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The broker named Matthew McCabe as MD of cyber broking with a brief to tackle complex cyber issues. -
The bond covers named storm, severe thunderstorm and winter storm in the Commonwealth of Massachusetts.
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Previously, Shaw was lead underwriter at MS Reinsurance and lead underwriter at MS Amlin’s Bermuda office.
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Chuck Scherer will report to Jonathan Reiss, chairman of SRS Bermuda.
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The current year performance marks an uplift compared to a tough 2022, in which Elementum delivered a loss to White Mountains of 4.6%.
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The ILS manager said returns on casualty ILS were "much higher than on the diversifying nat cat perils such as Italian quake or German flood".
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Howden Tiger worked on the structure of the deal with the unnamed syndicate.
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New language has been introduced by some insurers to limit exposures to cyber risks.
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The life segment has shifted from its genesis in mortality and morbidity risk transfer as lapsed risk deals have proliferated.
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Most forecasters predict below-average activity in the region – but opposing weather phenomena mean uncertainty is higher than usual.
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The bills place additional requirements on insurers in the state and expand consumer protections.
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Some cedants paid more than 40% increases depending on Florida concentration and Hurricane Ian losses.
