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The broker said the line of business has experienced 22 straight quarters of rate increases to reach “some degree of profitability”. -
In her new position, the executive will oversee the South American region, excluding Brazil.
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WTW has appointed Pieter Van Ede as global head of trade credit, in a move the broker said demonstrated its commitment to growth in the class of business.
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Andrew Lewis has outlined growth plans for Xitus, a niche global legacy firm he has co-founded that will focus on non-life and reinsurance deals of $5mn-$50mn.
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Apollo said the appointment will further diversify its marine, energy and transportation division.
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It is understood that the circa £30mn-premium Roberts Armytage & Partners has a staff base of around 20.
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It is understood that Stuart Willcocks will join Howden in March as an executive director.
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For InsurTechs, the most significant feature of 2022 is that the narrative around ‘disruption’ seems to be “truly over”, Gallagher Re said.
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Under the new structure, Urs Baertschi will run P&C Re, while Paul Murray will lead L&H Re.
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The property and transportation division’s CoR deteriorated 9.5 points to 90% in the fourth quarter, driven by its crop insurance operations.
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The firm’s insurance LR rose to 60.7% from 49.1%, while the reinsurance LR moved down to 58.7% from 64.1%.
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The January 1 renewal for 2023 was “one of the most profound” the company has ever had, the CEO said.
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