Aerospace
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The broker specialises in African aviation and has previously worked at Marsh and Willis.
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Rates surge as much as 300% on distressed risks as underwriters seek to rebuild profitability.
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Tony Ambrose joined the broker in November last year from Swiss Re Corporate Solutions.
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The change comes ahead of the renewal in December of the Willis Towers Watson-brokered cover. -
The executive leaves the Marsh & McLennan Companies-owned broker after 34 years.
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As many as 11 accounts have moved in recent weeks among major and start-up brokers.
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Some reinsurers pulled quotes as the shock waves of ~$650mn of creep reverberated.
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Tony Simmons, Tony Marshall, Lee Braysher and Barry Marler all previously worked at JLT’s aerospace arm.
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The respected aviation underwriter joined the company in 2017 from AIG.
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The executive returns to the MMC subsidiary after an 11-year absence.
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Underwriters are adjusting underlying exposures to push for rate while keeping premium increases modest for cash.
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The executive will manage the MGA’s new all-risks account, while former Chubb loss adjuster David Adcock becomes aviation claims head.
