North America
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He was most recently Marsh’s US manufacturing and automotive practice head. -
The executive brings more than 25 years of insurance experience.
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The soft market continued through H1 2025, especially on shared programs.
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Gallagher Re’s Lara Mowery said mid-year renewals marked the “beginnings of capacity” emerging.
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Cedants were able to “challenge the status quo” with aggregates back on the table, the broker said.
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The company said the reduction was due to years of steady improvements.
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Richardson has been with the firm since 2015 and was most recently vice chair and chair of international.
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The programme’s total limit this year is down $594mn to $1.36bn.
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The broker noted a “significant variation” in renewal outcomes.
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The measure could have landed insurers with extra tax on US business.
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