Allied World
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Brit’s combined ratio shed 23.4 points to return to a profitable 94%.
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Rory Morison was hired last month to lead the Australian business.
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Aviva has seen a number of staff exits from its D&O team, with senior personnel leaving to launch a book at Westfield Specialty.
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The underwriter is a long-standing Allied World employee, having worked at the insurer for over 20 years.
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Jodie Major worked for Chaucer’s financial institutions team, and the carrier has recently exited the market.
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The Canadian holding company increased its ownership in the Bermudian carrier to 82.9% from 70.9%.
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The move comes in a period of heightened people-move activity in the construction and engineering class.
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Staff movement in the D&O market remains high as carriers battle to secure top talent in a hard market.
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Michael Garrison has been with Allied World for five years and starts effective immediately.
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Paul Driver will be responsible for delivering the unit’s European strategy at Syndicate 2232.
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Pene Reuben re-enters the market after leaving Allied World in April.
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Bobby Bowden is also promoted to EVP for the global insurance segment.
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The team includes Allied World’s Bermudian branch manager for excess general casualty Patrick Kenahan.
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Patrick Kenahan and at least three members of his team are thought to have left the company.
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The long-time chief is replaced by Allied World president Lou Iglesias.
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The Insurance Insider ran an analysis into syndicate administrative costs after Lloyd’s found no correlation between the size of a syndicate and its admin expense ratio.
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Panellists at the Biba conference condemn sexist behaviour.
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Latest hire joins as vice president of underwriting
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Allied World has seen its issuer credit rating reduced owing to lower profitability in its casualty business.
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Fairfax sinks to fourth quarter loss on mark-to-market investment losses.
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The specialty reinsurance SVP is to leave after 15 years.
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Job losses and the merging of aviation teams helped maintain upwards pressure on rates.
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Alex Smith joins the cyber and specialty lines MGA from Capital Risks.
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Market sources described a frenetic dynamic between underwriting leaders and followers in the verticalised market.
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The expansion comes after the MGA gained backing last year from Preservation Capital.
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Holding an asset because you think someone else will ultimately buy it from you at a higher price is called a “greater fool” thesis.
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The carrier had traditionally targeted primary business and was a lead market on a number of M&A insurance placements in London.
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Allied World Re shifts Walter Chaname to head treaty reinsurance division based in Miami.
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Allied World Re has promoted Yeo Meng Wong from an underwriting role to senior vice president and general manager.
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Thomas Bradley will advise the board on its financial structure after it moved its listing to the NYSE.
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The move follows Brit’s acquisition of Advent’s binders and casualty teams.
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Aspen has lost more underwriters as members of its Bermuda FinPro team jump ship.
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MGM lawsuit against shooting victims asserts exemption under anti-terror act.
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The carrier's senior vice president and head of treaty for Asia Pacific, Middle East and Africa spent more than nine years in the role.
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CalFire pins blame for 12 Wine Country fires on trees falling into PG&E power lines.