NormanMax, Apollo launch parametric insurance Syndicate 3939 [Yahoo! Finance]
UNIVERSAL INSURANCE HOLDINGS INC (UVE)
NASDAQ:AMEX Investor Relations:
universalinsuranceholdings.com
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Source: Yahoo! Finance
The syndicate, which will be managed by Apollo, received initial principle approval from Lloyd's in December 2023. It has been launched to address the growing need for new solutions in the face of climate risk and volatility. Through this launch, NormanMax aims to leverage the latest data and technology to create parametric solutions that can be deployed globally, filling a critical gap in natural disaster protection. Syndicate 3939 has already started underwriting, with a focus on hurricanes, tropical cyclones, earthquakes and typhoons. NormanMax is led by CEO Bradley Meier, who in his previous roles served as founder, chairman and CEO of Universal Insurance Holdings and Universal Property and Casualty Insurance Company, as well as co-founder of parametric underwriting specialist New Paradigm Group. Stuart Newcombe, formerly working with Munich Re Innovation Syndicate 1840, will serve as the active underwriter for the new Syndicate 3939. Newcombe will help in guiding the
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UVE
Sec Filings
- 6/20/24 - Form 3
- 6/17/24 - Form 4
- 6/17/24 - Form 4
- UVE's page on the SEC website