Marsh McLennan
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Rates rocketed in the two most challenged areas of the market, while price deceleration continued in P&C, the broker’s index showed. -
Cyber rates continue to spike globally, along with financial and professional lines, Marsh data shows.
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The broker went on a hiring spree in 2021, a year that also saw the business post its best-ever results.
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CEO and president Dan Glaser hailed 2021 as the finest year in the company’s history.
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The broker said terms and pricing were not significantly impacted by new capacity from oil and gas players.
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In the upstream market, benign conditions are expected in 2022 as commodity prices increase.
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Michael Morgan will take over as head of professional liability in the latest management change at the finpro practice.
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Mark Peacock has been made a partner in the broker’s construction practise within its UK speciality division.
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Mark Drummond-Brady first joined Marsh in 2019 when it completed a $6.5bn takeover of Jardine Lloyd Thompson.
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The broker and ratings agency AM Best said total deployed capital grew 2.7% in 2021.
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The broker’s property cat RoL index jumped by almost 11% as capacity was more constrained for retrocessional and frequency-exposed property treaties.
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The broker has acquired the share previously owned by the Rampart Trust.
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