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Layla O’Reilly and Mark Edwards are amongst the brokers leaving the firm.
The announcement comes a week after the institutional investor said it would accelerate its pivot to an insurance-led strategy.
The airline has exercised a break clause to renew its cover six months earlier.
The estimate covers property and vehicle claims.
Part of the syndicate’s premium for clinical-trial-funding cover will move to Syndicate 1902.
The executive has worked for JLT Re, Lockton Re, Willis Re and US Re.
The Hannover Re CEO said rate adequacy remains “attractive” overall.
Steven Crabb will become deputy chairman on the insurance solutions division.
The company has recently made several senior changes to its UK and Lloyd’s leadership.
The carrier is the first Fortune 500 company to take a stake in a League Two club.
California wildfires were the reinsurer’s largest H1 loss, at EUR615.1mn.
Rachel Sabbarton has been promoted to CEO at Lancashire Syndicates.
The repricing on the broker’s $3.1bn term loan will save an estimated $8mn per year.
A number of staff will be leaving the D&O team as a result of the restructuring.
The syndicate now predicts a return on capacity for 2021 of between -5% and 5%.
Connor O’Riordan has served as chief capacity officer and group head of corporate finance.
He joins from MS Amlin, where he was lead underwriter for US casualty.
Both organisations still predict an above-average hurricane season.
Tom Hester joined the broker in 2018 as SVP.
The Lloyd’s carrier is expected to try to claim multiple times under the policy.
The carrier cited elevated cat and large-loss activity, including the LA wildfires.
The reinsurer chair said the frequency of losses today “will prevent prices from slipping too much.
California wildfire losses were partially offset by improved underlying underwriting.
Plus, the latest people moves and all the top news of the week.
Competitor news
Competitor news
Competitor news
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ESG targets and the growth trajectory of renewables is attracting capacity to the class of business. -
Inflation, supply chain bottle necks and issues with emerging technology are all challenges for the sector.
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Haagen leaves after a 15-year tenure at Allianz, having been a board member of AGCS since early 2020.
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From our other titles
From our other titles
From our other titles
From Insurance Insider ILS
SCS model updates offer more robust basis for aggregate deals
ILS investors have fought shy of multi-peril aggs due to low confidence in SCS modelling.
From Insurance Insider ILS
The new wave of casualty ILS is extending the playbook of major life SPVs
Investors are drawing lessons from life deals to find new routes into insurance markets.
From Insurance Insider ILS
Cat bond funds outpace private ILS by 2.01 points in H1: ILS Advisers
The ILS Advisers Fund Index reported a profit of 1.11% in June.
From Insurance Insider ILS
Swiss Re’s nat cat premium volumes flat in renewals year to date
The reinsurer had $2.8bn of natural catastrophe business up for renewal in the year so far.
From Insurance Insider ILS
Conduit Re will ‘invite’ third-party investors as it expands ILS over time
The reinsurer has already dipped into the cat bond market with its Stabilitas Re retro deals.
From Insurance Insider ILS
Florida rates likely to remain stable through 2025: HCI CEO
With plenty of reinsurance capacity, CEO Patel said it’s been a “boring year” for treaty negotiations.
Insurance Insider US provides robust insights, sharp analysis and exclusive news on the London and global (re)insurance markets.
Insurance Insider ILS provides robust insights, sharp analysis and exclusive news on the global insurance-linked securities market.