Reinsurance
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The deal covers around £150mn of reserves from the 2017 and prior years of account.
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Dean Jenner's move comes just over two weeks after the broker’s promotion.
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The pending sale of Asia Capital Re (ACR) to a run-off acquirer – revealed yesterday by this publication – is a painful blow to the Asian reinsurance market.
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About $190mn of reserves are associated with the transaction.
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The legacy specialist had acquired AG Insurance’s UK branch business in 2017.
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Investment income and an improved performance at StarStone lift the group result.
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As claims from Dorian and Faxai dent Q3 results, this publication assesses the impact on the market so far.
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The AIG subsidiary achieved rate rises of 30 percent across commercial D&O while also reducing its portfolio loss exposure.
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The former RenRe and Aeolus executive had been in talks with Warburg Pincus over a new retro fund platform.
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The two Florida-based insurers have continued to suffer increased losses from prior year events such as Hurricanes Irma and Michael.
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Liabilities involved are associated with asbestos and environmental claims.
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The reinsurer's shares rose more than 9 percent on news of the board rejecting the offer.
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