Operations/tech
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The unit will advise on M&A, capital raising and risk securitisation. -
CEO Greg Hendrick said the composition of the new carrier would eventually be more heavily weighted to insurance business.
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The executive will be based in London and report to Victor International president Anthony Stevens.
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Steve Agutter, who worked at AIG for nearly three decades, will report directly to Richard Watson.
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Sandy Warne will report to former Lexington chief George Stratts at the Lloyd’s start-up.
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The latest appointments include former Markel property head Peta White and former EY partner Gail McGiffin.
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One top-tier broking source claimed that across the market, claims were being settled in two-thirds of the usual time.
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The deal will help the Aquiline-owned syndicate diversify away from motor insurance.
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Six “mega-rounds” made up 69% of the total, including Ki, Next Insurance and Hippo.
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If the fundraise closes, the business will operate as a “permanent capital” monoline retrocessionaire.
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The executive will join on 21 December as an international cargo team leader.
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The business plan approval follows a slew of senior underwriting appointments at the start-up carrier.
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