Brokers
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The consideration in this deal will also include $2.2mn of Ryan Specialty Class A common stock.
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Aon’s CEO said the business was formerly “very underweight” in the middle market.
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The practice aligns existing capabilities from Marsh Specialty and others.
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A fresh investor will be needed to put meaningful cash on the table for a US retail deal.
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A thriving competitive intermediary market is what keeps London fresh.
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This publication revealed the appointment in November last year.
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Eric Paire has been at Aon since 2018, having joined from Guy Carpenter.
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The broker attributed increased capacity to improving profitability.
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This follows the broker’s report last year, which also found a “notable uptick” in claims.
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Leahy has worked in the London market for almost a decade.
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The RfP covers the CEA and/or the California Wildfire Fund.
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If you only read a handful of stories this week, make it the selection below.
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The exit follows the broker moving its Climate Risk Advisory function into its Risk Capital segment this year.
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The former MS Re CUO brings over 30 years of industry experience.
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Mike Smith will step down from his role on 31 March.
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Ryan entered into a £200mn currency forward to manage the appreciation risk of the Castel deal.
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The broker had approached underwriters to consult on additional brokerage of 0.5%.
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The end of the waiting period effectively clears the path to close in the US.
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The broker’s $47bn DoJ fine had “no material impact” on profits.
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The ratings agency said P&C insurers must "push through" price increases.
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Plus all the latest executive moves and the top news of the week.
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Howden acquired a majority interest in Mexico’s Adrisa in 2020 and Grupo Ordas in 2017.
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Investors are still keen on UK broking – but they may expect more for their money.
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The probe concluded in Q4 last year, according to Gallagher’s 10-K.
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The hire has 20 years’ experience in asset management and corporate finance.
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The CEO said winning back clients “validated” the broker’s approach.
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Ditte Deschars will be moving into the chairperson role for EMEA.
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The transaction will reduce the firm’s reliance on private debt deals.
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The executive has headed up Marsh’s Pacific region for the last four years, having joined via the acquisition of JLT.
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A deal would mark Amwins’ second LatAm sale, after this publication revealed that Lockton acquired THB Brazil last May.
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The executive will lead for the EMEA region in its strategy and development business segment.
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2023 was the fourth consecutive year insured cat losses surpassed $100bn.
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In October 2023, it was announced that Powell was leaving Marsh to join WTW as the broker’s global chief claims officer.
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Discussions include insuring military risks in the field of air and business travel to Ukraine.
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Wind and tornado in the US may already have led to losses in the hundreds of millions, according to Aon’s report.
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The broker grew by 35% in 2023 and is looking to reach gross written premiums of $1.4bn by 2026.
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The incoming executive previously spent 17 years at AIG, most recently as head of financial lines for MENA.
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In the second part of our themes for 2024 outlook, we explore how fear of missing out in cat reinsurance is still contrasting with an upstreaming of risk that is creating fallout for primary insurers, while momentum in facilitisation and ESG continues.
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In the first section of our two-part outlook for 2024, we explore why macro-economic concerns are taking a step back, though casualty pricing micro-cycles highlight ongoing caution.
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The broker said over-placement on some deals was a positive sign for brokers, though reinsurance capacity is still very tight in some areas.
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The CEO also disclosed that the break fee on the takeover is $250mn.
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It is understood that AUB’s investment in Mexbrit includes the broker’s marine-focused MGA subsidiary Forte Underwriters.
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The executive joined Gallagher in 2015 as COO of its international division.
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The broker is hiring in energy following the departure of several downstream brokers for Price Forbes.
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Business lines offered include P&C, marine, construction, cyber, trade credit, financial lines, and energy plus employee benefits services.
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