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The Florida-headquartered carrier blamed litigation rates and rising reinsurance costs for the move. -
SiriusPoint has hired Andreas Kull as its new chief risk officer, the Bermudian carrier announced.
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The cat bond market has priced a $20mn tranche of Safepoint’s 2019 Manatee Re cat bond for a full loss after Hurricane Ida as two regional, low-attaching deals are set to be impacted by the 2021 hurricane.
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Louisiana Citizens Property Insurance had booked $439mn in Hurricane Ida losses by 30 September, implying the disaster will nearly wipe out five of its six traditional reinsurance layers and two cat bond tranches, according to Q3 financials updated on its website this month.
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The Berkshire Hathaway-owned carrier is looking to make “major contributions” to the region.
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Markel said it has entered into consultation with staff at the ILS vehicle, which was launched in 2019.
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Ardonagh’s reinsurance business Inver Re has hired former Howden executive Nick Griffiths as a director.
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Axis Capital has signed up Patrick Witteveen, European head of investor relations at Securis, for a new role in its ILS division, Trading Risk has learned.
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Theo Norris has joined Gallagher Re as a dedicated cyber ILS broker, moving from his Aon Securities role as acting ILS assistant vice president.
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The pair will help to provide active flood data to market participants.
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Storm losses were down 30% to $13mn, but the prior-year result had benefitted from a one-off gain.
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The company confirmed its hire of Ian Wicks and announced Simon Arnott as a Bermuda executive.
