The losses added 12.3 points to the firm's 100.4% CoR.

The ratings agency has upgraded the carrier’s financial strength rating from B to A-.

The loss follows the pattern of 2002 and 2013 European flooding.

Léger will work as chair and Neal as vice-chair of the advisory board.

The deal would value WeFox at around EUR550mn.

Dan Walsh has led Aon Client Treaty for the past six years.