Marsh McLennan
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Plus, the latest people moves and all the top news of the week. -
Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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The broker’s new business and client services division is targeting $400mn of savings.
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Earlier this week, the broking house announced a rebrand to Marsh.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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Plus, the latest people moves and all the top news of the week.
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Willis claims at least two $1mn accounts were also unfairly lost to Howden.
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Sources said Marsh Specialty UK growth leader Lizzy Howe will lead the operation.
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The aviation market has experienced a run of large losses this year.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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Ex-Western Europe CRB head Alberto Gallego and colleagues left for a Marsh joint venture.
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Company said defendant ‘distraction’ can’t make up for flimsy arguments.
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After spending 20 years at Aon, Goodman will start a senior executive position with Guy Carpenter.
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Parrish, now Howden US CEO, and his colleagues said they didn’t violate contracts.
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Patton Kline succeeds Glod as US aviation and space practice leader.
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A key hearing in the poaching case is set for 4 September in New York.
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US retailers have various levers to pull to put pressure on potential new competitors.
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The broker has been on an aggressive hiring spree overseen by Lucy Clarke.
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However, group organic growth among public brokers has slowed to pre-pandemic levels.
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The plaintiffs seek a declaration that part of Marsh recruits’ restrictive covenants are unenforceable.
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The suit asserts the raid will cause “incalculable harm” to the broker.
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Plus, the latest people moves and all the top news of the week.
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The broker is looking to move as much of the book away from its adversary as possible.
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The lawsuit claims more than 100 employees left with Parrish and his three reports.
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Staff targeted include producers that channel business through Howden’s London wholesale arm.
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Property rates declined by 7% globally in the second quarter.
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The expansive European broker is targeting Mike Parrish’s team and former McGriff staff.
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Claims were concentrated in the US, with a significant increase in D&O class actions.
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The technology will help analyse growing and emerging risks, especially climate change.
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Total revenues grew 12% due to the contribution from acquisitions.
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The latest hires follow Rob Hale’s move to Willis.
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The broker made several senior energy hires from Marsh last year.
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Marsh’s property book saw an average decline of 9% in Q1, a trend that appears to have continued through Q2.
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Willis has been adding brokers to its aviation unit in Europe and the US.
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Clients are increasingly using captives because of uncertainty around long-term capacity commitments.
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Gallagher, Marsh and Aon also faced sizeable outstanding premium payments as at Q4 2024.
