The Hartford
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Clayton will join the carrier’s global credit and political risks team, reporting to James Wilson, head of credit and political risks.
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She joins the D&O team in London following the exit of senior underwriter Tim Carpenter, who is joining BHSI.
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Personnel movement in the class remains elevated as carriers look to secure top talent while underwriting conditions are profitable.
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The Connecticut-based insurer said $138mn in cat losses stemmed from its commercial lines segment, while $47mn came from personal lines.
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After this publication reported The Hartford’s exit from AVN52B, the carrier’s Lloyd’s business has now confirmed its exit from the entire aviation war class.
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Jack Bardrick will manage broker partnerships, facilitate new business opportunities and develop growth initiatives.
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It’s understood that Inigo pulled out of the class due to rising reinsurance costs, while The Hartford has exited following the departure of its head of PV and terrorism, Grant Witheat.
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The company increased its attachment point on the $200mn aggregate cover to $750mn, up from $700mn.
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The hire follows the appointment of Keith Mather to head up financial lines for the international business.
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Keith Mather will be responsible for building a book of international retail and wholesale financial lines business, as well as the long-term growth of global specialty.
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The former head of international financial lines will report to executive chairman Matthew Fosh.
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Syndicate 1221 is expected to return to underwriting profitability for 2021, The Hartford’s head of international Carl Bach said.
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The Hartford’s customers will have access to Swiss Re’s globally standardised property wordings and online platform.
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The carrier has faced a string of resignations amid a battle for talent in the D&O market.
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Garrison will lead the strategic direction, growth, and underwriting for the Navigators brand as well as manage relationships with the company’s wholesale distribution partners.
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David Robinson will work in a senior business management role and report to CEO Matthew Fosh.
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The carrier has seen an exodus of financial lines staff amid a battle for top talent in the line of business.
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The latest Plane Talking report also highlights that The Hartford and Inigo are finalising preparations to enter the airline market.
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The nature of the hire demonstrates the level of competition for top talent in the sector.
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Speaking at an investor conference on Monday, CFO Beth Costello said the company expects losses to fall well below Hartford’s cat program retention.
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Plus the latest senior executive moves and all the top news from the week.
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The surge likely reflects talk in the buy-side community fuelled by tracking the latter's private jet.
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A number of employees have recently resigned from the carrier as high staff displacement continues in the D&O space.
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Staff displacement has been high in the D&O market after a period of dramatic rating adjustment in 2020.
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Hiscox, a lead market for D&O in London, takes its peer’s head of London market financial lines.
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Tegron Capital will launch in July and focus on excess-of-loss cover for publicly traded companies.
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The Chubb CEO seeks to quash speculation the carrier may return with a sweetened takeover proposal.
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Plus in-depth analyses of the accident and health and airlines markets.
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Chubb reiterates its disappointment about The Hartford’s refusal to engage.
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Chubb offered to pay up to $70 per share for the business after its $65 offer was publicly rejected.
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The Week in 90 Seconds: Biometric data and cyber; Greensill collapse; Guy Carpenter’s Priebe on pandemic risk; Texas storm; Marsh McLennan’s Glaser
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Chubb made an unsolicited bid for the carrier last week at a 25% premium on its weighted average share price.
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Plus the latest executives on the move and all the top news from the week.
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The proposed consideration represents a mix of stock with the majority in cash.
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The carrier says its board of directors is "carefully considering" the proposal.
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The Hartford share price jumps 12% on report of deal talks with Chubb.
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Christopher Swift says more rate is needed in some areas including the London market and certain excess lines.
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The additional raise takes the carrier’s committed capital to $3.2bn.
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Sandy Warne will report to former Lexington chief George Stratts at the Lloyd’s start-up.
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The ratings agency has also lowered the ICR of The Hartford subsidiary.
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Premia will use the entity as a platform for legacy deals in the continental European insurance market.
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Mini-MDLs will be established for some lawsuits brought against Arch, United Specialty and Society Insurance.
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The broker notes that Covid-19 will have a long-term impact on classes of business including D&O.
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The MGA platform has acquired the renewal rights for a book of cargo, hull and liability policies.
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William Steinberg was senior vice president and commercial property head at the AIG unit.
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The ratings agency expects Navigators’ future underwriting results to be affected by lack of scale.
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A bill circulating in Congress would make the industry retain the first $250mn of pandemic risk, a proposal that has split industry opinion.
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The case follows lawsuits lodged earlier this month against Travelers by the firm.
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