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Tremors were felt as far north as capital city Taipei. -
The partnership seeks to serve corporates with captives, Lloyd’s syndicates and ILS funds.
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The estimate is up from A$1.4bn, published by Perils in February.
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The cover will be triggered on an indemnity, annual aggregate basis.
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Several prior-year cat losses deteriorated during the quarter.
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Sources said the deal was roughly three times over-subscribed as cat becomes hot.
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The carrier closed its Sussex Diversified Fund in October last year.
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The carrier’s non-life combined ratio improved by 5 points to 81.6%.
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Severe convective storms were the biggest driver of last year’s losses.
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He will oversee the syndicate’s catastrophe modelling capabilities.
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The body’s budget committee is again pressing Citizens over solvency concerns.
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This follows January pre-tax cat losses of $276mn.
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