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Schmidt will lead Markel's Global Strategy team and work with Nephila. -
Riots erupted in the Pacific Island territory last month over electoral reforms.
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The executive had been interim CEO since January.
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The pension scheme’s holdings in ILS delivered varying returns in run-off.
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The bond will provide named storm coverage on a county-weighted industry-loss basis.
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The bond’s pricing for southern US storms landed at the upper bound of guidance.
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The bond is offering investors a midpoint multiple of 5.5x.
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The bond is seeking coverage for any named storm or earthquake event.
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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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Cat bond deals placed last week amounted to $150mn of issuance.
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Evercore is leading the capital raise process and Aon is assisting with the Lloyd’s application process.
