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Axa also announced the launch of a group EUR1bn share buy-back scheme.

HSCM has had a majority stake in the company since 2020.

Louisiana policyholders have filed 460,709 claims of all types, of which 65% were closed with payment.

The Australian investor made 5.0% on its ILS investments in the 12 months to 31 March.

The carrier said that it intends to defend the proceeding.

South African flood losses, Canadian and European storms and second-quarter events in the US were cited as contributors to the deterioration.

The investor will manage a portion of the Bermudian’s assets.

The company’s property segment booked a combined ratio of 57.6%, 13.8 points higher compared to Q2 2021 due to a higher attritional loss ratio.

The executive will rejoin as EVP, reinsurance purchasing and risk capital optimization.

This publication broke the news in March that the Richard Brindle-led underwriting business was working on the radical company separation.

As ILS players such as Vesttoo seek to grow beyond cat risk, Trading Risk looks at some of the questions surrounding how casualty ILS deals will operate and the amount of risk transfer undertaken to date.

Markel effected its buyout of Catco investors in April 2022.