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SCS insured losses accounted for 48% of all global losses last year. -
The agency cited falling property rates and US casualty challenges.
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It is understood that Salcedo will join Aon as P&C treaty head for Colombia and Ecuador.
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The ICA has escalated its ‘significant event’ declaration to ‘insurance catastrophe’.
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Sources said they expected FM to keep around $2bn of the maximum line net.
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The broker has analysed the differences in wildfire risk between Northern and Southern California.
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The capacity backs the reinsurance underwriter to cover international risks outside the US.
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The LA wildfires resulted in the largest insured loss of the year, at $40bn.
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The executive will take the position left vacant by Alain Bizet, who moved to lead Chaucer LatAm in Miami last year.
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November hailstorms and current storms and bushfires racked up claims.
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Nick Durant helped launched Lockton Re North America in 2019.
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Jen Tan was most recently head of portfolio strategy.
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