Axa XL
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Martin Vezina had held the chief underwriting role at the Axa XL ILS platform since 2015.
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Due partly to loss creep from Irma, ILS losses have been eked out throughout the year. -
Assets under management fell by around $5bn.
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The ILS investor says 7 percent annual returns have made the asset class an attractive opportunity for the fund.
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The government also said it is exploring the possibility of issuing a cat bond in the near future.
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The insurer also clarified that it has already cut its cat risk exposure.
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Axa XL is to cut cat exposure.
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The Lloyd’s business planning process is drawing to a close after a difficult year for London syndicates.
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This comes after the (re)insurer shifted away from offering market-facing ILS vehicles.
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The former XL Catlin chief operating officer is taking on an advisory role at the start-up which is developing a trading platform for (re)insurance risk.
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The former XL Catlin executive controlled one of the biggest portfolios of ceded reinsurance in the market.
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In a keynote address at the Trading Risk Rendez-Vous in New York, Daniel Brookman said the (re)insurer of the future will be “large, global and present”.
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