Marsh McLennan
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Fears relating to an economic downturn continue to dominate concerns. -
Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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The practice aligns existing capabilities from Marsh Specialty and others.
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The new facility is backed by Lloyd’s syndicates and London-based international insurers.
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Commercial insurance pricing remained flat, increasing by 3% globally over the period, the same as the prior quarter.
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Announcements and interviews at the UN conference have shed light on the tools emerging to help carriers decarbonise their underwriting portfolios.
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The hydrogen industry is a key pillar of the energy transition, but securing insurance coverage is challenging.
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The office will be led by chief actuary Faisal Haddad.
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The rate-on-line index rise is the steepest uplift in 16 years.
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Marsh McLennan’s Bermuda platform issued $68.3mn in private deals last year.
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The broker put global primary property rates up 8% on average in Q4, a one point slowdown.
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The broker and ratings agency AM Best said total deployed capital grew 2.7% in 2021.
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Finpro pricing is still soaring due to cyber ransomware claims and continued D&O pressure.
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Year-to-date lite and private cat bond placements total $220mn, up 30% from last September.
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The new follow-only syndicate has worked with Google Cloud to develop a digital offering.
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Establishing federal backing would allow insurers to cede risk to central government.
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The policy would have likely paid out due to the coronavirus crisis.
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Howard left JLT in 2019 following Marsh & McLennan’s takeover.
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Ellis will be replaced by Michael Rouse, who has been promoted to lead its property practice.
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Chris Demuth was previously a vice president at JLT Capital Markets.
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Keith Harrison has resigned from the merged reinsurance business at Guy Carpenter following the paying-out of retention bonuses last week.
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The division will be led by former Guy Carpenter executives.
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The JLT index is below levels recorded in 2016 and around 30 percent below 2013 benchmarks.
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The broker’s global catastrophe rate-on-line index showed property reinsurance rates fell by 1.2 percent at 1 January.
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Conservative initial loss picks may have helped limit adverse development from the 2017 hurricanes, according to JLT Re.
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JLT CEO Dominic Burke said acquirer MMC valued the entrepreneurial culture at the firm.
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Aon corporate solutions director Vijay Mavani will start at JLT as a partner in capital solutions in 2019.
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Super-cat events have foiled modelling firms but moderate windstorms have been well captured, the broker found.
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The executive has joined the Bermudian ILS manager as a senior analyst.
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Florida insurer Southern Oak has returned to the market with its eighth cat bond.
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Early-range forecasts for an above-average season may be reduced.
