D&O (Directors and Officers)
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The impact of the war in Ukraine has led to a drop-off in IPO activity, which many carriers were relying on for growth. -
The hire follows the appointment of Keith Mather to head up financial lines for the international business.
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Linda Daly will join the company’s D&O division led by Michael Chu.
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The start-up said its survey shows that SPAC and de-SPAC claims would drive increasing litigation throughout 2022.
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Underwriters are navigating tricky territory as they look to hit growth targets while maintaining discipline on pricing.
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The broker has reported successive slowdowns since price increases climbed to a peak in Q1 2020.
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For the SPAC market, sources said that prices should continue to harden, while D&O rates are expected to stabilize amid a capacity flush.
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The unwinding of the pandemic, inflation and specialty pricing are set to be some of the areas of focus for the market.
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The appointment comes after Sarah McGurk resigned to join Aviva.
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Increased competition is shifting market dynamics after a transformation in rating conditions.
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Staff movement in the line of business has remained high amid firm market conditions coming into 2022.
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New markets have reset the balance between supply and demand in the market.
