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The move follows another recent energy-related departure from Willis, with news that McGill and Partners had hired former upstream energy broker Ian Elwell.
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Account wins include Swedish steel manufacturer SSAB and iron ore producer LKAB, both won from Aon.
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He will work closely with Amy Barnes to support clients through the climate transition.
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The number #3 reinsurance broker still needs to land the integration and fend off poaching from rivals, but it has held the line well and turbulence will lessen.
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In an interview, the new Gallagher Re CEO noted that his former company had been weighed down by nearly two years of uncertainty, telling this publication: “That stops today.”
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The group CEO also observed that the Big Three reinsurance brokers do have a competitive moat based on their scale.
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Leadership will remain in place at the Northampton-based broker following the transaction.
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The business will operate in lines of business including new build warranty and commercial latent defects.
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Acrisure Re chairman Jason Howard said carriers welcomed the collapse of the deal.
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David Howden lamented the lack of start-up brokers in the market at Insurance Insider’s London Market Conference.
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The broker will be responsible for leading and developing the surety offering.
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The broker has hired Aon’s Richard Laver as market management director.
