HK-headquartered reinsurer records significant turnaround from US$261m loss in 2022, according to unaudited figures from its parent company's annual results.
Claims to be well in excess of GXL US$100m attachment point, leaving reinsurers bearing bulk of insured cost, but risk understood to be spread across 80 reinsurers.
Container ship collided with bridge, causing it to collapse and sending people and vehicles into the Patapsco River, with initial estimates suggesting damage could run into the billions.
Jeff Saper, who has been CEO for Pacific since 2019, will move to Hong Kong as Head of GC Fac for APAC, with Luc Morement taking on the responsibility of Regional Sales Leader, Asia Pacific.
