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Total reinsurer capital grew by $45bn in 2024 to $715bn. -
The executive was named group CEO in January.
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Overall market capacity increased by 5.3% year-on-year, the broker reported.
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AIG veteran Kevin Bidney will focus on North American marine.
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Coverage will increase to $20mn per building.
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Joe Fobert will report to William Hazelton, EVP of Everest.
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The executive said AIG’s E&S arm can grow 20% a year and generate $4bn of new business.
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The start-up is closing a Series A fundraise.
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There is a long waiting list of carriers looking to pull the IPO trigger, but market conditions remain tough.
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The carrier has received 12,300 claims as of 28 March.
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Sources said the Evercore-run Risk Strategies process has drawn the interest of Brown & Brown.
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The decision comes after the agency refused to block a climate related vote at Travelers.
