Treaty Reinsurance
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The company’s profits were bolstered by sharp underwriting improvement at Odyssey, which was offset by deterioration at Brit. -
The Bermudian expects pricing momentum to continue this year.
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The reinsurer completes its EUR453mn deal for 29.5% stake in French trade credit carrier.
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Event definitions were also tightened at renewals, the broker said.
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The company shrank its gross premium writings in the quarter by 12% to $138mn.
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Third Point Re also confirmed Tim Mardon as global property head and named Rachael Dugan as general counsel.
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Offering crop reinsurance is the latest move since Core Specialty launched in November.
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The two PE firms each take a 30% stake in the business, alongside Arch management.
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The new platform will give cedants “100x more data” and greater pre-trade insight, Tremor said.
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He replaces Tim Mardon, who recently moved to Third Point Re as global head of property.
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The executive’s hire continues a run of talent that has joined BMS in the past year.
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CEO Zuraitis said the company’s nearly $9mn in recoveries allowed it to achieve "below market" pricing on its program.
