Zurich
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Plus, the latest people moves and all the top news of the week. -
The (re)insurer used alternative capital in the reinsurance coverage.
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Cat losses for the quarter added 3.2 points to the carrier's combined ratio.
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Both Chubb and Zurich will underwrite the risks, with Nico as the sleeping partner.
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Joanne Barry will be joining the team at Zurich.
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The facility provides up to $100mn in claims-made excess casualty coverage.
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The process for the legacy book is believed to be in the late stages.
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The strategic investment supports Icen’s international ambitions.
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The executive said the firm had to focus time and investment on the most meaningful projects.
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The carrier pegged its California wildfire losses at $200mn pre-tax.
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The appointment is a “major part” of Zurich’s global strategy, the company said.
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The carrier is seen as a likely target of Lloyd’s ‘Big Game Hunting’ strategy.
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