Carrier

The syndicate has undergone extensive remedial work but also benefited from lower cats and substantial reserve releases.

The potential expansion could be made possible by the January US-China trade deal.

The syndicate narrowed its underwriting loss year on year with a combined ratio of 110 percent.

Some programmes also renewed with Covid-19 exclusions.

She will report to Everest Insurance president and CEO Jonathan Zaffino and Everest group CFO Craig Howie.

Its first transaction in the Asian market leaves the run-off group with assets totalling $7.2bn.

Steve Bitar worked at Citizen for more than 16 years and joins the Floridian property insurer on 20 April.

The disruption to working conditions has given underwriters an effective extra rate rise.

S&P said the industry’s capital position should help ward off downgrades but said the situation will “exacerbate weaknesses”.

The analyst predicted that rate hardening will continue, albeit with reduced premium levels.

Incumbent Amelie Breitburd leaves the French carrier.

The regulator and two other watchdogs are reviewing disclosure requirements during the coronavirus crisis.