Marsh McLennan
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While not record-setting, 2023 was a “solid year” for insurance brokerage M&A, and there is “tempered” optimism for 2024. -
European rates on line increased by 7.60%, while in the US prices were up 5.25%.
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Andy Stirk comes to Marsh from Ascot Group but had previously been MD in Marsh’s financial and professional liability practice.
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Reinsurers are looking to grow in top-layer cat risk, resulting in “variable” outcomes on sign-downs.
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She joins Marsh following a 20-year career at Aon.
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Amynta Ease-of-Business 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.
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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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