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The vehicle is smaller by 8% as White Mountains’ participation grew. -
Andrade is taking up a CEO role at another “prominent financial services firm”, Everest said.
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The vehicle is yet to recover to 2021 levels of $235mn.
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Nicole Chase was central to the build-out of Mt Logan while at Everest.
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The firm has commenced writing collateralised retro and reinsurance but its rated launch is still pending.
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Everest is in the process of transforming its ILS offering.
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The ILS manager’s existing Medici cat bond strategy stood at $1.68bn in assets under management (AuM) as of 30 September.
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CEO Jonathan Zaffino said he saw opportunities for expansion in casualty.
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Management track record has been a factor in capital raising for 2025.
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The start-up has secured BMA approval as it looks to a 1 January kick-off.
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The headline figure of $7.72bn includes $3.11bn of DaVinci equity plus debt.
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Shareholders are voting to approve being wound up on 18 December.
