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The company said the reduction was due to years of steady improvements. -
Richardson has been with the firm since 2015 and was most recently vice chair and chair of international.
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The programme’s total limit this year is down $594mn to $1.36bn.
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The sidecars will provide capacity for reinsurers and large insurance carriers.
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Initial responses to ESMA’s report welcomed the long timeframes for any changes.
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The third-party capital manager is a new entrant to the retro space.
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The measure could have landed insurers with extra tax on US business.
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The total return for the Swiss Re Global Cat Bond Index stood at 0.61% for the month.
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A group of Bermuda staff also left the broker.
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The body said cat bonds are closer to an insurance product than a security.
