Marsh McLennan
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Seven members of the construction team have resigned, including construction practice leader Patrick Baker.
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Loss assessment is ongoing but the event looks likely to be a total loss. -
Darren Howlett was a member of Marsh’s relationship management executive leadership.
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Renewable energy assets have been plagued by severe weather losses.
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Cyber insurance rates for UK clients dropped 12% on average, Marsh said.
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He will report to Cynthia Beveridge, global chief broking officer for commercial risk.
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Since 1 January, the market’s potential descent into freefall has been closely watched.
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WTW is looking to strategically hire across its business, having rebuilt its team following the failed Aon merger.
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The broker had been vying with Marsh McLennan and AJ Gallagher.
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The broker said the $125mn excess cyber vehicle is now the largest of its kind.
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The practice aligns existing capabilities from Marsh Specialty and others.
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