Construction/engineering

Alex Coulton previously held the role of construction underwriter at Axis Capital.

The underwriter will work with product leaders across regions to deliver a global product offering for international clients.

The appointment follows the recent hire of Pascal Carrer as head of casualty in Switzerland, and David Corrigan as head of property.

At an event that brought together construction insurers, brokers, engineers and developers, delegates discussed an impasse over insuring sustainable development projects.

The MGU has secured up to $10mn follow-form capacity on a non-admitted basis to cover general liability on complex construction projects in the US.

Hancock joins from Ensurance UK where he was head of underwriting and international engineering.

The moves follow a pattern of prolific hiring in which 200 production staff were added across the group’s London business in 2022.

The initiative aims to fast-track (re)insurance capacity to Ukraine to support reconstruction.

WTW said driver shortages continue to force contractors to use younger, often less experienced drivers, potentially putting upward pressure on losses.

The new recruit will run the UK and Ireland surety practice.

Intact financed the acquisition of the US builders risk portfolio through a $188mn term loan that was repaid before quarter-end, according to its Q3 statements.

Rate growth in the construction market is beginning to stabilise after a lengthy period of hardening.