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The new agreement provides $40mn of aggregate limit excess of zero. -
The executive also served as CCO at Aspen before moving to Vantage.
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The change comes after an ownership restructuring.
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The appointment comes a month after AP’s $13.5bn sale to Gallagher.
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The deal comes around three years after Markel sold a controlling interest in Velocity for $181.3mn.
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Risk Strategies looks like the deal that makes most sense, but other targets could include Galway or Hilb.
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Many cedants secured aggregate and subsequent coverage at 1 January.
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Tim Watson most recently served as a senior credit and political risk underwriter.
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LAU will become the new Core Specialty Aviation & Aerospace Division.
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Around $155m of the businesses in-force gross premium will be transferred to Core Specialty.
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Terms of the deal, which is expected to close in Q1, were not disclosed.
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In the US, pricing fell by 6.2% at the major renewal.
