Operations/tech

The deal comes shortly after the legacy specialist established a $265mn sidecar, Elevation Re.

Regional per occurrence deals were also down compared to last year, but Validus lifted its retro cover by $75mn.

The ratings agency says capacity in the market could further expand in the short term.

She takes over the post from Alessandro Carriglio, who has become head of claims reporting an analytics.

The new board member has worked for the Agnelli family for over 20 years.

On its fourth quarter call, AIG management shared it received “quality” interest from parties willing to acquire a minority interest in its life and retirement business.

An IPO remains on the table, alongside the option of a minority stake sale.

The risk modeller pledges to review the offer but says its $6bn agreement with the PE firm still stands.

The acquisition will help Progressive to expand into larger fleet business.

AIG’s shareholders are getting a raw deal, with an outcome on compensation that does not look like value for money.

The new CEO will receive a 70% boost against the pay in his prior role and 6% higher target comp than his predecessor.

The Floridian has also incurred $23mn of net catastrophe losses in Q4 before tax.