Cyber
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Aidan Flynn said that although different markets are expected to move at different speeds, the underlying trend is clear. -
The product is led by Canopius and IQUW, with support from three other Lloyd’s insurance company markets.
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The incoming cyber head was previously head of cyber for Marsh Europe.
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Edward Hart joined Aspen in February and has previously held roles at Brit and Barbican.
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Patrick Bousfield is understood to have resigned from his current role as senior broker at Lockton Re Bermuda.
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At a point when cyber rates are falling and capacity is plentiful in high excess layers, the mutual plans have the wider cyber market somewhat perplexed.
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He joins the cyber specialist from Aspen where he held the role of international head of cyber since 2019.
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Clearer wordings for cyber cat risk would also help foster the development of the more capital-efficient event XoL reinsurance market in cyber, Kessler said.
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The Bermudian also revealed a $29mn restructuring charge for Q3.
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Reports show that the combined use of supply chain exploitation and data exfiltration is causing double-digit million-dollar losses for cyber insurers.
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Pierro will be responsible for establishing operations in France and growing the company’s European cyber insurance portfolio.
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Current cyber brokerage leader for the US and Canada, Meredith Schnur, will succeed Reagan as cyber practice leader, US and Canada.
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