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The reinsurer narrowed the scope of perils in its latest issuance versus its 3264 2022 cat bond. -
Reinsurers “weren’t getting paid” before 2023’s hardening, the Lloyd’s executive argued.
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Reinsurers scaled back their coverage to non-peak events in 2023.
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He will continue to play a role as a fund director and firm ambassador.
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The research body initially warned of an active storm season in April.
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Reinsurers are much better placed to absorb cat losses; insurers are carrying more risk.
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The Florida portion of the program provides $1bn in protection.
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The global services provider has grown through acquisitions in recent years.
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Former Teneo M&A head Alexander Schnieders will lead the unit.
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The shift in market dynamics reflects $1.8bn of maturities last week.
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Sub-1% management fee and performance fee-only structures have evolved in ILS.
