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Andrew Johnson, Edwina Charlton and Rupert Newman join from Paragon. -
Underwriting conditions in the financial lines market have deteriorated after major hardening.
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The broker also spent five years at JLT.
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The broker said clients could expect to see double-digit rate decreases this year.
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The facility is backed by a $10mn Lloyd’s binder.
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The carrier’s US platform will continue to be led by long-time executive Sal Pollaro.
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The average change for primary policies with the same limit and deductible was a 3.5% decrease.
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The offering will provide D&O, professional indemnity/errors and omissions, crime and cyber cover.
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Parker has worked at Ardonagh-owned Paragon since 2012.
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The MGA and 49% owner SiriusPoint could bring in a new investor.
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McGill was recently included in Warburg Pincus’s multi-asset continuation vehicle.
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The pair will lead crisis management and financial lines, respectively.
