Marsh McLennan
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Amynta Ease-of-Business (EOB) president Arthur Seifert said he expects MGAs to move away from the popular Dutch auction process and instead find one party that’s a good fit. -
Broker and commercial carrier trends separate as inflation slows but rates stay elevated.
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Kowell succeeds Michael Pellegrini, who was appointed head of specialty for both markets last month as Michelle Sartain took over as US and Canada president.
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Based in Washington, DC, she will report to Pat Tomlinson, Marsh McLennan US and Canada CEO and Mercer president.
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Commercial insurance pricing remained flat, increasing by 3% globally over the period, the same as the prior quarter.
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Marsh cites its primary listing on the NYSE, along with the costs and administrative burdens of listing on LSE, as reasons for delisting.
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Current cyber brokerage leader for the US and Canada, Meredith Schnur, will succeed Reagan as cyber practice leader, US and Canada.
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Last week, this publication revealed that Howden agreed to pay Guy Carpenter in excess of £50mn ($61mn) to settle the poaching suit related to Massimo Reina and a defecting European team.
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The Inside P&C news team runs you through the earnings results for the day.
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Concern around prior-year loss development and social inflation is impacting the market.
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“As we look to January 1, the market appears to be more orderly than last year, but we expect underwriting discipline to continue,” CEO John Doyle told analysts.
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Adjusted earnings per share increased by 33% and the group also reported margin expansion.
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