Marsh McLennan
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The executive will fill the role previously held by Howden’s Figliozzi. -
Some disagreement remains in where rate declines have been swiftest and how much further they could go.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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The broker said WTW hasn’t shown it was irreparably harmed by the defection.
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Property insurance rates declined by 9%, the same as in the prior quarter.
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Property pricing fell by 8%, while casualty rate increases tapered to 3%.
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Early Q3 earnings reports point to worsening market conditions.
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Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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The selloff may hint at headwinds for equity investors.
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The broker’s new business and client services division is targeting $400mn of savings.
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Earlier this week, the broking house announced a rebrand to Marsh.
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The motion claims the New York court has no jurisdiction in the case.
