Construction
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The broker continues to expect 20% to 30% property rate reductions, as well as increased market competition. -
The $20bn+ TIV data center is seen as the leading edge of significant new demand.
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The executive will join Howden’s new US retail broking operation.
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The case is now headed to appellate court.
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This follows the news that AmTrust will spin off some of its MGA businesses.
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The executive succeeds current CEO Petway, who is retiring.
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GL and workers’ comp, however, may benefit from a more competitive environment.
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The move will impact around $50mn of gross written premiums in total.
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The NFP acquisition was a “tailwind for organic growth, not a key driver”, said CFO Edmund Reese.
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Staff targeted include producers that channel business through Howden’s London wholesale arm.
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The segment is also seeing double-digit loss cost inflation.
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The move consolidates the company’s leadership of primary and excess construction casualty lines.
