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Brian Boornazian will take on the role of executive chairman, with Emil Issavi as CEO. -
The ratings agency said 17 companies, including some recently acquired and the state’s major listed carriers and subsidiaries, appear on track to secure A ratings.
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Short-tail underwriting earnings almost double, while long-tail slips into the red.
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Aon has said it expects the economic cost of physical damage and business interruption caused by the polar vortex-linked cold snap to “well exceed $10bn”, in an Impact Forecasting report released on Thursday.
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The reinsurer’s ceded major losses were down 2% year-on-year, despite its net retained cat losses spiking by two-thirds to EUR1.6bn.
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The agency withdrew its rating on American Capital Assurance and expects to deliver a complete review of the Floridian insurers it follows by 19 March.
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Ageing infrastructure is a more obvious culprit for the high insured losses, BMS’s Andrew Siffert said.
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The erstwhile suitor cites falling valuations for residential property technology companies.
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Simon Moore has joined Lockton Re as a senior broker in the company’s non-marine retro and property specialty team, based in London.
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Significant moves over the past month included the appointment of Chris Parry as global head of RenaissanceRe Capital Partners and the departure of Axis head of risk funding Ben Rubin, as well as an ILS launch at ERS and a new bond team moving to Credit Suisse ILS.
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The Floridian insurer aims to renew just over a third of its private reinsurance placement in cat bond cover.
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The broker says the ILS alliance will "meaningfully increase" its capacity in three segments.
