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The modelling firm said its study aimed to help insurers “plan for the worst and hope for the best”. -
The former Mt Logan Re property reinsurance underwriter took on the role this month.
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The firm reported a $100mn drop in ILS AuM to $1.4bn, although previously had said deployable capital was lower.
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Markdowns have wiped more than $220mn off the value of $1.6bn of aggregate cat bonds benefitting major US insurers after the Texas Big Freeze.
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Some had argued that the definition of occurrence used by judges could make it harder for insurers to aggregate treaty claims.
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CoreLogic has already approved a merger with Stone Point and Insight but said it would review the competing bid.
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As some in the market believe the winter claims will remain notably below $20bn, there are multiple factors creating challenges in assessing the event.
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David Cameron’s appointment to the Minnesota-based role follows property hires for Philadelphia and Chicago.
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The carrier increased US-exposed reinsurance limit by EUR250mn but almost halved its group aggregate.
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The carrier is “very optimistic” on Japanese and US renewals this year, and outlined plans for growth in various lines and regions.
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Hannover Re and Fidelis provided significant capacity on the Munich Re-led programme.
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The carrier said Texas claims are beginning to drop off with quota share and minor perils cover in place to help minimise its retention.
