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Challenges in claims frequency and carrier competition are likely to remain. -
The anticipated portion ceded to reinsurance may reach the mid-to-high single-digit billions, it added.
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A state-mandated, one-year moratorium on non-renewals is also in place.
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Also, John Diaz will lead a customer and distribution management function.
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A $30bn industry loss would use one-third of Big Four’s 2025 cat budgets.
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The Willis name, which dates back to 1828, will be used with clients and markets.
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Robin Hamilton has been appointed head of energy and marine liability.
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Sources said that the new paper is replacing PartnerRe capacity that was backing the MGA.
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The company will now focus on growing its E&S and InsurSec offerings.
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‘Emotionally driven’ claims by non-profits underscore their unique D&O exposures, according to Travelers' Nicole Murphy.
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Piyush Patel and Sandra Russo have joined Dellwood as head of programs and AVP, respectively.
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Rates are now falling, but submissions are still rising, according to wholesale brokers.
