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The CEO said the carrier will prioritise margin over top-line growth. -
The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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Nat-cat events triggered A$1.36bn of losses during the year.
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The overseas division booked a combined ratio of 94% for the quarter.
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As rate reductions present headwinds, firms are expected to moderate expansion.
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Beth MacGregor and Adam Vulliamy are also set to join from Axis Capital.
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The carrier also reported a slightly improved combined ratio of 94.6%.
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Net adverse development for the quarter increased 30% year on year to $89.2mn.
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The insurer has substantially expanded its marine team in recent years.
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Simon Clegg will leave Syndicate 609 after 25 years.
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The London carrier missed consensus on gross and net premiums for H1.
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Property MGA Arden Insurance Services specialises in multi-family habitations.
