Guy Carpenter
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The broker was part of a mass resignation from Guy Carpenter last year.
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Richard Chu joins from PartnerRe, where he was head of financial risks for Asia Pacific.
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Ben Savill replaces Jeff Saper, who is moving into a fac role.
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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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Our virtual roundtable polled industry leaders on critical questions for the reinsurance market. Today, we explore how the industry can collaborate on net-zero objectives after insurers exited the Net-Zero Insurance Alliance (NZIA) in droves.
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Our virtual roundtable polled senior industry figures on the biggest questions facing the reinsurance industry. Today, we look ahead to the influences steering M&A market conditions.
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Massimo Reina led an exodus of Guy Carpenter’s European staff to Howden Tiger in March, sparking legal action.
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The reinsurance broker said the losses will fall on the higher end of industry loss ranges.
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Guy Carpenter has succeeded in bringing Ronda into the suit, while Baotic and Nicosia will not be added.
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The legal action follows the resignation of 38 of Guy Carpenter’s European staff to join Howden Tiger.
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Jonathan Powell was previously head of Lloyd’s P&C at CNA, before joining the broker’s non-marine treaty team.
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Reinsurers are less worried about their property books compared to last year, and eyeing development of casualty loss costs due to social and macroeconomic inflation.
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Loss-free accounts were generally up 20%-50% at renewal, the reinsurance broker said.
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