Howden
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It is the second acquisition under the leadership of new CEO of France Nicolas Aubert. -
The motion comes a month after Carpenter sued the rival reinsurance broker over the "orchestrated” exit of 12 executives from its Dallas-based practice.
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The broker said climate, conflict and capital concerns will keep driving up reinsurance rates but suggested new capital may be attracted to the market.
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The product protects firms buying carbon credits from third-party negligence and fraud.
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Bowood managing director Stephen Greener will chair the entity, which is to place $6bn in GWP.
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The broker said the developments could have “huge implications” for capacity, pricing and the market cycle.
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The reinsurance broker also sued five former GC Access leaders who now work at Howden as managing directors.
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The deal marks Howden’s first acquisition in country since appointing Nicolas Aubert as CEO in February.
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The executive has worked at Guy Carpenter, Ed and Hannover Re.
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Regulatory burdens mean that restarting the Freeport refinery could take longer than first hoped.
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Mary O’Connor joins from KPMG, where she was acting CEO.
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The broking magnate dismissed criticisms about underwriting alignment and added cost.
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