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Renewals will depend on clients’ ability to differentiate themselves from broad-brush trends. -
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“They want to grow their portfolios,” Guy Carpenter's CEO added.
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The new broking president added that hundreds of Marsh staff would not show up tomorrow at WTW.
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The broker said another strong year would drive pressure for “reasonably significant rate reductions” next year.
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Fears around social inflation have maintained upwards pressure on US liability reinsurance pricing.
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The new hire will build a portfolio of niche liability classes.
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The Lloyd’s chief of markets said he was generally comfortable with market fundamentals.
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The underwriter will head up casualty reinsurance for the US and elsewhere.
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The new CEO needs to fix the underwriting, but should also ask the bigger questions.
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The carrier added casualty reserves of more than $500mn during Q4.
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The carrier said it has acted prudently on 2016-19 GL loss trends.
