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Property rates declined by 7% globally in the second quarter. -
Lucy Fraser has held roles at the ABI, and the City of London Corporation.
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The MGA no longer has an FCA licence and was wound up in May.
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Underscoring a more competitive market, the structure includes an escalating premium.
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BI claims are notoriously difficult to manage and some insurers believe binary coverage can help.
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Demand and growth opportunities remain ample despite competitive pressures.
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The executive previously held roles at Capgemini, The Hartford and AIG.
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The cyber business will continue to operate as a standalone entity.
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Carriers expect a rise in the severity and frequency of claims over the next two years.
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Premium rose across the top 15 P&C risks in 2024.
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The aerospace, energy and marine markets all sustained multiple significant losses in H1.
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There has been an uptick in UK retail firms buying cyber after a string of attacks.
