“Given the severity of recent wildfires in Los Angeles, the reinsurance market in California is expected to become even more challenging,” says Ming Li, partner, EVP, and global head of catastrophe modelling at Acrisure Re
Participants were tasked with exploring how captive insurance can serve as a cost-effective alternative for managing emerging and evolving risks
The state licensed 41 new captive insurance companies last year, bringing the total number of licensed captives to 683, of which 654 are active and 29 dormant
Previously, Joshua Bicknell was director of captive initiatives at GPW and Associates
The ongoing wildfires in the Los Angeles area are expected to generate insured losses surpassing historical highs but are unlikely to affect the ratings of property and casualty (P&C) (re)insurers
The facility, underwritten by QBE Insurance Group and AXA XL, offers an insurance capacity of up to US$15 million
Greg Mitchell of Aureum Re will serve as chair, with Faramarz Romer of Greenlight Re as vice chair
Duncan Smith will lead the executive management team of Arch and deliver on the company’s growth plans for continental Europe through its expanding network of branch offices.
