Operations/tech

The team will offer strategic consulting and technology solutions, starting with clients in property, casualty, life and reinsurance.

The sale is part of the firm’s strategy to improve its capital structure and optimize operating expenses.

Sources said that Gallagher is in the process of obtaining both retail and reinsurance licenses in the South American country.

The bi-annual study produced by Aon’s Ward and The Jacobson Group found it's harder to hire than at an all-time high for the industry.

Names such as Next Insurance, Policygenius and Root have all announced layoffs to rein in expenses in worsening economic conditions.

Next is the latest InsurTech to reduce its staff in what has become a widespread phenomenon within the space.

The Aon president also dismissed the idea Aon is a “great stock, not a great company” and said brokers are not in control of the pricing cycle.

The news comes as the steep correction that public tech valuations have suffered year-to-date spills over into the private InsurTech market, and private VC funding dries-up.

The memo notes if an employee under Chubb's medical plan needs a procedure that must be performed more than 100 miles from their home, the carrier will cover it.

Current CEO Bradley will receive 78,760 shares of restricted stock over a 12-month period, as well as 135,000 stock appreciation rights with an exercise price of $43.80.

KPMG has been appointed to succeed its Big Four rival as the up-for-sale Bermudian tries to turn the page on its delayed annual filings.

Policygenius laid off staff just two months after doubling its total funding to $250mn in a Series E round.