Guy Carpenter
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The challenger broker is continuing to build out its presence on the island.
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The executive joins the company as it looks to bolster its reinsurance capabilities.
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Effective immediately, Wolfe will help drive growth strategies across the region. He will also lead Guy Carpenter’s US facultative business alongside Frank Guerriero, chairman of Guy Carpenter Facultative.
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European rates on line increased by 7.60%, while in the US prices were up 5.25%.
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Reinsurers are looking to grow in top-layer cat risk, resulting in “variable” outcomes on sign-downs.
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Ollie Spells joins from Guy Carpenter, where he was a senior producer in the broker’s UK facultative property team.
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A more consistent trading rhythm returned to the property market, with capacity deployment outside of frequency-exposed layers and more heavily loss-impacted segments bouncing back.
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The brokers will work in the contingency team headed up by Ian Tomlin.
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Speakers at the Guy Carpenter Baden-Baden symposium said the industry must improve its prospects as an investment opportunity.
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The payment represents the largest ever made in a team lift case in the London market.
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An internal missive, seen by Insurance Insider, also revealed Howden has agreed to a ‘set of demands to make amends’ in the wake of poaching settlement.
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The two rival brokers have reached an out-of-court settlement over the poaching of 38 Guy Carpenter staff by Howden.
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