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Hannover Re takes a key role alongside leader Munich Re in the world’s largest terrorism retrocession placement.
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The scheme’s main retrocession programme, the world’s biggest terrorism reinsurance placement, will likely increase from last year’s £2.3bn.
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Michael Jordan worked at the London-listed carrier for more than 14 years.
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The executive joins the newly launched division from Marsh Risk Consulting.
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It is unclear whether the loss will fall on the airline’s all-risks policy or war policy.
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Newbridge founders Kirby and Buchanan are to move with immediate effect.
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The measure will now go to the White House to be signed into law.
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Jennifer Rubin will become senior underwriting executive and head of terrorism underwriting for North America.
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The product features fixed payment for a terrorism event within the insured’s post code, irrespective of physical damage.
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The Terrorism Risk Insurance Program Reauthorization Act (Tripa) will now go before the US Senate.
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The deliberations come ahead of next year's HM Treasury review of the state-backed reinsurance scheme.
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The reinsurer’s new division will combine risk awareness, risk modelling and risk management.