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The firm will advise and support third-party risk capital providers. -
The (re)insurer recorded a reserve charge of nearly $1.3bn within its casualty insurance book.
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The platform will match partner capital to provide capacity for reinsurance placements.
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He joins from Pillar Capital and will be based in Bermuda and New York.
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He was appointed acting CEO earlier this month, after Andrade’s departure.
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The vehicle is smaller by 8% as White Mountains’ participation grew.
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Andrade is taking up a CEO role at another “prominent financial services firm”, Everest said.
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The vehicle is yet to recover to 2021 levels of $235mn.
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Nicole Chase was central to the build-out of Mt Logan while at Everest.
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The firm has commenced writing collateralised retro and reinsurance but its rated launch is still pending.
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Everest is in the process of transforming its ILS offering.
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The ILS manager’s existing Medici cat bond strategy stood at $1.68bn in assets under management (AuM) as of 30 September.
