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Leadenhall Capital Partners (LCP) has named Yuko Hoshino as senior managing director for Japan and Asia within its business development team. -
Jon Colello will become president in the management shake-up.
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The figure does not include losses from the likes of infrastructure, automobiles and business interruption.
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The year was characterised by several severe and costly thunderstorms.
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European rates on line increased by 7.60%, while in the US prices were up 5.25%.
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Steiger will oversee the new article 8 classified fund, based out of Zurich.
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While it is too early to determine the total financial loss, the US Geological Survey believes there is a 64% likelihood it will reach into the billions of US dollars.
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The $7bn initial attachment point has remained unchanged from last year.
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Schwartz will set the firm’s investment process on its ILS, equity and debt strategies.
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Of $17bn that entered the market in the 15 months to 31 December, 40% was channelled into ILS vehicles.
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CFO William McDonnell said reinsurance market stabilisation in 2023 allowed the firm to buy more protection than expected.
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The broker’s report also hailed the best risk-adjusted margins for ILS investors in a decade.
