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The broker has reported successive slowdowns since price increases climbed to a peak in Q1 2020. -
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.
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Michael Morgan will take over as head of professional liability in the latest management change at the finpro practice.
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The unwinding of the pandemic, inflation and specialty pricing are set to be some of the areas of focus for the market.
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The appointment comes after Sarah McGurk resigned to join Aviva.
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Increased competition is shifting market dynamics after a transformation in rating conditions.
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The new recruit will join Julian Samengo-Turner’s Middle East and Africa team.
