Marsh McLennan
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This publication revealed the GC trio were set to join the start-up broker in June. -
Fears relating to an economic downturn continue to dominate concerns.
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Marsh has accused its former execs of flouting a preliminary injunction.
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Marsh is also seeking expedited discovery in a related talent poaching case.
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The lawsuit alleges that Marsh misnamed the insured party on the policy.
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Parties will now brief on a request for a preliminary injunction on an expedited timeline.
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Liberty recently restructured its UK and MENA underwriting leadership.
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Chris Lay will retire from the business in Q1 2026.
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A motion by defendants to dismiss the case was also denied.
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Tim Wakeman joined Marsh in 2021 and previously worked at Elseco.
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The move comes after the withdrawal of a complaint in the Delaware court.
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A New Jersey judge also refused to grant WTW’s request for a restraining order.
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The Marsh-placed account renews its all-risks cover on 16 November.
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Marsh is also suing a second tier of former Florida leaders.
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The move comes as Michael Creighton is made credit and political-risk director for Africa.
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Willis Re kicked off its talent acquisition with mass hiring from Guy Carpenter over the summer.
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The broker said WTW hasn’t shown it was irreparably harmed by the defection.
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Property pricing fell by 8%, while casualty rate increases tapered to 3%.
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Plus, the latest people moves and all the top news of the week.
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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.
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The claim hits the downstream market following a loss-hit start to the year.
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He was most recently Marsh’s US manufacturing and automotive practice head.
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Premium rose across the top 15 P&C risks in 2024.
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The facility, backed by six global cyber insurers, offers limits of as much as EUR5mn.
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Brokers across London and Bermuda have handed in their notice to join the start-up reinsurance broker.
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Saul Nagus is the latest from Marsh’s aviation unit to join WTW.
