS funding.
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Political violence and aviation coverages had been thrown into marine composites as the market softened.
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Courts in Bermuda and the US approved the move, which had earlier been subject to investor litigation.
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The reinsurer said it was anticipating increased volume for catastrophe bonds and collateralised reinsurance this year.
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Cornell Fox joins as head of investor relations and business development, while Masa Kitade has been enlisted as head of business development for Asia.
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Plus booming broker growth; GRP, Covea UK and James River sales; and all the top news of the week.
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Many ILS firms opened 2022 with reduced assets under management, in a bearish signal for the mid-year renewals.
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The team will not offer an ILS product but plans to invest in insurer capital-relief instruments as part of a new asset management play.
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The former MS Amlin head of reinsurance takes up the CUO role next week.
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Negotiations were dragged out by decisions being referred for sign-off at senior levels.
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Reinsurers have held the line more strongly than last year but rising risks may offset gains.
