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January’s California wildfires meant third-party investors suffered a loss of $195.3mn. -
The carrier increased its cession by around 13% year over year.
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The broker has also hired fellow Aon broker Barry Gordon in a role trading ILWs.
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He joined Nephila in 2023 from Lancashire as a senior underwriter.
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Gokul Sudarsana has been with the company since 2020, having joined from Deloitte.
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Suzanne Wells is also joining the company from Arch as COO.
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Rachel Barnes Binnie joins as portfolio manager.
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The firm announced CEO Trevor Carvey will retire and is returning to the UK from Bermuda.
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The rating allows IQUW to access $1bn in group capital.
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Industry sources estimate the market to be around $3bn.
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Founding partners DeCaro and Rettino will continue to provide oversight and investment advice.
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Premiums ceded to the ILS vehicle increased by 76% to $433mn.
