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The carrier pegged its claims expenditure for the LA wildfires at EUR1.2bn. -
The group's reinsurance book was also hit with cat losses during the quarter.
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The carrier reported $2.8mn of favourable development compared to a $3.3mn charge a year ago.
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The broker joined the Ardonagh Group from Gallagher’s Alesco in 2017.
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Montanaro will remain at Lloyd’s as an adviser until the end of May.
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The marine market has experienced another flurry of personnel movement.
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The division reported revenue up 10.4% at A$204.2mn.
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The departures come after long-serving MD Andrew Hills left the business last year.
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A roundup of all the news you need, including Price Forbes’ promotion of Nawaf Hasan.
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An increase in tonnage from new and existing members drove up income.
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PIB’s broadened sale process is symptomatic of wider investor sentiment around brokers.
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The MGA launched last October with a B.P. Marsh investment.
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