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The MAPA will allow APCL clients to participate in a portfolio of syndicates without the need to own the underlying capacity. -
Fish Bond Re will provide coverage for any named storm in Texas on an indemnity, per-occurrence basis.
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Profits are expected to widen thanks to improved rates and higher average attachment points.
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Coburn will report to Jason Busti, Axis Re president of North America.
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This latest funding round brings total committed capital for the collateralized reinsurer to $75mn.
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The firm’s follow-only Syndicate 2358 has grown its stamp by 67% to £150mn.
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The ratings agency said premium rate increases for specialty lines would be most pronounced in political risk, terrorism and political violence lines because of heightened geopolitical tensions.
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AuM stood at $1.5bn as of 30 September, up from $1.2bn as of January 2023.
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The Floridian was approved for 75,000 policies, made 72,958 offers and assumed 53,750 policies – a 74% acceptance rate.
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The second iteration of the Bermuda sidecar has brought in additional investors.
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Martin Ford joins the broker following a 26-year-stint at Gallagher Re, formerly Willis Re.
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Aon-owned Mexican cat modeler ERN estimated Otis insured wind losses, excluding auto and infrastructure, at $1.2bn-$1.8bn.
