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The body’s budget committee is again pressing Citizens over solvency concerns. -
This follows January pre-tax cat losses of $276mn.
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The firm is focusing on developing specialty offerings.
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This year, the association’s funding will come to $4.05bn with a $2.45bn retention.
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Risk partnerships will now report direct to the board through the CFO.
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The Cayman Islands entity raised $2.4mn last June.
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The RfP covers the CEA and/or the California Wildfire Fund.
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The Guernsey legacy carrier is working with an independent valuer.
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The carrier has added $5mn to the target limit bringing it to $105mn.
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Driscoll and Lubert have been promoted to presidents.
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Managers are hoping strong returns in 2023 will aid capital raising efforts.
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The reinsurer’s large losses were down 5% to EUR1.6bn for the year.
