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Company's Nephila ILS operations will focus on “significant” cat opportunities.
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The Tampa-based carrier said cat losses nearly tripled, while other weather losses also rose from last year.
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The ILS platform delivered stable revenues as Markel spent $102mn on its Catco buyout.
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The company cited its continued Q1 2022 underwriting losses and recent rating downgrade.
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Despite a move away from non-official indices, global ILW trading is still sometimes relying on a patchwork of triggers.
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With a hugely challenging reinsurance renewal ahead, Florida insurers are maximising participations in the state scheme.
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The company announced net retained catastrophe losses of $462mn.
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European storms have inflicted heavy claims on insurers in recent years.
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In his new role, the executive will work directly with Steve Tulenko, president of Moody’s Analytics.
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The firm took $175mn of qualifying losses as cat claims dropped notably from last year’s Uri-impacted quarter.
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The issuance is Vantage Risk’s second in the cat bond market.
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The nat cat loss aggregator said the Q1 event was the “largest flood loss on record” for the Australian insurance industry.