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WTW sold Willis Re to Gallagher in 2021 for $3.5bn. -
Newcomers enter on the belief that they have a “better mousetrap”, said Donato Monaco.
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He joins from Swiss Re, where he has spent the last 27 years of his career.
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The executive is currently Asia Pacific CEO.
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The sale of the business was confirmed in June.
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The AIG and Stone Point-owned MGU will also look to move up-market, increase its weighting to E&S and add third-party paper.
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The appointment will be effective January 1.
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The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.
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A quick roundup of today’s need-to-know news, including PCS, AM Best outlooks, stamping office data and more.
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The group posted a 15.1% gain for October and 27.4% for September.
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Elevated casualty and high property claims are concerns, however.
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Castel founder Mark Birrell will take the role of executive chairman.
