Marsh McLennan

Areas of focus should include hiring external talent, securing capital for M&A, speeding up US growth, and answering the reinsurance question.

Q2 cat losses reported by most carriers were significantly higher than a year ago owing to the number of US convective storms and likely higher carrier retentions at reinsurance renewals.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Pat Donnelly has succeeded Lucy Clarke at Marsh, and Adam Garrard at WTW has moved into a chairman role.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The Inside P&C news team runs you through the earnings results for the day.

Global property cat rates were up 30% during the quarter.

Global property cat reinsurance posted the most notable risk-adjusted rate increases, spiking about 30% on average, with loss-impacted clients seeing higher pricing.

The results represent a return to double-digit expansion following three quarters of single-digit growth.

It is understood that London-based SVP Andrew Drysdale, who has worked at Marsh for over six years after almost five years at Aon, will relocate to Chile.

Assuming the new role immediately, she will oversee growth, innovation and talent development for Icat and its Boulder Claims subsidiary.

Reinsurers are less worried about their property books compared to last year, and eyeing development of casualty loss costs due to social and macroeconomic inflation.