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The InsurTech is disposing of some non-core business units. -
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Jamie Cann, previous head of aviation and space at the Fidelis Partnership, also joined Axa XL.
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Alex Nelson will work as head of power and renewable energy at the carrier.
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Robert Salzmann has been with the Swiss Re insurer for a decade.
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Castel founder Mark Birrell will take the role of executive chairman.
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The carrier has undertaken work to give it “optionality” for a public listing, but has no plans to list in the short term.
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The brokers will focus on cross-border, high hazard risks.
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Lloyd’s has taken around 6% of aggregate US hurricane losses in recent years, and disclosed estimated net losses from Helene and Milton of $1.8bn to $3.4bn.
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The transaction has received all required regulatory approvals and closed.
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The executive will also serve as an independent non-executive director of Gallagher in the UK.
