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The man is alleged to have conspired with others to falsify LOCs and collateral letters.
Plus, the latest people moves and all the top news of the week.
The loss has decreased by 0.3% since the company’s third assessment.
The number has expanded by around 40% from an earlier update, sources said.
Saul Nagus is the latest from Marsh’s aviation unit to join WTW.
The modeller said the insurance market could be exposed to unexpected aggregations.
Jim Meakins is the latest in a slew of talent to exit from the syndicate.
BP Marsh has subscribed for a 49% shareholding in the start-up MGA.
The PE firm’s Aaron Cohen said full integration of broking assets is crucial.
The MGA has built out a suite of products, including a planned launch into political violence.
The broker has been building out its Bermuda reinsurance presence.
William Soares moves from casualty and specialty CUO to president.
The executive will remain CEO of reinsurance until 1 September.
Chris Jones told this publication his plans for the first six months of his tenure.
Tiernan’s former role of chief of markets will be split into two new exec team positions.
The driver of growth has shifted from rate to volume, as pricing increases tail off.
Jack Kenneally will take on the role of class underwriter at the MGA.
The executive set out his vision for the Corporation after assuming leadership.
The outgoing CEO said the market had been restored as a leader during his tenure.
The reinsurer confirmed Andrew Phelan’s exit, as of 15 May.
Frustration is growing around a promised independent operating model and staff reward.
Last week, TSR updated its forecast and is now predicting above-average storm activity.
The total cost excluding a 15% quota share was $201.85mn, with rates down 12.2% from last year.
Most of the losses are attributable to a supercell storm in Texas.
Competitor news
Financial news
Financial news
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The carrier will focus on mid-market business outside of Lloyd’s. -
The MGA is building out its product base from its latent defects and surety offering.
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The reinsurer said the market was unprofitable and pricing needed to increase immediately.
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Behind the Headlines Podcast
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Claims professionals and leaders at the International Association of Claims Professionals conference in Orlando said the industry must work together to stem the rising cost of social inflation.
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In Partnership With AonEuropean storm Boris could have taken a much worse toll on (re)insurers, but improvements to infrastructure and underwriting standards made it less impactful than it could have been, Daniele de Bosini, strategic growth leader for EMEA at Aon reinsurance solutions, told Insurance Insider in a live video interview at Baden-Baden.
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In Partnership With The HartfordRyne Carney, Head of Property Product for The Hartford discusses how underreporting property values can leave businesses vulnerable during a catastrophe.
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Swiss Re’s nat cat premium volumes flat in renewals year to date
The reinsurer had $2.8bn of natural catastrophe business up for renewal in the year so far.
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Conduit Re will ‘invite’ third-party investors as it expands ILS over time
The reinsurer has already dipped into the cat bond market with its Stabilitas Re retro deals.
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Florida rates likely to remain stable through 2025: HCI CEO
With plenty of reinsurance capacity, CEO Patel said it’s been a “boring year” for treaty negotiations.
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Retro and ILS specialists Stubbings, Bailey leave McGill for Miller
The team will focus on building out Miller’s property treaty, retro and ILS capabilities, it’s understood.
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