Howden

Chris Harris and Fiona Woodcock join the US liability and international liability teams in London, respectively, while Andrew Halls has joined Howden’s Bermudian property casualty team.

The executive worked at Howden’s office in south Florida for over two years, following a nine-year spell at Guy Carpenter.

The deal propels Howden to become the fourth-largest global reinsurance broker.

The broker said climate, conflict and capital concerns will keep driving up reinsurance rates but suggested new capital may be attracted to the market.

It is understood that Gallagher dropped out of the race weeks ago as the company lost interest in the Peruvian retail broker.

A takeover would boost Howden’s burgeoning reinsurance portfolio.

The firm ranks among the three largest retailers in Peru, and talks come amidst a pick-up in M&A in Latin America.

The intermediary’s latest acquisition targets US Fortune 1,000 clients.

In an interview alongside Align’s founder Kieran Sweeney, the legendary London market entrepreneur also disclosed his company paid $800mn for the US MGA.

The duo will report to Charlie Langdale, managing director of financial lines at Howden in London.

The intermediary also warned that inflation headwinds could affect the future cost of claims.