Citadel draws line in sand with significant capital raise
Davies acquires Citadel Risk unit in expansion move
Tony Weller, Group CEO of Citadel Risk
Reinsurance carrier Citadel Risk has unveiled a major capital investment and balance sheet improvement after what its chief executive Tony Weller described as a “tough” year, having faced rating downgrades and problems affecting its subsidiary AMIC. The new capital will be used to expand into large business lines and develop a more diverse insurance entity.
Citadel, Capital raise, Tony Weller, Reinsurance, Ratings, AM Best, AMIC, Bermuda, North America