Brown & Brown
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The broker is understood to manage Brown & Brown’s account at Howden. -
The business is beginning to integrate following a $9.8bn acquisition.
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The executive has been serving as COO since February.
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The move includes One80 Intermediaries, formerly part of Risk Strategies.
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Not everyone will emerge unscathed as brokers navigate the slow-growth environment.
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The Risk Strategies parent company had also been the subject of bids from Marsh and Howden.
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Brown & Brown fell 10% and Ryan Specialty 8% as investors digest the deteriorating outlook.
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The broker posted a 6.5% drop in organic growth YoY.
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Some E&S business is flowing back to the admitted market but so far it is “anecdotal”.
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This is its second significant wholesale acquisition this year following the $54mn takeover of NBS.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Weatherbys Hamilton provides private client, bloodstock and farm coverage.
