Marsh McLennan
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The intermediary’s CEO Will Underwood will take on the additional role as Marsh as private equity leader nationally.
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Aon will manage the captive, while Marsh is placing excess insurance for the digital currency platform.
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BGCI’s aviation start-up looks to develop airline, aviation, satellite and reinsurance capabilities.
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Sarah Stephens will be based in London and be responsible for cyber insurance across the international division.
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The parties agreed to a “mutual resolution of all claims”, noted Guy Carpenter’s legal counsel.
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The broking giant also resolved its case against four former employees who left for the smaller rival.
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The broker said a significant loss could trigger a drop in capacity, which is at an all-time high.
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Rates increases of 25 percent and far higher are set to accelerate in the coming year. -
Lawyers for the parties told a judge it has “agreed in principle” to settle the case against four former JLT Specialty staff members.
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Three Lloyd’s syndicates have indicated they will close in the last month. They wrote $670mn combined in the last year disclosed.
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All four hires will start in their new roles in 2020.
