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Pallas Reinsurance Company Ltd to reinsure approximately €200 million ($219 million) of reserves

Former Axis executive becomes chief underwriting officer

The reasons for the ratings upgrade included an improved view of Essent’s capital adequacy

The bank’s share price fell by 34 cents to close at $31.10 on the New York Stock Exchange

She will lead the Primary and Excess Wholesale Casualty teams in advancing their business objectives

Appointee is also to join the Canopius US executive committee

Phil Taylor has been appointed head of Global Specialties to lead the new business

The chief executive officially steps down from the company April 1

The underwriter has more than 15 years of experience working across property and specialty underwriting in Bermuda

Susan Pateras, Alan Waring and Michael Watson have joined the board as independent non-executive directors