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Chris Nixon has been promoted to underwriting manager, executive & professional lines, UK. -
A resurgence in IPO activity may help provide new business for underwriters and reduce competition.
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The underwriter will manage and develop the MGA’s professional indemnity portfolio.
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The business will trade via London, the US and Canada.
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It is understood the increase is mainly due to a new professional lines team.
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The MGA said there was a “notable imbalance” between supply and risk exposure in the D&O space.
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Overall, insurance rates fell by 1%, led by competition in property.
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Uncertainty around court outcomes is almost forcing carriers to settle claims.
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The Flex consortium will offer up to EUR/$50mn limit.
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The carrier will only continue to offer lead capacity to some existing accounts.
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It will take more carriers to rein in income expectations to halt the soft market spiral.
