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The Japanese carrier noted the impact of increasing natural disasters. -
Holmes, Froideval and Cheak will head up the units for London, Europe and Asia.
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The company’s parent MS&AD reported group profit of 691bn yen for the year.
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The carrier benefited from top-line growth and lower adverse PYD.
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P&C combined ratios were higher than Q1 2024, and wildfires impacted Hannover Re most.
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The syndicate-in-a-box is the first Lloyd’s syndicate to operate outside London.
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Tornadoes have killed at least 32 people in three states.
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The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
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Motion Specialty will initially focus on high value home and flood insurance in the US.
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The broker replaces Louise Nevill, who is joining Axa XL as CUO for specialty.
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A roundup of all the news you need, including Aon's aviation broking appointment.
