Ark Underwriting
-
Stokes has been with Pillar for nearly four years. -
The combined ratio included 17 points of catastrophe losses in the third quarter.
-
The carrier also reported a $16mn satellite loss during the quarter.
-
-
The renewal included $130mn from White Mountains, considerably less than the $205mn Ark’s parent kicked in for 2023.
-
The Bermuda sidecar was established last year to support property cat underwriting in a hard market.
-
The carrier experienced three large claims in Q2 in the property and marine and energy lines of business.
-
The reinsurance sidecar was formed in Q4 to provide collateralised reinsurance capacity for Ark's global cat portfolio.
-
TigerRisk Capital Markets & Advisory acted as exclusive structuring and placement agent for the reinsurance sidecar.
-
Outrigger Re will write a quota share of Ark’s Bermuda property treaty book.
-
The two Lloyd’s players are the first to bring sidecars to market as they seek to capitalise on surging projected returns.
-
From ESG to social inflation, systemic risk to cat risk, we highlight some of the top discussions from this year’s four-day virtual conference.
