Energy
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Former SSL chairman Andrew Sturdy’s MGA has hired staff from AGCS, Qatar Re and Trust Re. -
The book of business was performing poorly, and was exposed to major claims from the 2021 Huntington Beach oil spill in California.
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The broker joined McGill around a year ago as part of the renewables, power and energy division.
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Will Morgan was part of the original broking team when Inver Re launched in 2021.
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The settlement is welcome news for the loss-hit downstream market, where there were fears of a claim as high as $1.3bn.
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Prior to her promotion, Laura Casby was a senior underwriter in the UK and Lloyd’s upstream energy team.
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Rates began falling at the mid-year but loss activity has changed the mindset of underwriters.
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Last month there were several unusual drone sightings over North Sea oil fields, sparking security concerns.
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Mike Gosselin has spent 21 years at Liberty Specialty Markets, most recently as CUO for specialty lines.
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Former renewables head Hamish Roberts has moved to work as growth leader for the broker in the UK and Ireland.
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The broker warned that more insurers will restrict or drop oil and gas business in the coming years.
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The broker has worked for Marsh and JLT during his 25 years in energy insurance.
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