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Fee income dropped 24% year on year, as premiums ceded to other strategic partners fell by 7%. -
In its Q2 earnings call, CEO Kevin O’Donnell said that the company held its PMLs flat while taking the benefit of increased rate.
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The property reinsurance underwriter had joined Axis Re’s London team three years ago.
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The firm’s Medici and Fontana vehicles were hit by foreign exchange losses.
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The company’s property segment booked a combined ratio of 57.6%, 13.8 points higher compared to Q2 2021 due to a higher attritional loss ratio.
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Jacquet previously served for five years at Credit Suisse ILS.
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The executive will rejoin as EVP, reinsurance purchasing and risk capital optimization.
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As ILS players such as Vesttoo seek to grow beyond cat risk, Trading Risk looks at some of the questions surrounding how casualty ILS deals will operate and the amount of risk transfer undertaken to date.
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Floir stated that they "formally referred those insurers to the stability unit" after the legislation from the special session was passed.
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The insurance agents’ trade body also raised concerns over brokers’ E&O cover.
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Market orthodoxy suggests cross-class reinsurers secure more leverage – but are there too many implicit offsets in this game?
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The insurer said it believed climate change was making property risk less commoditised and more complex.
