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Argo Re kept its A- (excellent) financial strength rating.
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The strength of the relationship between the government, the regulator and the industry is key to the island’s position.
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The committee is the most senior management team at the Bermuda company, responsible for governance and strategy of the firm.
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In addition to Malloy’s departure, Mark Parkin notified the reinsurer of his intent to resign from the board of directors for personal reasons.
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The MGA’s gross written premium now surpasses $650mn.
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Fontana investors will face a short lock-up period in the sidecar’s ramp-up phase, but thereafter there will be some “embedded liquidity.”
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The new platform extends RenRe’s suite of ILS and reinsurance strategies.
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The executive will oversee management liability, healthcare and casualty/specialty reinsurance.
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NDAs have been sent out to global insurance groups and heavyweight PE firms, it is understood.
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Carr was previously SVP, global head of property catastrophe at the reinsurer.
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CEO Sankaran and COO Gangu are looking to use the firm’s capital, platforms and licensing to create value beyond reinsurance.
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