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Ed Louth will join Liberty next year after serving out his contractual duties at Willis. -
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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.
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The June 2024 ransomware attack produced claims across many firms.
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Cyber, mortgage and crop were identified as attractive growth areas.
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The consortium will target excess layers, providing $250mn of capacity.
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A roundup of all the news you need, including our CDK ransomware loss estimate.
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The carrier said nat-cat losses remained “well below” those of prior years.
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InsurTech funding was down 7.3% from $1.09bn in the prior quarter.
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The carrier’s retail division saw premiums increase by 7.3% to $2bn.
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The executive said the firm has grown its casualty business by 80% from 2022.
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Zaffino said AIG will continue to assess strategic opportunities after the Convex, Onex and Everest deals.
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T&Cs, as well as exclusions, remain largely unchanged, the executive said.
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The carrier anticipates a “favourable” retro renewal at 1.1.
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The Marsh-placed account renews its all-risks cover on 16 November.
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The CEO said smart-follow is a structural evolution of the specialty market.
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Adeptive co-founder and CUO Jeff Bright will lead the MGU’s US strategy.
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A roundup of all the news you need, including fatal UPS cargo crash.
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The carrier is continuing to reposition its portfolio to drive more consistent returns.
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The carrier said market dynamics remained robust, with overall pricing healthy.
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Marsh is also suing a second tier of former Florida leaders.
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The broker’s hiring to date has focused on the specialty segment.
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Rate decreases are often in double digits, but high loss trends and systemic risk persist.
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A roundup of all the news you need, including Conduit Re's CUO appointment.
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Interim CUO Nick Pritchard turned in his notice in August of this year.
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The federation, FASE, aims to connect all participants to provide a voice for European MGAs.
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YTD disclosed run-off deals total 26, with $1.36bn of gross liabilities transferred.
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APAC now represents roughly 15% of all Lloyd’s premium.
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Widespread underinsurance and low exposures will limit losses.
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A roundup of all the news you need, including analyst reactions to Scor’s Q3 results.
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Citi and Berenberg believe the carrier is more resilient than in the past.
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Both the primary and reinsurance segments benefitted from a light cat year.
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The Bermuda carrier brought a winding-up petition earlier in October.
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While attritional losses were up for the quarter, those in the carrier’s core business declined.
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Many commercial risks will have London coverage, but insured values are relatively low.
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CEO Greg Case said data centre demand could generate over $10bn in new premium volume in 2026.
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The energy broker’s career also includes a stint at Price Forbes.
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Regulators do too little to distinguish between generalists and specialists, he said.
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A roundup of all the news you need, including our Carbon scoop.
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The Spanish (re)insurer reported a group net profit of EUR829mn.
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The business has not initiated a sale process, with the wheels not yet actively turning on an exit for Apiary.
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Prices were 37.4p per £1 of capacity, according to Argenta.
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The broker grew earnings per share by 12.1% during the quarter.
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Plus, the latest people moves and all the top news of the week.
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The syndicate is expected to write ~$300mn of business in 2026.
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Opportunities for profitable growth in cat will be hard to predict, the executive said.
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The French reinsurer improved its P&C combined ratio by 7.4 points to 80.9%.
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The company reported no cat losses but saw a jump in attritional losses.
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The insurer continues to exit or reduce unprofitable lines and slowed growth as a result.
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CEO Brand said he expected to deliver double-digit growth, if “marginally” lower in 2026.
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The broker is monitoring whether the economic environment will limit discretionary spending.
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CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
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The insurer paid tribute to the executive’s lasting contributions to the firm.
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The fundraising structure for the deal includes a $600mn Convex debt raise.
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The broker will join Ron Borys’ financial lines team.
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The broker has more than 20 years’ experience in the energy market.
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Onex’s own balance sheet will become a 63% owner and AIG takes a 35% stake.
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A roundup of all the news you need, including the Convex-Onex deal.
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The broker said it was on track to hit its financial goals despite macro uncertainty.
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Greenberg has strong links with IQUW management, and praised the firm’s leadership and cultural fit.
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The revised outlooks reflect the difficult moment as Everest moves away from retail.
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In insurance, premium growth came from all lines of business except cyber.
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Rates pulling back will rein in some of the excess margin obtained over the past three years, he said.
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This publication revealed that Starr was zeroing in on the deal earlier today.
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The parties could announce the transaction soon, according to sources.
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Sources said that the businesses in Canada and LatAm were part of Everest’s original plans to sell its retail book.
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The start-up has struggled to build scale since its 2024 launch and has cut back its 2026 stamp.
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A roundup of all the news you need, including the purchase price for the AIG-Everest deal.
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AIG has agreed to pay Everest $10mn per month for nine months for transition services.
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The upgrade reflects consistent outperformance of “higher-rated peers”, S&P said.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run to 30%-250% of the country’s GDP.
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The property segment reported a combined ratio of 15.5% for the quarter, versus 60.3% a year ago.
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Despite the pricing pressure, margins for the line of business remain attractive, he added.
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The company’s stock fell nearly 9% as the market digested news of an ADC, renewal rights deal and reserve charge.
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The MGU’s second syndicate launch was delayed from January 2025.
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Matthew Hogg joined Liberty Specialty Markets in 2010.
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BP Marsh has agreed the sale of its 28.2% shareholding as part of the deal.
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A roundup of all the news you need, including Jason Keen's promotion at Everest.
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Under the terms of the offer, shareholders would receive A$45 for each AUB share.
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Jason Keen joined Everest in 2022 as head of international.
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Consolidated NWP reduction was driven by the reinsurance segment, partly attributable to two transactions in Q3 2024.
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The global insurer will pick up a $650mn portfolio of US casualty business.
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AIG will fold the portfolio into its existing business, leaving the liabilities and legal entities with Everest.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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The carrier is consolidating its venture capital activity into asset manager MEAG.
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This publication revealed the move earlier this year.
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The Australian broker, which owns Tysers, announced a trading pause.
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The move comes as Michael Creighton is made credit and political-risk director for Africa.
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A roundup of all the news you need, including the latest on Hurricane Melissa.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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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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APIP is one of the world’s largest property programs.
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The London MGA is considering various options, including a minority investor.
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The carrier recently expanded its reinsurance product suite in Bermuda.
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A roundup of all the news you need, including our analysis of the recent AWS outage.
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The number of syndicates traded at auction was the highest for a decade.
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Plus, the latest people moves and all the top news of the week.
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A canvassing of the cyber market suggests the impact will be negligible.
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The range allows “for information that could emerge beyond what is known today”.
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The appointments are aimed at offering a clearer team structure.
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Sources said he will join the reinsurance brokerage next year, after his garden leave expires.
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The EUR100mn+ Ebitda firm is courting both PE and trade suitors.
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Beazley is one of the key leaders in the London marine marketplace.
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Ben Hanback joins from Aon, where he spent almost a decade.
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The company and its main debt provider Ares agreed to relax its debt terms in April.
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The carrier is looking to achieve sustainable growth across its personal lines business.
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A roundup of all the news you need, including Acrisure's plans for a Funds at Lloyd’s vehicle.
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The hire will lead the firm’s UK and Europe operations.
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Lloyd’s investment vehicles have been shelved in past years but a strong run of returns is creating interest.
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Property pricing fell by 8%, while casualty rate increases tapered to 3%.
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Total pre-tax favorable prior period development in the quarter was $361mn, up nearly 48% YoY.
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Bill Ross has been CEO of the non-profit for 21 years.
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The financial services growth strategy could be “turbo-charged” by involving brokers, it said.
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A roundup of all the news you need, including the latest instalment in our AI series.
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AWS suffered a large-scale service disruption originating in northern Virginia.
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The Jay Rittberg-led program manager kicked off a strategic process in August.
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Howden is facing fallout from its push into the US retail market via mass hires.
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The sidecar was launched today by the Bermudian reinsurer and investment firm Carlyle.
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Sam Geddes will join Syndicate 1918 next year in an executive leadership role.
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The capital will provide retro cover for life-focused reinsurer Fortitude Re.
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The company noted tougher market conditions and higher large losses during the year.
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A roundup of all the news you need, including KKR and Quadrantis’s new stakes in Peak Re.
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Majority shareholder Fosun will continue to hold the remaining 86.7% of shares.
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The investor has made four new investments post-H1.
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The traditionally lucrative class has faced a series of challenges in the latest geopolitical crisis.
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The hire follows the departure of David Martin to GIC Re Syndicate.
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The London-based executive will relocate to Daytona Beach, Florida.
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The Boeing cargo aircraft was wet leased by Emirates.
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Christopher Reynolds and AJ Jones have been hired as business development directors.
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A roundup of all the news you need, including our exclusive on the ACT Airline crash.
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The syndicate says it will not set any top-line targets on digital follow strategies.
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EMEA CEO Laurent Rousseau said reinsurance must retain its relevance to investors.
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Munich Re is among the insurers with a stake in the German carrier.
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The executive is charged with defrauding investors out of nearly $500mn.
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The two lines will add £11mn in planned premium.
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The broker will report to Howden US CEO Mike Parrish.
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The protection covers the US insurance book for the 2024 and prior accident years.
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The change forms part of a broader leadership reorganisation.
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As two working member vacancies are arising on the Council, a ballot will be held.
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A roundup of all the news you need, including our interview with IGI CEO Waleed Jabsheh.
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Plus, the latest people moves and all the top news of the week.
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David Bell has held aviation roles at Marsh, AIG, Gallagher Re and Aon.
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The CEO said that IGI’s action within its PI book showed it was ready to walk away from unprofitable business.
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Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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A Lloyd’s consortium led by Beat Syndicate 4242 backs the MGA.
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Rachel Turk was speaking on an Aon Reinsurance Renewal Season panel.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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The facility provides coverage for property, terrorism, energy, construction and utilities risks.
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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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The reinsurer stressed it “did not shy” from cat business in 2023.
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A roundup of all the news you need, including our deep dive into entry-level hiring.
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Ark has been adding new product lines across its three Lloyd’s syndicates.
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Rachel Webber was most recently head of non-marine at TransRe.
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Jamie Smith joined Arch in 2018, taking on the senior underwriter role in 2022.
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The executive has run the MGA platform since its 2017 inception.
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A roundup of all the news you need, including our Canopius cyber exclusive.
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Debbie Hobbs joined Miller in 2021 from EmergIn Risk.
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Michael Shen will be succeeded by deputy Camilla Walker.
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The report seeks to arm parliamentarians and policymakers with “practical tools”.
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Though wildfire losses are up, total losses are the lowest since 2015.
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After six years as CFO, Mark Craig is taking on the position of chief investment officer.
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The carrier has been exploring launching into P&C organically or via acquisition.
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Brian Church has spent 20 years at Chubb.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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The reshuffle is likely laying the foundations for the eventual succession to CEO Mario Greco.
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The group will join forces with SRG subsidiary Miles Smith.
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Class actions and third-party litigation funding will drive up losses.
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A roundup of all the news you need, including our interview with Diot-Siaci's CEO.
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The European broker said a London wholesaler is the ‘missing piece’ of its strategy.
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Mike Mulray joins from Everest, where he was EVP president of North America insurance.
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Trade credit insurers are expected to respond with tighter buyer limits and stricter wordings.
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Manuel Perez will continue in his ongoing role as head of cyber for LatAm.
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Neil Ross was also appointed CUO for the broker’s MGA.
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The international division is seeking a new London market manager.
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A roundup of all the news you need, including our interview with Arcadian’s John Boylan.
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Jennings will reunite with Cameron-Williams, who he worked with at BDO.
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The London-based pair will report to commercial risk UK CEO Rob Kemp.
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The MGA is also looking to build out its US mid-market professional liability expertise.
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The governor has yet to sign a pending bill to create a public cat model.
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Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.
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A roundup of all the news you need, including our Axis credit and political risk scoop.
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White will join from Allianz trade, and Summers from Talbot.
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Plus, the latest people moves and all the top news of the week.
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The reinsurer plans to grow its US business at a higher rate than its non-US business.
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Moretti has relocated to California from London.
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Willis claims at least two $1mn accounts were also unfairly lost to Howden.
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The broker is understood to manage Brown & Brown’s account at Howden.
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Incumbent Jane Warren will retire at the end of the year.
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A roundup of all the news you need, including our scoop on AmTrust’s latest claims hire.
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The carrier has hired José David Jiménez García as managing director for Germany.
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Scott was most recently head of claims at MGA Geo Underwriting.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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The Ryan Specialty renewables MGA launched an international arm last year.
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Insurer results and 1.1 reinsurance renewals will shape the trajectory of 2026.
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A roundup of all the news you need, including confirmation of Scascighini becoming CUO for casualty at Swiss Re.
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Pryor-White founded Tarian Underwriting, which was sold to Corvus in 2022.
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In July, he took the role on interim basis from Laure Forgeron.
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Property underwriters are ‘competing fiercely’ to access mining risks.
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The recruits will join from Nephila, Aon and Malaysian Re.
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Declared events totalling just under A$2bn ($1.3bn) included one cyclone and two floods.
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The specialty insurer was recently acquired by Korean carrier DB Insurance.
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The carrier is planning a limited relaunch into the UK D&O market.
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A roundup of all the news you need, including OneGlobal’s first acquistion.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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Alliant is in the process of moving the ~$1bn of business it places with Howden to other wholesalers.
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It comes as the MGA expects to write more than $1bn of premium in 2026.
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The underwriter has worked for Markel in Singapore since 2020.
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The carrier has renewed and extended its capacity arrangement with the MGA.
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A roundup of all the news you need, including Marsh McLennan’s wholesale team launch.
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The carrier will pay special dividends only in exceptional circumstances.
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Samir Hemsi was CUO at Westfield Syndicate and sat on the firm’s board of directors.
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Joel Hodges will run the international business as managing director.
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Panellists at Insider Progress shared fixes for bias, confidence and culture.
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The newly united company has set out ambitions to double in size by 2030.
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Sources said Marsh Specialty UK growth leader Lizzy Howe will lead the operation.
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The former civil servant joined the Corporation in October 2021.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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Jo Smart has worked for Torus and Aegis during his two decades in the market.
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West Hill Capital is the main investor in the capital raise.
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Volante launched Syndicate 1699 in 2021.
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Improved performance and growing investment returns played a role in the upgrade.
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The aviation market has experienced a run of large losses this year.
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The business has been ~70% owned by White Mountains since January 2024.
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A roundup of all the news you need, including the latest Behind the Headlines podcast.
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Plus, the latest people moves and all the top news of the week.
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Julia Graham played a key role in the UK's introduction of captive-friendly regulation.
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Inigo CEO Richard Watson said the team is ready for its “second album”.
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The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.
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The executive has worked at Aon for almost two decades.
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The executive was most recently serving as CRO – insurance.
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Landa was part of the team lift led by Michael Parrish, who is CEO of the US retail arm.
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Stephan Simon left BMS in June 2024 after almost three years in the role.
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A roundup of all the news you need, including Nexus’ W&I withdrawal.
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The facility will initially focus on US, Bermudian and European business.
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High capacity is adding to competition in the upstream energy space.
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The firm offered W&I cover with capacity of up to £16mn per transaction.
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She previously served as Hub’s North American casualty practice leader.
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The Bermuda-based executive joined the Ardonagh Group’s reinsurance broking arm in March 2023.
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Spectrum joins investors ForgePoint, Hudson and MTech.
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Stephen Ridgers is leaving his current role as head of construction midcorp at Allianz Commercial.
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The pair have expanded remits overseeing property and specialty.
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Other MGAs in the transactional-liability class are also expanding into the US.
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A roundup of all the news you need, including Acquinex’s US expansion.
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The MGA secured a “significant strategic investment” from Zurich earlier this year.
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Cyberattack/data breach remains in the top slot.
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Kantara now holds a majority stake in the MGA, with the rest held by employees.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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Current backer JC Flowers will retain its holding and the cash will fund a Bermuda acquisition.
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The vehicle will now cover an E&S program jointly launched with Accredited.
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New sources of capacity lack the expertise to service rapidly developing clients.
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Abbas Juma has spent more than seven years at Howden M&A in various senior roles.
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A roundup of all the news you need, including Abbas Juma's departure from Howden.
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The upcoming Lloyd’s Lab cohort 16 will include a dedicated Irish theme.
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The company will continue its capacity partnership with the MGA until 2030.
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Susan Langley will look to strengthen global business ties and promote UK growth.
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