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Re-marketing of large fleets can result in double-digit rate decreases as carriers chase income. -
Ex Ascot colleagues Gavin Wall, Chris McGill, Matthew Eve and Parth Patel are reuniting at the new unit.
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The broker will become director of marine at the Ardonagh subsidiary.
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He joins from Argenta Underwriting, where he was running operations in Singapore.
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The result was driven by significantly improved claims experience across severity bands.
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The broker has worked for Aon, Ed, Willis Re and Tysers.
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The carrier’s marine and energy liability team is led by recent appointee Stephen Barr.
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The agreement provides £10mn of capacity in several marine lines of business.
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The club’s net combined ratio dropped by 2 points to 93% for the year.
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The MGA boosted its capacity by 40% earlier this year, amid heightened activity in marine war.
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Thomas Noakes is joining the broker from Price Forbes in June.
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The marine expert has worked for Axa XL and Catlin for most of his career.
