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The impact of the war in Ukraine has led to a drop-off in IPO activity, which many carriers were relying on for growth. -
The new lead underwriter has almost 30 years’ experience including stints at Chubb, Faraday and Howden.
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The broker has also appointed Rebecca Harvey from Besso to focus on North American production in D&O.
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Mark Herget joined Fidelis in April 2020 as an underwriter before being transferred to its Bermudan operation in November of the same year.
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The hire follows the appointment of Keith Mather to head up financial lines for the international business.
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WTW has appointed Aon’s Ed Day to work as head of international property in the broker’s D&F team, which is led by Garret Gaughan.
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Cat de-risking and asset revaluations have also been key features of this renewal.
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Linda Daly will join the company’s D&O division led by Michael Chu.
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There are early signs of bifurcation between rates on cat-exposed or loss affected business, and clean accounts.
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The senior underwriter has worked at Sirius, Novae, Mitsui Sumitomo and Chaucer.
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The start-up said its survey shows that SPAC and de-SPAC claims would drive increasing litigation throughout 2022.
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Sources described the deal as a collegiate agreement, and long term the carrier is still understood to be committed to the US property market.
