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The noise around London’s expense base in particular has got louder in light of a Lloyd’s crackdown on syndicate profitability.
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The reorganisation will entail no redundancies among Mapfre Global Risks’ 290 staff.
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Paper providers are demanding greater transparency from MGAs as the need to streamline costs puts renewed pressure on the distribution model. -
The increase in securities class actions is not a fleeting thing because it is part of a larger shareholder activism movement that has loomed for several years now.
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The Spanish (re)insurer will fold the UK, French and Italy Global Risks branches into Mapfre Re, while the unit’s German operation will close in October.
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Kevin Mooney will run the Ascot MGA's SME casualty business in a newly created role.
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Is the London market MGA bubble about to burst?
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Panellists at the Managing General Agents’ Association conference said the need to bring capital closer to risk means ILS funds and reinsurers will gravitate towards direct business.
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The executive previously worked at high net worth specialist Horizon and Oak Underwriting.
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The Capita Managing Agency CEO is expected to take up his new role later this year, replacing interim chief Robert Andrews.
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Zurich said the MGA market represented a significant business opportunity for the firm to access different portfolios and expertise.
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Investor BP Marsh valued the MGA at more than $140mn as of year-end.
