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Craig Darling said the opening of a dedicated branch in Florida showed Acrisure Re’s commitment to the state and region. -
The carrier made recoveries on only one disaster event in the past year.
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The insurer also sourced more buydown reinsurance layers to reduce its retention of North American catastrophe risks.
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Executive board chairman Jean-Jacques Henchoz said earnings for H1 were up to pre-pandemic levels.
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The Willis Towers Watson CEO also confirmed the broker will not pay out bonuses contingent on the Aon merger.
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The firm launched the special purpose Bermuda-registered insurer at the end of 2020.
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The former Alterra Global Reinsurance CEO will be responsible for establishing the new hub for the reinsurance broker.
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The reinsurer posted intakes to its Medici and Upsilon funds.
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The broker said ILS capital had reached $96bn at the end of Q1.
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The analyst said the loss will fall mainly to reinsurers rather than primary carriers.
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The portfolio manager had been with the firm since 2018, with incoming CUO Adam Szakmary expected to take up his responsibilities.
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The retention was $80mn which will reduce to $55mn for second and third events.
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