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The company will ‘aggressively pursue subrogation’ for the Eaton Fire. -
Liquid alternative strategies accounted for around $1.4bn of the total.
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The LA fires ‘demonstrate the magnitude of tail events not well captured in modelling’.
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Ultimate losses from the Palisades, Eaton and Hurst fires are estimated at $4bn.
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The LA-based firm estimated gross cat losses in the range of $1.6bn-$2bn.
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The role at PCS included acting as primary touchpoint for ILS.
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The carrier’s reinsurance premiums ceded rose by 32% to $3.4bn in 2024.
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The firm said the appointment would support its ambitious growth strategy.
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The departures include North American Arcas head Alex Orloff.
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Neuberger Berman’s AuM stood at $3.2bn as of 1 January 2025.
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The start-up has achieved an A- credit rating from AM Best.
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Citizens approved an average 8.6% rate hike and decreases for one-fifth of policyholders.
