Brokers

The property reinsurance underwriter had joined Axis Re’s London team three years ago.

The rate-on-line index rise is the steepest uplift in 16 years.

Its total risk transfer programme is sized at just over $9bn, down $400mn from year-end 2021.

The scope of McCann’s new role spans across various property segments, including retrocession.

After securing a $1.6bn deal to acquire TigerRisk, Howden said the transaction will create a “much-needed fourth global player” in reinsurance.

The intermediary’s reinsurance solutions business has appointed Joanna Parsons as it looks to expand its capital advisory unit.

Sources indicated talks have been conducted using an adjusted Ebitda figure for TigerRisk of around $85mn-$90mn, which is far higher than previously thought.

The broker said its capital markets unit would be “fully aligned with the broking and analytics teams.

The state insurer expects to face a 29% increase in its premium rates, driven by exposure growth.

TigerRisk Partners has added two new brokers to its delegated authority business, including entering the Australian market as it appointed Simon Chandler as head of reinsurance broking programmes and binders.

The broker’s appointment of Jim Fiore follows his decision last year to leave QBE after nearly 30 years at the carrier.

Michael Fitzgerald has also been promoted to head of the firm’s North Carolina office.