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W&I premium rates have fallen as low as 0.4% in the UK. -
He joins the firm following the departure of Edward Morgan and Guy Tyler, who have launched an MGA.
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Hales will switch to underwriting after a career specialising in marine claims.
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The broker said less than 1% of companies globally with cyber insurance were impacted.
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What is the purpose of the Underwriting Room in the post-Covid working world? According to Lloyd's Market Association CEO Sheila Cameron, the Room remains the "beating heart" of the London insurance ecosystem, and there is "overwhelming support" to maintain it. In her role at the LMA, Sheila has a unique insight into what is top of the agenda for all 55 managing agents. Tune in to the podcast to get the latest on Blueprint Two, the state of regulation, and leadership diversity.
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This follows the insurer reporting $56.4mn of losses from intellectual property business in Q2.
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Securities class actions are a perennial source of claims for D&O insurers.
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New capacity and increased competition is bringing rating levels under pressure.
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In messaging to the market, the cyber insurer described the rating environment as “stable and sustainable”.
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Crashes and collisions accounted for 63% of aviation insurance claims between 2019 and 2024.
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Current head of marine hull Helen Costin is set to retire from the business.
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The broker said achieving profitability “remains challenging” for insurers.
