Interview
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The executives said the P&I market needs to be “very careful” about underwriting conditions. -
Gard’s best underwriting results in 15 years was driven by the “extraordinary” lack of large losses in its commercial marine and energy business last year, according to CEO Rolf Thore Roppestad.
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The executive said the carrier had sufficient “dry powder” to expand in hard market conditions.
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The executive said the low claims of 2022 and the large losses of 2021 were anomalous.
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The MGA’s international platform hopes to bring in MGA underwriters looking for US expansion.
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John Thompson, Graham Kilby, Richard Peers and Russ Nichols will take the top jobs.
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The PRA’s Charlotte Gerken has set out the regulator’s initial thinking on tracking inward investment to the London market, among other measures, to implement its new economic growth duty.
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The Lloyd’s carrier’s CEO said the market must now ‘climb out of the rehabilitation phase’.
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With PPL just two weeks from launching its twice-delayed Next Gen placing platform, new CEO Joe Gordon has stressed the importance of a migration this year to a completely rebuilt system and its potential as a rich data hub for the market.
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In an interview with this publication, the CEO admitted the transition “took longer than any one of us would have wanted”.
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CEO Nick Cook said the company also plans to invest in an international MGA strategy and a capital advisory unit, with 149 hires budgeted this year.
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Beazley’s $45mn first-time cyber cat bond offered all-perils coverage, though some expected early deals to start with limited scope.
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