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Cedants were able to “challenge the status quo” with aggregates back on the table, the broker said. -
The executive told this publication he will have more time “to propel” embedded auto MGA In The Car.
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The company said the reduction was due to years of steady improvements.
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Richardson has been with the firm since 2015 and was most recently vice chair and chair of international.
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The programme’s total limit this year is down $594mn to $1.36bn.
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The broker noted a “significant variation” in renewal outcomes.
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The deal, revealed by this publication in December, values the firm at $14bn.
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Niala Butt joins from CNA Hardy, where she was casualty claims manager.
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The measure could have landed insurers with extra tax on US business.
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The aerospace, energy and marine markets all sustained multiple significant losses in H1.
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The deal puts an equity value of £275mn on the broking firm.
