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In its first six weeks, Taurus has brokered more than £100mn of UK real estate. -
Smith joins from QBE Insurance, where he spent over 13 years.
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The downstream market is also starting to soften after a “massive influx” of premium income.
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QBE has “effectively stopped writing new business” in response to its New Caledonia loss.
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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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Police and civil authorities will likely pick up most costs.
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The July downtime will increase relevance, demand and innovation for the market.
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Lancashire was the only carrier to see double-digit growth in insurance revenue for H1.
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The legacy firm said the deal would strengthen its Bermuda operations.
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The transactions will de-risk all North America middle-market reserves up to 30 June 2024.
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The CEO said he expects cyber rates to start flattening post-loss.
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A canvass of sources suggests that a $3bn-$5bn loss could tip the cyber market into unprofitable territory.
