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The underwriter will work on developing the Bermuda platform and strengthening the global property proposition. -
Cat bond pricing has fallen by about 12% since year-end but margins are still strong enough that the market could be set for meaningful growth, the broker forecast.
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The role will involve managing alternative capital strategies for the specialist lines insurer.
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The £50mn syndicate made most of its profits in aviation.
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The real test for cat capacity will come at the mid-year point, according to Gallagher Re.
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The recommendations await approval from the Florida Office of Insurance Regulation.
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The impact of the cyclone, which battered New Zealand in February 2023, was worsened by previous bad weather on the North Island.
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The reinsurance and ILS leader joined the firm in 2012 during a “rollercoaster” year for industry loss warranties.
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The facility will support quota share capacity with Anchor Re on behalf of SageSure carrier partners.
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Reinsurers are also increasing their attention on per-risk contracts protecting Japanese interests abroad.
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Most of the 708,255 claims relate to residential properties and arose from Lee County, Florida.
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On Thursday, the bill passed 23-15 in Florida's Senate, after passing the House last week.
