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Dean Dwonczyk established Catalina in 2005 with former UK CEO Chris Fagan, who exited the business in February 2021.
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Execution of the legacy transaction ticks off another major piece of work for MS Amlin in its turnaround of Syndicate 2001.
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The legacy acquirer will reweight its portfolio towards life run-off, moving away from P&C deals which it deems less attractive, sources said.
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CEO Marc Rowan said P&C business is “not that attractive”.
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The team will be headed up by Nikki Melbourne who previously led the team at Besso Re.
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The Italian group previously halted writing catastrophe excess-of-loss business.
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The carrier has increased its retro capacity by 56% to EUR1.34bn.
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The carrier has exceeded its H1 natural hazard allowance of A$580mn.
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Slowing primary pricing, the looming threat of inflation and increased cat retentions were key themes from this reporting round.
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Andrew Lewis has outlined growth plans for Xitus, a niche global legacy firm he has co-founded that will focus on non-life and reinsurance deals of $5mn-$50mn.
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Annual reviews of natural disaster activity highlighted drought – which can also heighten risk of fire and flood losses – as an increasingly important secondary peril.
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Exclusions and coverage changes absolutely make sense as a goal, but some wordings have thrown up additional risks.