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Berman will replace Ramesh Singh, who is leaving the business to head up financial lines at Aviva. -
She joins the D&O team in London following the exit of senior underwriter Tim Carpenter, who is joining BHSI.
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The MGA platform was launched by former Barbican executives in late 2021.
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Average renewal premiums decreased 20% to 30% over the previous year’s price, with some public companies posting premium falls of 50% to 60% in the past 18 months.
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Aviva has seen a number of staff exits from its D&O team, with senior personnel leaving to launch a book at Westfield Specialty.
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The hammering of hailstorm losses that US homeowners’ carriers reported for H1 will drive positive change in property markets.
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BHSI grew to be one of the largest writers of D&O in London during the hard market of 2020 and 2021.
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Aon report marks the fifth consecutive quarter of year-over-year pricing decreases in the D&O space.
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Double-digit rate decreases are common in the class of business despite macroeconomic headwinds.
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The business will offer products including commercial financial lines, financial institutions and investment management insurance.
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The underwriter has previously worked at AIG, Chubb and Markel.
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Cyber GWP could exceed $50bn by 2030, the broker predicts.
