John Butler, former head of investment management at Twelve Capital, joined the financial services firm Cohen & Company Financial as of 1 November to develop a US insurance asset management strategy and a global ILS platform
USAA has revised down year-to-date catastrophe loss estimates that had suggested a payout under one of its Residential Re deals, Trading Risk understands.
Third quarter catastrophe losses represented a 7 to 14 percent hit to the shareholders' equity of global reinsurers, with major catastrophe writers such as Everest Re, Lloyd's of London, Lancashire and RenaissanceRe the most severely affected
