Marsh McLennan
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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.
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Marcia Rosset and Mike Dumenil are set to join the business.
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Adam Lantrip, Sam Levine and Laura Burke have joined the new division.
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Her role will focus on expanding Bluestream's growth in the US and worldwide.
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Jenny Yu, who was at the German reinsurer for nine years, will join the broker in January.
