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The deal will “capitalise on a dynamic competitive landscape and continue our strong growth trajectory”, Rod Fox says. -
Attritional losses hit a 14-year high due to worsening casualty trends and man-made losses.
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Nancy Bewlay takes on the role of global CUO while Sean McGovern becomes interim CEO for the UK and Lloyd’s market.
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The executive replaces Martin Mueller, who leaves the restructuring primary carrier for a group finance role.
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Carriers are paring back their appetite and reducing exposure as they brace for insolvencies due to the virus.
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The move comes as Lockton continues an expansion into new areas of the reinsurance market.
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Stress testing put 2020 North Atlantic hurricane exposure at $6.4bn and credit default losses at $2.4bn.
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Property reinsurers seem to be preparing to draw the battle lines on Covid-19 claims around T&Cs.
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Felipe Moncaleano Botero is one of three men named in a criminal complaint.
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Atish Suri and two others defect to the competitor.
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Hiscox, Willis and Lloyd's were among the companies that faced up to the Covid-19 crisis, while US lawmakers also had their say.
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Losses were driven by claims on Canadian dentists’ cover and UK exposure.
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