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Wholesale

The rise of the big three wholesalers

Eighteen years ago in the aftermath of Eliot Spitzer’s assault on the broking industry, Marsh, Aon and Willis all sold their wholesale brokerage operations.

Fri 29 Sep 2023

Exclusive

Wholesale

Retailer wholesale plans stir fresh interest at WSIA

Suggestions of serious endeavours by the big three retail brokers to make moves into the wholesale arena – including a mooted plan by Marsh utilising its Victor platform – were rife on the sidelines of the WSIA Annual Marketplace 2023 in San Diego last week, E&S Insurer can reveal.

Fri 29 Sep 2023

Prime hires RT Specialty’s Schlueter to lead new healthcare PL program

News

Professional liability

Prime hires RT Specialty’s Schlueter to lead new healthcare PL program

E&S carrier Prime Insurance Company has hired industry veteran Bart Schlueter from RT Specialty to lead the launch of a new program offering primary and excess limits of up to $20mn for distressed and hard-to-place hospitals, physicians, senior care/long-term care, and social services/behavioral health institutions.

Fri 29 Sep 2023

FCA unveils new rules for insurers of leasehold buildings after Grenfell

News

Regulation

FCA unveils new rules for insurers of leasehold buildings after Grenfell

The UK’s City watchdog has unveiled a series of new measures to support leaseholders in the multi-occupancy buildings insurance market, including a ban on insurers recommending policies based on how much brokers could earn in commission.

Fri 29 Sep 2023

Comment

E&S

Adding value in a stabilising market

If there was one major theme to emerge from the WSIA Annual Marketplace 2023 in San Diego last week, it was perhaps that there was no major theme – or at least no emerging market issue hijacking discussions in meetings or at the bar.

Fri 29 Sep 2023

Interview

Wholesale

B&W’s Gatewood: Largest US PL wholesaler attracting capacity in tough market

Market conditions remain challenging in the personal lines segment due to catastrophe activity, according to Burns & Wilcox’s Bill Gatewood, although the largest US personal lines wholesaler has been an outlier in attracting capacity as underwriting conditions improve.

Fri 29 Sep 2023

Amwins CEO Purviance: Rate moderation expected in year ahead

Interview

Rates

Amwins CEO Purviance: Rate moderation expected in year ahead

Amwins CEO Scott Purviance and president James Drinkwater have said placements in tough market segments such as property are getting done “for a price”, although they expect rate movement to moderate in the year ahead.

Fri 29 Sep 2023

News

Cyber

Zywave panel: Cyber reinsurers to increase focus on tail risk at 1.1

Cyber reinsurers will increasingly focus on tail risk at the upcoming renewals amid growing privacy claims, while war exclusions will remain a hot topic and loss ratio caps are not going away, speakers at a Zywave conference have suggested.

Fri 29 Sep 2023

Finch duo hit with asset freeze in wake of AFL fraud case judgment

News

Legal dispute

Finch duo hit with asset freeze in wake of AFL fraud case judgment

The founders and former executives of AFL Insurance Brokers, Alec and Robert Finch, have had their assets frozen and personal spending capped under a series of measures imposed on them after a London court found the duo committed fraud by misrepresenting company financials.

Fri 29 Sep 2023

News

Casualty

Axis and Stone Point launch casualty-focused collateralised reinsurer Monarch Point Re

Axis Capital has partnered with Stone Point Credit Adviser to launch a new collateralised reinsurer called Monarch Point Re, which will underwrite a book of casualty business retroceded by subsidiaries of the Bermudian business, and which will be led by former Montpelier Re CEO Christopher Harris.

Fri 29 Sep 2023

TV

Sompo Intl’s James: 1.1 renewal discussions shaping up to be “rational” and “sensible”

ReinsuranceMonth

Renewals

Sompo Intl’s James: 1.1 renewal discussions shaping up to be “rational” and “sensible”

Following a year of “massive” change for the industry, including big shifts in terms and conditions, pricing and risk volatility, both cedants and end clients are seeking stability, according to Julian James, CEO of global markets at Sompo International Commercial P&C Insurance.

Fri 29 Sep 2023

News

Cyber

Moody’s: Buyers to maintain cyber coverage despite premium hikes

Despite a 50 percent median increase in cyber premiums between 2020 and 2022, only 3 percent of debt issuers said they planned to reduce the amount of cyber coverage they purchase, a new survey by Moody’s has found.

Fri 29 Sep 2023

TV

Navigators’ Garrison: Carrier looking to take advantage of strong property conditions

The Insurer TV

Wholesale

Navigators’ Garrison: Carrier looking to take advantage of strong property conditions

Navigators’ head of wholesale Mike Garrison doubled down on his firm’s interest in growing its property footprint, and said the carrier is no longer getting questions about its commitment to the channel after being purchased by The Hartford in 2019.

Fri 29 Sep 2023

Vesttoo accused of delaying process as White Rock pushes for legal discovery

News

Legal dispute

Vesttoo accused of delaying process as White Rock pushes for legal discovery

Vesttoo has been accused of seeking to obstruct and delay the White Rock cell liquidation and restructuring case set to be heard in the Bermuda Supreme Court through a series of “invalid objections” made in a Chapter 15 relief filing.

Fri 29 Sep 2023

TV

News in Focus

Wholesale

Axis Wholesale doubles down on E&S sector and eyes lower mid-market growth

The launch of Axis Capital’s dedicated wholesale division represents a doubling down on a sector that has seen consistent strong growth in recent years, according to Carlton Maner.

Fri 29 Sep 2023

TV

The Insurer TV

Climate

Climate change forces a review of how to profitably underwrite business: RPS’ Nadler

The year has seen unprecedented weather events that are making climate change hard to deny, according to Risk Placement Services’ Christa Nadler. The climate conditions are also forcing insurers to review how to profitably underwrite business, the executive told The Insurer TV at the WSIA Annual Marketplace 2023.

Fri 29 Sep 2023

Region

Topics

Events & Conferences

Content Types

The rise of the big three wholesalers

Retailer wholesale plans stir fresh interest at WSIA

Prime hires RT Specialty’s Schlueter to lead new healthcare PL program

FCA unveils new rules for insurers of leasehold buildings after Grenfell

Adding value in a stabilising market

B&W’s Gatewood: Largest US PL wholesaler attracting capacity in tough market

Amwins CEO Purviance: Rate moderation expected in year ahead

Zywave panel: Cyber reinsurers to increase focus on tail risk at 1.1

Finch duo hit with asset freeze in wake of AFL fraud case judgment

Axis and Stone Point launch casualty-focused collateralised reinsurer Monarch Point Re

Sompo Intl’s James: 1.1 renewal discussions shaping up to be “rational” and “sensible”

Moody’s: Buyers to maintain cyber coverage despite premium hikes

Navigators’ Garrison: Carrier looking to take advantage of strong property conditions

Vesttoo accused of delaying process as White Rock pushes for legal discovery

Axis Wholesale doubles down on E&S sector and eyes lower mid-market growth

Climate change forces a review of how to profitably underwrite business: RPS’ Nadler