While the construction market is seeing rate rises slow to single-digit increases, anecdotal evidence shows the cost of construction claims is 20% up on 2021.
Phoenix’s original letter, penned by CIO and co-founder Gary Channon last week, described the carrier as being “not competently led” by executive chairman William Spiegel.
Josh Hearnden becomes the second recent acquisition to the Mosaic PV team of late, following the news in May that Luke Bennett was joining from WRB Underwriting.
In a letter to the Treasury Committee, Bank of England Governor Andrew Bailey said the bank does support proposals to enhance regulatory accountability.
The report has highlighted how different scenarios arising from the conflict could affect the global economy, with particular warnings on sector exposures to cyber attacks.
Gallagher is continuing its hiring splurge within its construction practice, as Marsh’s Stuart Freeman looks set to become the latest addition to the team, Insurance Insider can reveal.
Just three senior managers in insurance were reported to the watchdog during 2020/21, according to data accessed by consultancy Sicsic Advisory via a freedom of information request.
Simon Philpin will be based at Markel’s London office and report to Carl Titterton, divisional managing director of trade credit, political risk and surety.
Following the war in Ukraine, sources expect an uptick in reinsurance costs, a decline in risk appetite and business moved away from market facilities.
Current CEO Bradley will receive 78,760 shares of restricted stock over a 12-month period, as well as 135,000 stock appreciation rights with an exercise price of $43.80.
Roberta Neri had been offered the position to replace the insurer's second-largest shareholder Francesco Gaetano Caltagirone, who quit the board last month.
The world’s largest aircraft lessor AerCap has sued Russian cargo carrier Volga-Dnepr Airlines for £339mn ($427mn), accusing it of using sanctions as cover to keep eight Boeing airplanes in the latest dispute stemming from the Western crackdown on Moscow, according to Law360.
The EU, meanwhile, is proposing a law that would allow EU governments to confiscate assets of companies and individuals that try to avoid EU restrictions against Russia.
Aviva has reported a 9% increase in its Global Corporate and Specialty (GCS) lines gross written premium (GWP) compared with Q1 last year as a result of continued rate momentum and new business growth and retention.
MGA Rokstone Underwriting has hired Globe Underwriting’s head of engineering Peter Rossell and a number of his colleagues from the team in the latest expansive move for the company, Insurance Insider can reveal.
An FCA letter to the government suggests various ways to resolve issues around soaring pricing on medium- and high-rise properties with multiple occupancy.
