D&O (Directors and Officers)

The D&O market continues to soften, following several years of substantial rate increases.

A-Star offers up to $80mn in additional capacity for D&O liability insurance.

The decline marked the sixth consecutive quarter of double-digit pricing declines.

Hema Mistry returns to the UK to run the finpro division, following a stint at the broker in San Francisco.

Sources said a move towards facilities was the latest evidence of market softening in the D&O class.

Plus this week’s people moves and all the top news from this week.

Strong words from Patrick Tiernan have caused a stir in the market as pricing continues to fall off fast.

The carrier is rebuilding its financial lines team following a number of staff exits from the division.

The Corporation used its latest market message to call out what it saw as an “underwhelming” approach from specialty insurers to changing conditions and “moronic” D&O underwriting.

She joins the D&O team in London following the exit of senior underwriter Tim Carpenter, who is joining BHSI.

Average renewal premiums decreased 20% to 30% over the previous year’s price, with some public companies posting premium falls of 50% to 60% in the past 18 months.

Aviva has seen a number of staff exits from its D&O team, with senior personnel leaving to launch a book at Westfield Specialty.