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Monthly cat losses were driven by two major events. -
The bond is trading at 70c-75c in the dollar in the secondary market.
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Arm is based in Guernsey and has a Bermudan management licence.
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There were 10 fatalities, mostly due to drowning or tree fall accidents.
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The suggested update to the PML is $2bn higher than last year.
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The ILS allocator has invested in the asset class over 17 years.
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The carriers were in arbitration with UnipolRe and Gen Re.
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The newly launched Marco Re will be led by Mark Elliott as CEO.
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The claw-back is anticipated after PCS revised down its Ian loss estimate.
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The hire has 20 years’ experience in asset management and corporate finance.
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All parties interested in the case have agreed to participate in the process.
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The carrier also set out detail on its alternative solutions offering.
