Marsh McLennan’s MMA confirms deal to buy top-100 agency Graham CompanyMarsh McLennan Agency has struck a deal to acquire $75mn-revenue privately-held agency Graham Company, confirming The Insurer’s reporting last week that Marsh McLennan was imminently set to purchase one of the last large independent agencies in the US.
Marsh appoints Duca as global head of credit specialtiesMarsh has appointed Angela Duca as global head of credit specialties at Marsh Specialty, while former head Nick Robson has taken on the role of global chairman of credit specialties.
Marsh: US cyber rates fall 4% in Q2 as property bucks global moderation trendCyber insurance rates continued to moderate in the second quarter of 2023 with a 1 percent global increase, down from 11 percent during Q1, according to Marsh’s Global Insurance Market Index.
Marsh McLennan acquires Costa Rica-based broker AsproseMarsh McLennan has reached an agreement to acquire Costa Rican insurance broker, Asprose Corredora de Seguros (Asprose).
Marsh appoints Vault’s Williamson as Victor CEO and Hanuschak as chairMarsh has appointed Charles Williamson as CEO of its global MGU business Victor, succeeding Brian Hanuschak, who has been named chairman of the unit.
Marsh appoints Vault’s Williamson as Victor CEO and Hanuschak as chairMarsh has appointed Charles Williamson as CEO of its global managing general underwriting business Victor, succeeding Brian Hanuschak, who has been named chairman of the unit.
Marsh McLennan’s MMA closing in on deal to buy top-100 agency Graham CompanyMarsh McLennan Agency (MMA) is closing in on a deal to acquire circa $75mn-revenue privately-held agency Graham Company, in a deal that would mark the sale of one of the last large independent agencies in the US, The Insurer can reveal.
Ardonagh hires Miller’s Johnson and Wilson from MarshArdonagh has made a pair of senior casualty hires, recruiting Miller’s head of casualty Phil Johnson and Bowring Marsh’s casualty team leader Alex Wilson, The Insurer can reveal.
Marsh names Donnelly president of Marsh Specialty as Clarke exits for WTWMarsh has promoted Pat Donnelly to be the new president of Marsh Specialty and Global Placement, taking over from Lucy Clarke who has been linked with a move to join WTW as president of global broking.
Marsh McLennan ups FY organic growth forecast to high single digitsMarsh McLennan has raised its full-year underlying revenue growth forecast from mid- to high single digits after delivering higher-than-expected organic growth of 11 percent in the second quarter.
Marsh: Global insurance rate increases slow to 3% in Q2 despite property momentumMarsh McLennan CEO John Doyle said the Marsh Global Insurance Market Index was up 3 percent overall in the second quarter, down from 4 percent in Q1 as hardening property momentum was offset by faster softening in financial and professional liability while cyber rates stabilised.
Marsh McLennan beats consensus as underlying growth rises to 11% in Q2Marsh McLennan saw earnings come in above consensus during the second quarter with underlying growth rising to 11 percent.
AGCS marine exits continue as Hammond rejoins MarshDepartures from Allianz Global Corporate & Specialty’s London marine team have continued with senior underwriter Ashley Hammond exiting the carrier to rejoin broker Marsh, The Insurer can reveal.
Victor Insurance Exchange appoints Horgan president and Camerino COOVictor’s start-up insurance exchange has appointed Zurich veteran Paul Horgan as president, and former Everest and Buckle executive James Camerino as chief operating officer and chief claims officer.
Marsh appoints Butler as UK cyber leaderMarsh has appointed Kelly Butler as its UK cyber leader with effect from October, with the executive set to relocate from Melbourne to London for the role.
Victor launches Gallatin Point-backed reciprocal exchange to support Icat businessMarsh-owned Victor is launching a new platform backed by private equity firm Gallatin Point to bring additional property cat capacity to SME commercial risks as well as coastal residential business with products distributed through exclusive MGA Icat’s network of wholesale and retail brokers.
Marsh faces $143mn Greensill lawsuit from US finance group White OakMarsh is being sued for $143mn by US private finance group White Oak, which is alleging the broker failed to pass on information regarding problems with the insurance cover for collapsed supply chain finance firm Greensill Capital.
Marsh McLennan’s Erkan resigns to become governor of Türkiye’s central bankHafize Gaye Erkan has stepped down as a member of Marsh McLennan’s board of directors to take up the role of governor of Türkiye’s central bank.
Marsh promotes McClellan to southeast zone leaderMarsh has appointed Megan McClellan - who has been with the broker since 2012 - as southeast zone leader, overseeing eight offices.
Marsh McLennan Agency acquires Texas-based SOLVMarsh McLennan Agency, the middle market subsidiary of Marsh, has acquired SOLV Risk Solutions, an independent agency based in Austin, Texas that was founded in 2016.