-
This comes after the firm’s distribution partner GAM has had a challenging few years. -
A $30bn industry loss would use one-third of Big Four’s 2025 cat budgets.
-
ILS managers expect the losses to have some impact on future cat bond spreads.
-
The reinsurance attaches at $7bn, unchanged for the past two years.
-
Sources say the Fair Plan is under-reserved, leading to the possibility of member assessment.
-
Prominent Name Dhruv Patel is the firm’s founder.
-
The strategy launched on 1 January, winning mandates from several investors
-
The carrier is the largest writer of homeowners’ multi-peril in the state.
-
CEO Cerio highlighted changes that allowed the insurer of last resort to combine commercial, coastal and personal lines.
-
The ILS and reinsurance broker was established last October by Raj Jadeja.
-
Amin Touahri spent five years in a variety of roles at Munich Re.
-
The 2024 loss figure exceeded that of the previous record of C$6.2bn in 2016.
