Ascot
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Trust Lime Street not to go ‘past a certain point in the distribution chain’, the Ascot Group CEO said.
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The underwriter joins after a short spell at the Chubb affiliate. -
The team includes Allied World’s Bermudian branch manager for excess general casualty Patrick Kenahan.
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The former MI6 chief says Lloyd’s Brussels was “nice publicity but not essential”.
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The carrier benefited from a £53.5mn year-on-year reduction in hurricane and wildfire claims.
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The moves follow years of market malaise in the property sector.
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Deals are still a major driver for growth, insurance and broker executives told delegates at the Insider US event.
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The tie-up will use technology from InsurTech firm Parsyl to cut the cost of managing claims.
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Carriers hope the new technology will cut the cost of administering claims.
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Other significant reductions in this publication’s running SBF approval tally include Aspen 4711, Markel 3000 and Hiscox 33.
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The executive joins from Liberty Mutual-owned specialty (re)insurer Ironshore.
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Axa XL, MS Amlin and Miller are among the companies trialling the PPL rival.
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