Marsh McLennan
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The broker had approached underwriters to consult on additional brokerage of 0.5%. -
Insurance Insider reported last year that the facility was relaunching.
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Trading on a data-first approach marks a 'new era of innovation', execs said.
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Shannan Fort was a partner in McGill’s FI and cyber team.
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The broker also announced Rob Geraghty as her successor.
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Falling rates in finpro and increased competition in property drove the trend.
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The CEO flagged a trend towards mega settlements and said there was concern around the direction of loss costs.
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Property rate increases decelerated to 6% in Q4, compared to slowdowns of 7% in Q3 and 10% in Q2 2023.
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The broker’s growth was down 3 points on the 10% reported in Q3 and level with the 7% posted in Q4 2022.
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The executive has headed up Marsh’s Pacific region for the last four years, having joined via the acquisition of JLT.
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The senior upstream energy broker departed Marsh last autumn.
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