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Underinsurance, total loss claims, and high property values have impacted loss estimates. -
Andrew Tongue joins from Canopius, where he was deputy head of credit and political risk.
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Contour Underwriting is a specialty lines MGA.
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The firm pegged industry losses at $35bn-$45bn.
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The start-up has achieved an A- credit rating from AM Best.
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The annual claims totalled £5.7bn, the largest amount paid out in any year.
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Claims in recent months have brought a period of benign loss activity to an end in the class.
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The storm is likely to be one of the costliest weather events in Canadian history.
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The business will prioritise growth in the life segment.
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The executive has also worked for Guy Carpenter during her 20-year career.
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The government’s consultation ended on Friday (7 February).
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Michael Wade, who joined Helios in 2023, led the group’s portfolio-restructuring exercise.
