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Rates continue to drop as capacity is ample, the broker said. -
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Clients are increasingly using captives because of uncertainty around long-term capacity commitments.
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Gallagher, Marsh and Aon also faced sizeable outstanding premium payments as at Q4 2024.
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The broker’s fac reinsurance division will encompass around 70 staff, it is understood.
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It is the second deliverable of the FIT Transition Plan Project.
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The expansive broker now employs over 450 people in Japan, after launching there in 2024.
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The broker has expanded the number of global industry verticals to seven from four.
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He was most recently Marsh’s US manufacturing and automotive practice head.
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The executive brings more than 25 years of insurance experience.
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The soft market continued through H1 2025, especially on shared programs.
