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The conflict between US and Bermuda legal systems offers no easy route for counterparties to fraud-impacted transactions.
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The client lacked options in the conventional insurance market.
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Growth driven by 14% expansion in reinsurance solutions division.
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The final estimate is a 12% increase on an August tally of NZ$1.99bn.
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The bond is currently trading at around 65c in the dollar on the secondary market.
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The ILS platform ceded around 40% of its total managed premiums of $1.8bn.
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The fund manager operations booked management fees of $31mn.
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The Bermudian said its third-party vehicles were “sufficiently capitalised”.
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He is succeeded by interim co-CEOs Andrew Wheeler and Russ McGuire.
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The committee claims Chaucer waited until it had ‘maximum leverage’ over other debtors.
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Fourth quarter inflows also included $111mn for its retro platform Upsilon