Led by former Swiss Re Corporate Solutions and AIG executive Giuseppe Carone, the Lloyd's-backed MGA will focus on professional indemnity, cyber and management liability risks.
The plan also calls for expanded market-based reinsurance, stronger catastrophe protection, and greater technology investment across the agricultural insurance sector.
Both insurers responded to a Financial Times report on their cover for the trader, which is accused of raising bank credit against invoices for trades that did not exist.
