Chubb

New demand for reinsurance cover that was expected to come to the market around the January renewals is being reined in as insurers recognise the extent of the hardening market.

Alex O’Brien succeeds David Kirk, who retained his cargo product head responsibilities following his promotion to head of marine in July.

Analysts said attachment points are now far behind the rate of inflation over the period.

Prior to approval, the commercial carrier owned 47.3% of the Chinese insurance group.

Sources said Miami-based Everest fac VP Sean Berry is set to move to London as head of international property.

Chubb has seen several exits from its marine team this year and restructured its leadership.

The insurer takes a $1bn retention on US losses but could have made some reinsurance recoveries.

With significantly lower retentions, AIG, Assurant and Allstate are more likely to pass the cost of the hurricane onward to their reinsurers.

The appointment comes following the departure of Renette Pretorius, who is joining Berkshire Hathaway Specialty Insurance.

The executive has worked at the carrier for over nine years, initially within the accident and health team.

Josh Hearnden becomes the second recent acquisition to the Mosaic PV team of late, following the news in May that Luke Bennett was joining from WRB Underwriting.

In his new role, Martin Audis will be based in London and will report to Nigel Griffiths, regional head of general aviation.