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The bond will provide cover for windstorm, hailstorm, flood and quake. -
Key names taking up senior roles at Validus include Sven Wehmeyer and Pablo Nunez.
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The deal values the Bermuda casualty re subsidiary at 0.75x book with James River to receive $138mn in cash and a $139mn pre-closing dividend.
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The worst of the damage was experienced in Brest, northwest France.
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Alexander will join after his competitive restrictions are up.
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Hiscox said outflows from the ILS unit were offset by "record returns" in Q3.
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The Smart Tracker Syndicate 5623 was established with the aim of delivering a ‘smart beta’ portfolio to investors.
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The carrier reported a Q3 combined ratio of 138.8% for casualty within the P&C re unit.
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The Bermudian firm said it expects the acquisition could drive more growth than the prior forecast of $2.7bn incremental premium.
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A credit loss owing to a fraudulent letter of credit from Vestto added 1 point to the combined ratio in Q3, insurance president Jeremy Noble told analysts during a conference call.
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Tim Mardon will become CUO at Aspen Bermuda Limited and a member of Aspen Re’s leadership team.
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The storm caused significant wind damage and flooding across parts of Scotland and England.
