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Separately, Caribbean market head Janine Seifert is leaving the reinsurer for BMS Re.
Lloyd’s executives have suggested ceded reinsurance syndicates could help London compete in treaty.
The managing agency is offering 62p per £1 for 2026 YoA capacity.
The international casualty director has worked at Axa XL, Ive and Ardonagh.
He was most recently Marsh’s US manufacturing and automotive practice head.
The executive brings more than 25 years of insurance experience.
The broker has expanded the number of global industry verticals to seven from four.
The soft market continued through H1 2025, especially on shared programs.
The LA wildfires accounted for 59% of loss activity over Q1.
Gallagher Re’s Lara Mowery said mid-year renewals marked the “beginnings of capacity” emerging.
Cedants were able to “challenge the status quo” with aggregates back on the table, the broker said.
The executive told this publication he will have more time “to propel” embedded auto MGA In The Car.
Richardson has been with the firm since 2015 and was most recently vice chair and chair of international.
The programme’s total limit this year is down $594mn to $1.36bn.
The broker noted a “significant variation” in renewal outcomes.
The measure could have landed insurers with extra tax on US business.
The deal puts an equity value of £275mn on the broking firm.
The ruling comes as insurers face growing legal pressures following the January blazes.
There are now 14 new companies writing homeowners’ policies in the state.
The broker built out Lockton Re’s US casualty and professional lines treaty book.
There has been an uptick in UK retail firms buying cyber after a string of attacks.
Plus, the latest people moves and all the top news of the week.
Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.
Willis’ continued reinsurance build-out has targeted London and Bermuda marine and retro specialists.
Competitor news
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Financial news
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The carrier’s president Andrew McMellin is aiming to double London market share in the next five years. -
Jim Williamson said litigation funding had evolved into an investment class.
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Miller recently strengthened its reinsurance proposition with the acquisition of AHJ.
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From our other titles
From our other titles
From our other titles
From Insurance Insider ILS
ESMA view on cat bonds comes as a challenge to UCITS managers
The body said cat bonds are closer to an insurance product than a security.
From Insurance Insider
Direct Line CEO Winslow to step down
CFO Jane Pool will also leave the company as Aviva takes over.
From Insurance Insider
Sompo Intl crisis management head Al-Salihi to join Alchemy
The underwriter has worked for RiverStone, Advent, Lloyd’s and AIG.
From Insurance Insider
Elevated risk expected for 2025 NA wildfire season: Burns & Wilcox
Up to nine million acres of US land are considered likely to burn.
From Insurance Insider ILS
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.
From Insurance Insider ILS
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.
Insurance Insider US provides robust insights, sharp analysis and exclusive news on the London and global (re)insurance markets.
Insurance Insider ILS provides robust insights, sharp analysis and exclusive news on the global insurance-linked securities market.