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Smart-follow capacity has ballooned but that doesn’t mean key facilities will keep growing.
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Insurance Insider looks at key drivers of supply-demand dynamics in global specialty markets.
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The facility has expanded to cover construction and renewable energy risks.
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The newly created role will have responsibility for algorithmic and digital distribution channels.
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McGill’s Underscore platform will identify eligible risks for Aegis to follow.
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The chief of market performance urged underwriters not to follow the herd.
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The facility is led by Beazley’s Smart Tracker.
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Executives also agreed that facilitisation is a structural market change.
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The business was launched in July to focus on the smart-follow market.
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Innovation emerged as the critical target for attracting new business to London.
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The specialty MGA launched in June this year with backing from BP Marsh.
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Carriers must position themselves as underwriting bifurcates.
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The CEO said smart-follow is a structural evolution of the specialty market.
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The syndicate says it will not set any top-line targets on digital follow strategies.
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Paul Sandi, head of reinsurance, will serve as active underwriter for the new syndicate.
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The broker announced the launch of its cross-class facility this week.
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Placement head Delchar said Gemini will be available across its global book of in-scope risks.
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Doan Nguyen-Huu also succeeds Claudia Valencia Lascar as unit head.
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Dan Prince said the firm will work with brokers’ existing relationships.
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The new Lloyd’s chief of market performance also outlined target growth areas.
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Markel is prominent in the growing smart-follow market.
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The CEO transition is already visible in messaging on growth as rate change picks up.
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The CUO noted that market-wide rate change in Q1 was down 3.3%, coming in below plan.
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New broker vehicles are setting up amid accelerated softening in D&F.
