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Parent Aventum said co-CEO Paul Richards remains with the business. -
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Sources said the downstream energy market is unlikely to turn a profit in 2025.
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Partner Neo Combarro announced his departure on LinkedIn in May.
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It was announced earlier today that the US wholesaler had agreed to acquire Atrium.
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The PRA, FCA and Society of Lloyd’s have agreed to the changes.
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The deal comes amidst an expected spell of M&A on Lime Street.
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Willis has been adding brokers to its aviation unit in Europe and the US.
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The challenge now is balancing top-line growth with underwriting discipline amid falling rates.
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Rates continue to drop as capacity is ample, the broker said.
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The Lloyd’s syndicate was one of just a couple of reinsurance start-ups in the current hard market.
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Clients are increasingly using captives because of uncertainty around long-term capacity commitments.
