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The subject business of the deal is Ascot’s ~$1bn property portfolio. -
Growth was driven by strong returns and new investors entering the market.
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Portfolios of clients of varying size in the same region aggregate more risk.
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The executive has held senior alternative capital roles at Aon and Guy Carpenter.
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White Rock claims CCB was responsible for the “lion’s share” of fraudulent letters of credit.
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The ratings agency said comparing companies was complicated by the adoption of IFRS 17 accounting.
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The executive has worked for Scor, RMS, Aon and SiriusPoint, among others.
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Reinsurers continued to diversify into primary and specialty business.
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The unit will support Ascot’s third-party capital business.
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The insurer currently has $300mn of reinsurance limit from cyber cat bonds.
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Positive cat experience impact of $600mn was offset by $500mn in property and specialty reserves.
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The P&C Re CoR came in at 84.5%, a 10.2-point YoY improvement.
