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.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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WTW claims at least two $1mn accounts were also unfairly lost to Howden.
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Sources said Marsh Specialty UK growth leader Lizzy Howe will lead the operation.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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The $20bn+ TIV data center is seen as the leading edge of significant new demand.
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A federal judge restricted former Marsh employees from soliciting for Howden.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The broker has filed a motion to dismiss the lawsuit by Marsh.
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The company said defendant "distraction" can’t make up for flimsy arguments.
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After spending 20 years at Aon, Goodman will start a senior executive position with Guy Carpenter.
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The lawsuit is the third filed by MMA against Alliant in the past year.
