Howden
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The product is led by Canopius and IQUW, with support from three other Lloyd’s insurance company markets. -
The incoming cyber head was previously head of cyber for Marsh Europe.
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Patrick Bousfield is understood to have resigned from his current role as senior broker at Lockton Re Bermuda.
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Eaton is currently the managing director and global head of cargo at Howden Specialty.
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The deal comes over a year after this publication revealed that the companies were in takeover conversations.
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Last week, this publication revealed that Howden agreed to pay Guy Carpenter in excess of £50mn ($61mn) to settle the poaching suit related to Massimo Reina and a defecting European team.
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The 30-strong segment will combine reinsurance and capital markets with data, analytics and technology.
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Tokio Marine Kiln, Chaucer and Liberty Specialty Markets are among the Lloyd’s carriers understood to have joined the new venture.
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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 hire comes as group CUO Alan Telford plans to leave the business next summer.
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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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