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Richard Pennay will become CEO of Aon Securities. -
The Risk International team will remain in its current location, under Jennifer Gallagher.
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Rising sea levels and ocean warming were likely factors in Helene’s strength.
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The figure does not include NFIP losses.
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The deal has reduced the carrier’s one-in-250-year cyber loss scenario from $651mn to $461mn.
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The strategy invests in subordinated bonds issued by European insurers.
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Most of the estimated insured losses will be retained by insurers.
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The firm’s new name is inspired by 18th Century Swiss mathematician Leonard Euler.
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The performance marked the best August for ILS since the index incepted in 2006.
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The loss estimate covers Czechia, Poland and Austria.
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Key floods this year outside of the US include the Rio Grande do Sul.
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The biggest limitation to growth is supply, given ILS capital “reticence” after the 2016-22 years.
