Asia Pacific
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Property pricing fell by 8%, while casualty rate increases tapered to 3%. -
The recruits will join from Nephila, Aon and Malaysian Re.
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The underwriter has worked for Markel in Singapore since 2020.
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The transaction marks the largest US market entry by a Korean non-life insurer.
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Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year.
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The major storm is set to move on to mainland China later in the week.
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The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance.
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The deal is part of Gallagher’s ongoing Asia-Pacific investment strategy.
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The firm has also updated the loss-calculation engines of existing Jeannie tools.
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The Japanese company announced the $3.5bn deal today, three months after the Bermudian completed its IPO.
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The all-cash deal values the Bermudian’s stock at a 36% premium.
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This publication first reported deal talks last week.
