Commercial Lines

Investor interest is mounting in German broking assets.

The commercial risk and reinsurance units delivered mid-single-digit growth.

The business is majority-owned by Castik Capital.

The firm said supply and demand was becoming more in balance than at 1 January renewals.

Managing director Nick Bacon will also exit this summer.

The only major product line to see rate increases was casualty.

The board of directors was unanimous in its decision.

In a post on LinkedIn, Steve Arora said investor appetite “just wasn’t there”.

Private equity investors may not have the same timeline as the multi-year construction projects they’ve invested in, which could leave surety writers holding the keys if private equity walks away, said Mike Keimig, president and CEO of Markel Surety.

Marsh alleges Aon also went after its clients as well as its employees.

The executive will define strategic priorities and guide global growth.

The Kelso and Arch-backed run-off player has retained Evercore to advise.