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The downstream market is also starting to soften after a “massive influx” of premium income. -
The broker said achieving profitability “remains challenging” for insurers.
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Staff movement in energy has been more active than any other class of business this year.
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WTW has also recruited Marsh’s Thomas Burrows and Rupert Mackenzie recently.
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The move comes amid elevated personnel movement in the energy sector.
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The growing scale of projects is contributing to the need for more capacity.
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The new product will be led by head of special risks Ed Parker.
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The moves are the latest in a period of personnel upheaval in the energy market.
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The broker’s energy division has welcomed a string of hires in the past year.
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The energy liability market has seen a number of new entrants in recent months.
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Although talent movement in Q1 2024 was above Q1 2023 levels, personnel movement slowed in Q2 2024.
