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Riots erupted in the Pacific Island territory last month over electoral reforms. -
The executive had been interim CEO since January.
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The former Goldman Sachs VP has a background in ILS structuring.
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Park assumed the role earlier this month.
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Evercore is leading the capital raise process and Aon is assisting with the Lloyd’s application process.
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The claims tally has increased 7% since the last estimate a month ago.
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ILS capital so far is viewed by sponsors as strategic rather than essential.
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Tropical Storm Alberto, the first named storm of this year’s Atlantic hurricane season, made landfall this morning over Mexico and Texas, bringing heavy winds and gusty rains, according to the US National Hurricane Center (NHC).
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This takes pre-tax year-to-date cat losses to $2.62bn.
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The proposal now goes to the Florida Office of Insurance Regulation for review.
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Alberto is the first named storm of this year’s hurricane season.
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Amy Stern started her career as vice president of group reinsurance at Zurich Re.
