The former global CEO for legal and strategy steps up.

Third Point attributed its recent turnaround to the transition to a more well-rounded “specialty” reinsurer focused on underwriting profit, and away from the float-generating strategy that marked its early days.

Losses at StarStone narrowed as the carrier cut premiums while Atrium profits were up 90 percent.

The outgoing chairman will be replaced by the former banker, who has been Axis’ lead independent director since 2012.

The Bermuda carrier will take a 29.5 percent slice of the listed trade credit insurer but rules out a full bid for at least 12 months from the deal closing.

Chris Conway joins TigerRisk from Neon Underwriting Bermuda, where he was senior vice president.

The legacy insurer said that its investment reflects a belief that the business is “considerably undervalued”.

Group profits slip back due to cat loss reserve strengthening.

The former AIG treasurer’s appointment as a director came as part of a truce with activist investor Voce Capital.

Paragon insurance will acquire the business, which will continue to write on Argo paper.

The new funds raised at 1 January are dedicated to its retro-focused Upsilon fund and its Medici cat bond strategy.

CEO Albert Benchimol met the firm’s recent underperformance head on and acknowledged the company “did not deliver the financial results expected in 2019”.