Accident and Health
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Sources said the Bermuda carrier has been working with Jefferies on the sale.
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The A&H reinsurance underwriter was launched by Peter Wilkins at the end of last year.
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RedRiff Agency will underwrite A&H insurance and reinsurance through a Lloyd’s consortium led by Beat 4242.
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The football club initially sued the broker for £10mn in a claim connected with the death of the footballer in a 2019 plane crash.
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The company announced on Wednesday that Liddell’s deputy Thomas Leonardo would succeed him as global head of A&H, with immediate effect.
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The carrier said a post-Covid rebound in travel was creating opportunities in the A&H sector.
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The broker said it had repeatedly made the football club aware new signings not added to the policy schedule were uninsured.
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Stephen Hitch, senior vice president of underwriting at Xchange Benefits, will lead the new MGU.
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The appointment comes after it emerged that Malcolm Smart is leaving the business to join Ark.
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The carrier is expanding its A&H appetite in London as part of its international insurance growth strategy.
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The broker will be responsible for maintaining growth, working with US and international offices.
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The group has hired two senior executives from Besso Re Middle East to run the operation.
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The appointment comes amid a flurry of personnel movement in the A&H class of business.
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The outgoing accident and health (A&H) head said he would be working his notice period and hadn’t yet decided on his next destination.
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The senior broker has worked at Guy Carpenter for more than 25 years and specialises in life, A&H and crisis management.
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Prior to joining Sompo International, Patrick Corbett was life and A&H CUO at Axa XL for three years.
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The new team now counts 15 underwriters working with 1,600 brokers across 80 countries to reach more than 6,000 clients.
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The transaction will near-double the size of Chubb’s A&H book and increase its Asia premium from $4bn to $7bn.
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The former South Africa A&H head will return to London for his new role.
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The revelation came with the release of the institute's 2021 Resilience Index.
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The carrier will remain active in the class of business after the departure of the underwriter who launched the book in2016.
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Underwriters voiced a cautious optimism about the outlook for 2020, but warned that the class was moving from a low point.
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The MGA launched in the A&H market last year amid a buildout into specialty classes.
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The newcomer will work as a senior underwriter with a focus on business within the aviation and marine industries.
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A Lloyd’s report warns that increasing digitisation makes key infrastructure assets more vulnerable.
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Pressure is growing from Lloyd’s underwriters on A&H coverholders, which often attract high commissions.
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THB and Armfield Harrison & Thomas place the policy for a medical supply chain firm.
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The broker is committed to expanding in A&H, especially in European markets.
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The underwriter will be responsible for managing the portfolio as part of the specialty unit’s growth plans.
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The Professional Footballers’ Association reported a six-fold increase in players accessing mental health services between 2013 and 2018.
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Justin Yeo was previously at Aspen for more than three years.
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Anna Sagar and Samuel Casey assess whether expectations of coronavirus-related losses are likely to match outcomes in what were tipped to be some of the most exposed classes.
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This week the team looks at the final throes of lawsuit activity connected to Irma claims and new entries into the A&H sector.
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The move into the space follows similar expansions by Convex and Lancashire.
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The entry into the market follows a handful of carrier exits in London.
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Stephen Catlin and Paul Brand’s start-up continues its specialty lines expansion as a contraction in A&H capacity signals higher rates.
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From a hospital case, with declining profitability and worsening claims, the A&H market is returning to good health, with rates having firmed since the onset of Covid-19, writes Helen Yates
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A trend of capacity withdrawals from the accident and health market preceding the Covid-19 outbreak has been compounded by a growing pushback on pricing and terms and conditions following the pandemic.
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Chris Howard, Nicole Yates and Stephane Baj join from WNC, Axa XL and Chubb.
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At least one insurer, Chubb, has paused quoting casualty cover for new healthcare clients.
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Most contracts are expected to be unaffected by the pandemic, but economic slowdown could hit the sector.
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Although the benefits of adopting technology-led ‘virtual care’ services are clear, they are not without risk, says Andrew Page.
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The worst performing Lloyd’s syndicate suffered from adverse development on prior years for both classes in 2019.
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The withdrawal marks the latest in a series of restructuring measures at the carrier since its takeover by Apollo.
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Rates are starting to move in some areas of the line, which has been flagged for lacklustre price changes.
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The appointment follows a major business restructure at the carrier and the launch of a new specialty business.
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Steven Lawson and Lauren Meredith join as Dale prepares to deploy up to £147mn of Lloyd’s stamp capacity this year.
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The acquisition follows a $400mn debt issue from Beach parent Acrisure last year to finance M&A.