WTW
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The two CEOs say the combined entity will focus on emerging risks, new forms of capital access and “under-served” pockets of the market. -
The broker pegs losses in the year to date at $200mn, compared with $1.25bn last year.
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New hires announced today include Lauren Escher from AIG as US general aviation practice leader.
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It will be led by senior M&A lawyer Rob Faasen.
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Improved underwriting margins thanks to hardening rates were eclipsed by falling investment returns in the first half.
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The broker’s Clips survey also recorded a significant acceleration in property prices.
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Warren Berkstresser will focus on US property treaty and specialty programs and open and run the broker’s new Seattle office.
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Both companies secure more than 95% shareholder support for the transaction.
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The companies claim “overwhelming” investor support at meetings today.
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Reserves in scope have not been finalised, but sources estimated the figure to be in the low hundreds of millions of dollars.
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The executive leaves the MMC business, where he was most recently head of UK finpro placement, after three decades.
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The partnership aims improve infectious disease risk transfer and mitigation.
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