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Kevin O’Donnell, CEO of the Bermuda-based company, said he expected reinsurance rates to rise in later 2019 renewals. -
Marvin Pestcoe replaces Craig Fowler who was appointed CEO of the start-up in March.
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Allianz said it would assist Pimco’s new ILS business through originating collateralised reinsurance and other investments.
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He moves across from the broker’s former securities division.
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The broker also announced a new life practice group.
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The new coverage provides Travelers with enhanced protection for its property business at what CFO Daniel Frey said was “an appropriate price”.
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A key question is whether retro dislocation will spill over into reinsurance renewals.
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Newer vehicles found it harder to get going as sidecar sponsors struggled to hit their fundraising targets in the January renewals.
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The fund manager’s scarce capacity contributed to a generally difficult retro renewal at 1 January for buyers
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The Dodeka XX notes were listed on the Bermuda Stock Exchange yesterday.
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Two transactions were issued on the Bermuda Stock Exchange.
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The transaction replaces an expiring $160mn deal issued in 2016.
