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The CEO received $3.9mn in shares alongside his salary and bonus. -
The investment firm’s ILS holdings were worth around $746mn at year-end 2022.
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Also formally joining the board are Carlyle’s managing directors James Burr and Jitij Dwivedi, and Adam Halpern-Leistner, director at Hellman & Friedman.
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The reciprocal’s purpose is to deliver additional US property catastrophe capacity to existing and new policyholders of Victor's subsidiary, International Catastrophe Insurance Managers LLC.
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The bond was initially launched as a $175mn cat bond, fronted by Hannover Re.
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O’Donnell will focus on strategic and tactical operations within global reinsurance alongside his continuing responsibility for Chubb Tempest Re USA.
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The private equity house's previous cat bond raised $50mn of parametric coverage.
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The broker will also work to support traditional reinsurance and retro activities.
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The carrier has also narrowed the pricing on its Class A and Class B notes.
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The new SPA will write cyber reinsurance initially and could progress to writing insurance.
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The cyber MGA can now serve clients in Italy, Spain, Ireland, Sweden and Denmark.
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Damaging hail and wind hit Texas, Arkansas, Mississippi and Georgia.
