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Underwriters are navigating tricky territory as they look to hit growth targets while maintaining discipline on pricing. -
The appointment comes after Allison Wilkinson departed Chubb to join Convex.
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Former head of D&F at Geo Specialty David Leathem and his colleagues first joined the Ardonagh-backed MGA in 2017 to establish its international property book.
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The reinsurer added $280mn in casualty pro rata premium in Q4, a 60% jump, while growing casualty XoL writings by 37%, or about $84mn in new premium.
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Prior to her promotion, Janine McGriskin held the role of senior underwriter, UK financial institutions, at the carrier.
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The broker has reported successive slowdowns since price increases climbed to a peak in Q1 2020.
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Head of property John Roberts-West and senior commercial property underwriter Katie Hunter have both left the business, with Hunter set to join Beazley at the end of the month.
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The carrier continues to write the class from other global hubs.
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The MGA can now offer limits of up to £10mn on either primary or excess layers for UK PI business.
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Secretary of state Michael Gove claimed the market is “failing some leaseholders”.
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Kevin O’Donnell also said 1.5-point rises in ceding commissions for long-tail line treaties were an “acceptable” increase in acquisition costs, given improved underlying profitability.
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For the SPAC market, sources said that prices should continue to harden, while D&O rates are expected to stabilize amid a capacity flush.
