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The broker said it would help clients to think creatively and act quickly in accessing capital. -
The broker said some reinsurers were planning for significant growth in property catastrophe as demand is expected to pick up pace.
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The former Gallagher Re broker is the second departure from the firm in Bermuda since the Willis Re sale.
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The appointment to the ILS unit follows news of Howden’s move to buy TigerRisk.
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The property reinsurance underwriter had joined Axis Re’s London team three years ago.
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The rate-on-line index rise is the steepest uplift in 16 years.
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Its total risk transfer programme is sized at just over $9bn, down $400mn from year-end 2021.
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The scope of McCann’s new role spans across various property segments, including retrocession.
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After securing a $1.6bn deal to acquire TigerRisk, Howden said the transaction will create a “much-needed fourth global player” in reinsurance.
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The intermediary’s reinsurance solutions business has appointed Joanna Parsons as it looks to expand its capital advisory unit.
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Sources indicated talks have been conducted using an adjusted Ebitda figure for TigerRisk of around $85mn-$90mn, which is far higher than previously thought.
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The broker said its capital markets unit would be “fully aligned with the broking and analytics teams.
