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Joe Petrelli said Demotech would continue to follow its independent methodology, despite outside pressure.
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A further 3,271 structures, including both homes and businesses, are under threat from the wildfire.
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The first six months of the year also saw more billion-dollar loss events than average.
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Market orthodoxy suggests cross-class reinsurers secure more leverage – but are there too many implicit offsets in this game?
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The underwriter will focus on underwriting and marketing strategy in the region.
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Inflationary pressure, increased demand and negotiations over attachment points are among the factors that reinsurers believe are ramping up pressure in the catastrophe space.
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The legacy specialist started the fundraise in the wake of a collapsed takeover by Brickell.
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Carriers have received more than 8,000 flood claims since 1 July.
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The outgoing exec will remain as a board member, while chief strategy officer David Ni will lead the company’s M&A strategy going forward.
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Mitsui, Tokio and Sompo are to split the loss, which will be absorbed by retentions and property XoL treaties.
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The March earthquake that struck Fukushima in Japan will cost $2.3bn.