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The firm announced CEO Trevor Carvey will retire and is returning to the UK from Bermuda. -
The deal is 45% larger than 2024’s issuance after attracting a “greater number of investors”.
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This will be the third cat bond issuance through Baltic Re PCC.
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The cat bond manager warned of excess downside risk owing to an accumulation of losses.
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The reinsurer had taken the opportunity to buy more limit across event and aggregate covers.
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The largest individual net loss at EUR230mn was caused by Hurricane Milton.
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The role will focus on international treaty, specialty lines and strategic advisory.
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The role oversees the $187bn Canadian pension plan’s ILS allocation.
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The cost of reinstatement was included in $170mn wildfire net loss figure.
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The terrorism pool has shifted its programme from facultative to an XoL arrangement.
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DaVinci equity plus debt stood at $3.25bn as of 31 December.
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The firm ceded $417mn of premiums to the sidecar in 2024.
