The transaction, expected to conclude early in the second quarter of 2024, is the largest Canadian universal life reinsurance deal to date.
Pool Re’s proposals to convert its reinsurance arrangements from the current facultative obligatory treaty to an annual aggregate catastrophe excess of loss treaty will take effect in April 2025.
The state licensed 25 new captives and 66 new cells last year, bringing the total to 164 captives and 555 cells, according to data from the Tennessee Department of Commerce and Insurance’s (TDCI’s) Captive Insurance Section.
Based in Bermuda, Edgware Re engages with its members and allows participants to purchase up to US$10 million in insurance or reinsurance based on their needs.
In his new role, Savill will lead Guy Carpenter’s broking operations in the Pacific, focusing on strategic growth and addressing the complex needs of clients.
In the role, Drake will work closely with the firm’s member-owner schools and business partners.
The new consortium offers brokers lead line capacity up to US$75 million per vessel, addressing the growing need for lead capacity as the shipping industry moves towards greener solutions and expands naval construction.
The platform aims to improve facilitation, communications and support to strengthen the business relationship between Labuan IBFC and Chinese businesses.
