Marsh McLennan

Donnelly will take up the role on 1 January 2024 and will be responsible for Marsh’s retail and wholesale broking activities.

This publication confirmed the move in September

The broking executive had a key role in the launch of Marsh’s Fast Track facility.

Commercial insurance pricing remained flat, increasing by 3% globally over the period, the same as the prior quarter.

Marsh cites its primary listing on the NYSE, along with the costs and administrative burdens of listing on LSE, as reasons for delisting.

Current cyber brokerage leader for the US and Canada, Meredith Schnur, will succeed Reagan as cyber practice leader, US and Canada.

Hema Mistry returns to the UK to run the finpro division, following a stint at the broker in San Francisco.

Plus, all the latest company results, executive moves and top news from the week.

Last week, this publication revealed that Howden agreed to pay Guy Carpenter in excess of £50mn ($61mn) to settle the poaching suit related to Massimo Reina and a defecting European team.

Concern around prior-year loss development and social inflation is impacting the market.

Adjusted earnings per share increased by 33% and the group also reported margin expansion.

Sources said a move towards facilities was the latest evidence of market softening in the D&O class.