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Richardson has been with the firm since 2015 and was most recently vice chair and chair of international.
The program’s total limit this year is down $594mn to $1.36bn.
The broker noted a “significant variation” in renewal outcomes.
The restructuring affected less than 5% of its workforce, according to the company.
Understanding people’s strengths was seen as key to mitigating workplace challenges.
The ruling comes as insurers face growing legal pressures following the January blazes.
The broker built out Lockton Re’s US casualty and professional lines treaty book.
Sources said BMO was retained earlier this year to advise on the strategic process.
Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.
Willis’ continued reinsurance build-out has targeted London and Bermuda marine and retro specialists.
The ratings agency cited the carrier’s growth and performance.
The executive will report to US construction practice leader Jim Dunn.
The MGA and parent company Roosevelt Road Re have until July 21 to file a second amended complaint.
The vote paves the way for the finalization of the deal in the first half of 2026.
The insurer’s system has now been out of commission for over two weeks.
The rules would require paid rest breaks, among other measures.
The move follows a recent string of initiatives for Howden in Latin America.
In North America, the median W&I claim payment in 2024 was $5.5mn, the highest on record.
Westfield will receive $260mn in cash and ~2.75 million shares of First Financial stock worth about $65mn.
The decrease in premiums aligns with price cuts across the market.
The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
Sources said NY-based Lee Equity is seeking to extend its investment in the TPA heavyweight.
The platform will capture and standardise data from all submissions, the broker said.
The ratings agency cited support from parent company MSI for the upgrade.
Allstate attributed the bulk of its losses to three major wind and hail events.
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Early adopters of AI will see efficiencies – and likely increased market share, Kantar said. -
A second look at the services deals boom powered by this publication’s M&A Tracker.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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From Insurance Insider US
HSCM among stock sellers in Slide’s $408mn IPO
Slide is putting faith in tort reforms and will lean into Florida, CEO Lucas said.
From Insurance Insider US
Compre appoints HSCM’s Bardon to newly created CUO role
Rachel Bardon will also join the board of Compre's Bermuda-based reinsurer Pallas Re.
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Climate change remains a ‘pervasive threat’ to economy: Swiss Re CorSo North America CEO McGrath
Parametric insurance and multi-year, multi-line structured solutions are two tools that can help insureds manage natural catastrophes, said Katie McGrath, regional CEO of North America for Swiss Re Corporate Solutions.
From Insurance Insider ILS
State Farm, Citizens and Twia mull mega-bond deals equal to ~$3bn
The mega cat bond season in Q2 last year recorded issuance of $8.2bn.
From Insurance Insider ILS
Casualty ILS market can double annually in next two years: MultiStrat CEO
Industry sources estimate the market to be around $3bn.
From Insurance Insider
Arcas promotes Deane to MD, head of US
The firm also promoted Devin Inskeep to an expanded role as SVP, head of ratings and advisory.
Insurance Insider provides robust insights, sharp analysis and exclusive news on the global insurance-linked securities market.
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