Construction/engineering
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Stephen Ridgers is leaving his current role as head of construction midcorp at Allianz Commercial. -
According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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The carrier started writing construction in Lloyd’s following the acquisition of Probitas.
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Former head of construction Bill Creedon will assume the role of chairman.
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The Swiss carrier appointed a new global energy head earlier this week.
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The changes affect operations in Switzerland, Bermuda and the US.
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Markel International has also hired senior underwriter Keely Madden.
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Andrew Kane has spent eight years at QBE.
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He will oversee Ascot’s US and Bermuda insurance and reinsurance companies.
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Chapman exited from Scor following a 13-year tenure with the carrier.
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The MGA is offering lines of $25mn, up from the $10mn limit it was providing until late last year.
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Tim Chapman also holds the role of EMEA head of construction at Scor.
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The carrier recently started underwriting construction in Lloyd’s through Probitas.
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Alex Haines also previously held roles at WTW and Mapfre.
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The LMA report focused on first-party property damage from a coverage perspective and on eight key sectors.
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Simon Theobald joins from AIG where he was senior construction underwriter.
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Construction rates remain stable with some talk of potential softening.
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The duo have several years’ experience in specialist construction risk.
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The promoted employees have all been with BHSI’s Singapore offices for years.
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It is understood that the three hires will join Miller’s international construction team
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Seven members of the construction team have resigned, including construction practice leader Patrick Baker.
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Sophie Hitchcock has covered the role since November 2023.
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The market is showing signs of having reached its peak amid an influx of new capacity.
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Tim Bluck joins as a partner, covering UK clients.
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It emerged in November that the carrier’s construction head Daniel Abramson was leaving the business.
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The book is yet another indication of growing interest in the space.
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Alex Coulton previously held the role of construction underwriter at Axis Capital.
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The underwriter will work with product leaders across regions to deliver a global product offering for international clients.
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The appointment follows the recent hire of Pascal Carrer as head of casualty in Switzerland, and David Corrigan as head of property.
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At an event that brought together construction insurers, brokers, engineers and developers, delegates discussed an impasse over insuring sustainable development projects.
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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.
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Hancock joins from Ensurance UK where he was head of underwriting and international engineering.
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The moves follow a pattern of prolific hiring in which 200 production staff were added across the group’s London business in 2022.
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The initiative aims to fast-track (re)insurance capacity to Ukraine to support reconstruction.
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WTW said driver shortages continue to force contractors to use younger, often less experienced drivers, potentially putting upward pressure on losses.
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The new recruit will run the UK and Ireland surety practice.
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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.
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Rate growth in the construction market is beginning to stabilise after a lengthy period of hardening.
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Peter Rossell, Dan Watson and Anthony Palmer, all senior engineering underwriters at Globe Underwriting, have joined Rokstone.
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While the construction market is seeing rate rises slow to single-digit increases, anecdotal evidence shows the cost of construction claims is 20% up on 2021.
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The move is the latest in a series of personnel changes in the construction space.
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In his new role, Adrian Burgess will be responsible for developing and managing underwriting strategies within Axa XL’s UK construction book.
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The construction book will be absorbed into Intact Specialty, with the carrier providing the paper for the newly purchased book.
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The expansive MGA launched its construction practice in July last year and has a three-year capacity partnership with Aviva.
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The move comes in a period of heightened people-move activity in the construction and engineering class.
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John Thompson is to take up a senior role with Ardonagh Specialty, along with Alesco alumni Mark Watson and Paul Lewis.
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Nigel Cooper most recently held the position of senior construction underwriter, global construction at Travelers.
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In her new role, De Rosa will oversee Axa’s construction and engineering treaty and facultative portfolio and strategy for clients in both the US and international markets.
