North America
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SCS insured losses accounted for 48% of all global losses last year. -
The agency cited falling property rates and US casualty challenges.
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The CEO said Beazley would retain its brand and management and gain $9bn of premium.
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The insurer will be a cornerstone investor in the manager’s new PE platform.
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The reinsurance broker will be known as Marsh Re starting in 2027 as part of a broader company shift.
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Increased vegetation could spell trouble in the future.
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The executive’s departure comes amid a wave of cyber reshuffling in the industry.
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Guy Carp has been rebuilding its marine and energy team after a major Willis Re team lift.
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The MGA is looking to drive its commercial strategy across the globe.
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Southern is said to have diverted 36 clients with $4mn in annual revenues from Marsh.
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Sources said they expected FM to keep around $2bn of the maximum line net.
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The broker has analysed the differences in wildfire risk between Northern and Southern California.
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The multi-line program seeks to support investors, developers and operators involved in the AI boom.
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Upon closing, the unit will be renamed First Product Protection.
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The LA wildfires resulted in the largest insured loss of the year, at $40bn.
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Preeti Gureja has held senior roles at Chubb and AIG.
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The property insurer has secured significant additional capacity for its FM Intellium unit.
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The MGA platform has launched more than 20 new vehicles since 2021.
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The appointments will grow Augment’s programmes operation.
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Tokio Marine HCC, Chubb, IQUW and BluNiche are also on the tower.
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Nick Durant helped launched Lockton Re North America in 2019.
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The unit will be led by Ed Hochberg, global risk solutions leader at Guy Carpenter.
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Syndicate 3705 adds to the MGA’s roster of capacity providers.
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Weather events and potential increases in US casualty reserves remain sources of volatility.
