Tysers
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Rönesans covers lines including aviation, energy, engineering and liability. -
Henrietta Butcher leaves Tysers after decades with the broker.
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The division reported revenue up 13.3% at A$465.9mn.
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Neil Nimmo was CEO and chairman at Lockton International for more than 16 years.
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The team is led by industry veteran John Lentaigne.
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Plus, the latest people moves and all the top news of the week.
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The IGH closure is bitter for employee investors left with nothing – but such investments are inherently risky.
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After a two-year delay, more than 100 staff investors will be out of pocket.
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The promotion comes as the cargo market faces talent turmoil.
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The division reported revenue up 10.4% at A$204.2mn.
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Seven team members are set to exit, including team lead Cooke.
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Steve Jolley has held several CIO roles, including at Ardonagh Specialty, Price Forbes and JLT Group.
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The executive joined the firm through its acquisition of RFIB.
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In its first full year of AUB ownership, the broker reported a 24% Ebit margin.
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John Silcock was CEO of entertainment broker Robertson Taylor.
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The MSC Aries was seized on Saturday by the Islamic Revolutionary Guard Corps.
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WTW and Tysers collaborated with PPL to design and implement the pilot.
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The broker’s $47bn DoJ fine had “no material impact” on profits.
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The 200-year-old firm is not the only one to be caught up in watchdogs’ investigations into corruption and bribery controls.
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The DoJ also hit rival reinsurance broker Tysers with a $36mn penalty and administrative forfeiture of around $10.5mn.
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Chief of IRS Criminal Investigation said Tysers had "eroded the process of fair and open competition".
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The broker was being investigated in relation to suspicions of bribery and corruption with regards to one specific client in the country.
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AUB Group CEO Mike Emmett will step in as CEO of Tysers on an interim basis.
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The executive has extensive experience in the reinsurance broking sector both in Asia and London, having worked for Aon Benfield, Cooper Gay and Willis Re in the past.
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The team will be headed by Tysers’ MD Paul Chapman, joined by Claffey, Freeman and Thornhill.
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AUB said the placement bookbuild was “significantly oversubscribed” and only allocated shares to existing investors as a result.
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Tysers Retail Limited was established as a separate entity in the wake of AUB’s acquisition of the broker.
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The broking CEO set out the London wholesaler’s growth strategy a year on from the AUB takeover announcement.
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The broker focused on African, North Sea and Latin American business at Primassure and has 30 years’ experience.
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The broker benefited from new cargo business, higher war rates and a rebounding contingency segment.
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Insurance Insider reported last year that the bloodstock team had resigned en masse to join Howden
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It is understood that Tysers’ Latin America head Hugh Powell, who is also a shareholder in the South American operation, has left the UK brokerage.
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The London wholesaler is ‘performing well’ according to parent AUB Group.
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It is understood that the executive joined THB Peru in a managing director position.
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The former Chubb Europe president will replace outgoing chair Peter Haynes.
