Stocks
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He joins as active underwriter from the role of property head at Syndicate 1458. -
Research by the broker shows the ILS industry contracted by $4bn in the first quarter to $93bn, with $15bn of capital still trapped.
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The firm launched last year with $50mn of capital from a pension plan investor.
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Fidelis has rebranded its third-party capital partnerships arm as Socium.
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The carrier has made refinements to the vehicle’s portfolio mix and the structure mix, Liberty Mutual told Trading Risk.
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The insurer expanded its property catastrophe excess of loss (XoL) reinsurance programme ahead of its imminent acquisition of 1347 Property Insurance Holdings (PIH).
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Reinsurers that have been reliant on retro cover also pared back their market share, as the broker said mid-year renewals showed tangible pricing momentum.
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The 2018 share class had been hit by a deteriorating prior year loss earlier in June.
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The 2019-3 notes bring the total Alturas sidecar support for the year up to $230mn.
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The former CUO of Heritage has taken up the role already.
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Investors sought to redeem about $200mn in 2019 from the shrinking Securis I fund, but the London manager has grown its lower-risk non-life fund.
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The retro writer warned earlier this month that it was increasing its loss reserves for the two events.
