Construction/engineering

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.

The carrier started writing construction in Lloyd’s following the acquisition of Probitas.

Former head of construction Bill Creedon will assume the role of chairman.

The Swiss carrier appointed a new global energy head earlier this week.

The changes affect operations in Switzerland, Bermuda and the US.

Markel International has also hired senior underwriter Keely Madden.

Andrew Kane has spent eight years at QBE.

He will oversee Ascot’s US and Bermuda insurance and reinsurance companies.

Chapman exited from Scor following a 13-year tenure with the carrier.

The MGA is offering lines of $25mn, up from the $10mn limit it was providing until late last year.

Tim Chapman also holds the role of EMEA head of construction at Scor.

The carrier recently started underwriting construction in Lloyd’s through Probitas.

Alex Haines also previously held roles at WTW and Mapfre.

The LMA report focused on first-party property damage from a coverage perspective and on eight key sectors.

Simon Theobald joins from AIG where he was senior construction underwriter.

Construction rates remain stable with some talk of potential softening.

The duo have several years’ experience in specialist construction risk.

The promoted employees have all been with BHSI’s Singapore offices for years.

It is understood that the three hires will join Miller’s international construction team

Seven members of the construction team have resigned, including construction practice leader Patrick Baker.

Sophie Hitchcock has covered the role since November 2023.

The market is showing signs of having reached its peak amid an influx of new capacity.

Tim Bluck joins as a partner, covering UK clients.

It emerged in November that the carrier’s construction head Daniel Abramson was leaving the business.

The book is yet another indication of growing interest in the space.

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.

Peter Rossell, Dan Watson and Anthony Palmer, all senior engineering underwriters at Globe Underwriting, have joined Rokstone.

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.

The move is the latest in a series of personnel changes in the construction space.

In his new role, Adrian Burgess will be responsible for developing and managing underwriting strategies within Axa XL’s UK construction book.

The construction book will be absorbed into Intact Specialty, with the carrier providing the paper for the newly purchased book.

The expansive MGA launched its construction practice in July last year and has a three-year capacity partnership with Aviva.

The move comes in a period of heightened people-move activity in the construction and engineering class.

John Thompson is to take up a senior role with Ardonagh Specialty, along with Alesco alumni Mark Watson and Paul Lewis.

Nigel Cooper most recently held the position of senior construction underwriter, global construction at Travelers.

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.

The appointment of Dan Okey comes amid several senior changes within Marsh’s construction team.

This is the second Peru-based construction loss to make headlines in a week, following this publication’s report of a potential $860mn Petroperu claim.

The dispute has arisen due to a mismatch in the provision of infectious disease cover between Petroperu’s policy with local fronting carrier Mapfre, and the policy between Mapfre and its facultative reinsurers.

However, underwriting criteria has “tightened” as a result of unpredictability over company finances and previous loss activity.

Integra Risk Services will offer outsourced risk engineering management to the construction, engineering and energy sectors.

Mark Peacock has been made a partner in the broker’s construction practise within its UK speciality division.

Industry veteran Rick Girden runs the construction portfolio, which is projected to grow to $200mn this year.

Dasan's resignation comes within a period of significant moves across the construction market.

Plus the latest impact of cat activity on reinsurer results and all the top news from the week.

The market has seen four years of significant compound rate rises triggered by heavy loss experience and contracting capacity.

Richard Alford-Smith follows in the footsteps of James Cook and Lewis Coward who also joined Lockton’s construction team from Marsh earlier this year.

Paul Smith's appointment follows the retirement of Gerald McDowell after nearly 16 years at AIG.

Paul Snashall is moving to Senior Wright as liability and construction placing broker, while Stuart Daffin will join City Underwriters as senior construction underwriter.

The team will be led by global head of construction Naresh Dade and Andrew Harrison-Sleap, deputy global of construction.

David Lyle’s resignation goes against the grain of Lockton’s construction-team recruitment in recent months.

The new recruit will be head of power at the UK global broking centre.

Gerald McDowell will step down from his role after nearly 16 years with the business.

James Cook and Lewis Coward are set to join the broker later this year.

MGA Ensurance has hired industry veteran Adrian Burgess as a senior underwriter for construction and engineering.

Axa will be the MGA’s main capacity provider from February for construction and engineering products.

He joins fellow Marsh alumni Naresh Dade and former McGill exec Andrew Harrison-Sleap.

The start-up makes the hires as Tim Perkins and Russell Gravatt leave for AJ Gallagher.

The carrier’s former energy, property and construction claims lead exits for consultancy position.

The broker spent almost 18 years at JLT and its successor entity.