AJ Gallagher

The intermediary tallied $360bn in economic losses worldwide.

The CEO also heralded the group’s “best full-year brokerage segment organic performance in decades”, with a figure of 9.7%.

Louise Piper joins from Aviva, where she was international broker director, and she has previously held senior roles at Axa XL, WTW and Marsh.

She had served as director of underwriting at Nephila since mid-2018.

Paolo Cuomo joined last year from Brit, where he worked as director of operations, having joined the company in 2019 as head of strategy.

The fac heavyweight spent less than 12 months with the company.

Aviation insurers are still facing uncertainty moving into 2023, with a slew of legal cases, and large losses from the previous quarters looming above them.

Beazley’s $45mn first-time cyber cat bond offered all-perils coverage, though some expected early deals to start with limited scope.

As a decline in InsurTech investment continues and risk capacity providers reconsider their support, sources expect many InsurTech MGAs will have to review and potentially pivot their business models.

The appointment comes after it emerged that Malcolm Smart is leaving the business to join Ark.

Claims were widespread in the class of business during 2022, with almost all areas warranted claimed against.

The executive said many reinsurers have secured the pricing and terms necessary to cover their cost of capital.