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NewsLiberty Mutual Re names Gilardi head of international casualty treaty
Liberty Mutual Re has promoted Vincent Gilardi to lead its international treaty casualty book.
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Liberty Mutual confirms Grace hire in global property product leader role
Liberty Mutual Insurance has announced the hire of Maria Grace from Everest Re, as first revealed by this publication, with the executive appointed global product leader, property.
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The Hanover promotes Schuler to management liability president
The Hanover Insurance Group has appointed Eric Schuler, who has been with the company for 12 years, to president of management and executive liability.
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Conduit Re swoops for Axa XL’s Kiernan as it pivots towards property XoL
Conduit Re has hired Axa XL’s Peter Kiernan as head of property underwriting, The Insurer can reveal.
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Brit to grow Syndicate 2987 stamp to £2.3bn
Brit is to grow the stamp capacity of Syndicate 2987 by 27.5 percent to £2.345bn ($2.823bn) for 2023, The Insurer can reveal.
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KKR acquires majority stake in CVC’s French broker April
Private equity giant KKR has acquired a majority stake in French insurance broker April Group from CVC Capital Partners.
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Beazley to strengthen leading Lloyd’s position with 41.3% Syndicate 2623 stamp increase
Beazley has further signalled its growth intentions for the year ahead with plans to increase the stamp capacity of Syndicate 2623 by 41.3 percent to £3.8bn ($4.6bn).
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Tradesman: Clear Blue will support expansion of NY construction market footprint
The move of Tradesman’s flagship $200mn+ contractors’ general liability (GL) program to Clear Blue will allow both parties to grow their footprint in the New York construction market but is also being seen as a major blow for R&Q’s Accredited platform, which has lost the deal to its hybrid fronting ...
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Gallagher bolsters southwest region with Bulen acquisition
Arthur J Gallagher has acquired Bulen & Associates Insurance Services, a southern California-based P&C insurance agency.
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Suncorp appoints Yao as reinsurance manager
Australian insurer Suncorp has appointed Rachel Yao to the position of reinsurance manager for group RI strategy.
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Telemedicine drives efficiencies for low-severity, high-frequency claims
The Covid-19 pandemic helped accelerate the adoption of telemedicine services, and according to the founder and CEO of telehealth firm 1.800MD, the segment’s track record in the past several years has proved it can drive expense efficiencies for low-severity, high-frequency claims.
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Corvus in talks with ILS funds and other capacity providers to support growth
Corvus is in discussions with various capacity providers including ILS funds to support its growth, while the cyber MGA is also actively hiring to support its broader continental European ambitions as it prepares to begin writing business in Germany and Austria early next year.
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Lower-than-expected Ian losses for some MGAs but capacity challenges remain
AmRisc has reduced its preliminary Hurricane Ian loss estimate on its E&S portfolio from $800mn to a range of $450mn to $650mn while several other cat-focused MGAs have seen claim frequency and severity from the storm come in meaningfully below initial expectations, Program Manager can reveal.
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Newly appointed Lloyd’s coverholder Tuckerman looks to expand beyond PL
After recently securing Lloyd’s coverholder status, Tuckerman Underwriting will look to expand product offerings beyond its initial professional liability (PL) program with a potential move into the allied healthcare market, Program Manager has learned.
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Aegis and Arch rule out East Africa oil pipeline project
Arch Insurance and Aegis London are the latest (re)insurers to rule out providing insurance for the East Africa Crude Oil Pipeline (EACOP) project.
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Rokstone adds Builders capacity to wood frame program
Expansive MGA platform Rokstone has secured $5mn of additional capacity per risk from Builders Insurance Group as it continues to build capacity towards $100mn on the wood frame builder’s risk program written by its Construction Risk Underwriters (CRU) division in the US, Program Manager can reveal.
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PERse eyes capacity to support growth amid increasingly competitive renewables market
Ryan Specialty’s renewable energy-focused MGU PERse is diversifying its book of business and eyeing opportunities in emerging technologies, while also targeting new capacity providers to support its growing platform at a time when interest and competition in the specialist sector has never been higher.
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North P&I Club to hike premiums 10% to offset rising claims inflation
North P&I Club will require a 10 percent general increase in protection and indemnity premium rates from all members for the 2023/24 policy year, amid expectations of rising claims costs owing to inflation.
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Sompo International adds Bronstein to lead NA insurance claims
Sompo International has appointed Glen Bronstein as executive vice president and head of insurance claims for the North America region, encompassing Bermuda, Canada, Mexico and the US.
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Marsh appoints Billy Aldous as new cyber VP
Broking giant Marsh has appointed McGill and Partners’ Billy Aldous as vice president, cyber.
