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The latest damaging D&O loss comes as the market hardening continues to accelerate. -
All options are on the table including a part sale, full sale, Spac IPO or a transaction with Cantor Fitzgerald.
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BI losses increase the claims tally on the Aon-brokered policy.
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The broker is about to tell staff how the long-awaited $125mn of incentives will be allocated.
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The carrier’s decision to withdraw comes just over a year after the partnership was announced.
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The launch will mark the third follow-only syndicate in the works within the Lloyd’s market.
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Sources predict Lloyd's will be the executive’s first platform, with £200mn a likely target stamp.
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The alternative risks MGA was set up in 2019 by fellow Hiscox alumnus Adam Holberry.
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The executive resigns from his role as global broking head for facultative natural resources.
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Eventual payouts could vary wildly depending on the interpretation of trends clauses, lawyers note.
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The space will have plastic screens between desks and temperature sensors, while lift numbers will be limited at 1 Lime Street.
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The departures come as Aon works to close its takeover and as an anticipated upstream sector recovery stalls.
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