WTW

Peru’s state-owned firm Petroperu has said that the broker designated to run its account was chosen as a result of a “technical evaluation”, following local media and Inside P&C reports that WTW had won with the highest bid in the process.

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It is understood that the two other bidders in the process were AJ Gallagher with a fee of $885,000 and Lockton with $700,000.

Mayers' role will focus on the ICT unit's commercial lines pricing and underwriting propositions.

Before his appointment, the executive served multiple senior leadership roles within the division across Germany and Northern and Central Europe.

The brokers expect to reach an out-of-court agreement to end the poaching case in south Florida within two weeks.

Brokers may face pressure as the pricing cycle turns and estimates fail to keep up.

The complaint names surety executives John Thomas, Andrew Bennett and Jennifer Boyers Gullett as defendants.

Insurers have expressed concerns about hitting the 2023 deadline for the regime.

The executive will report to Tom Coughlin, WTW’s head of industry and specialty for CRB North America.

Q1 marked a deceleration from the last quarter of 2021, when commercial lines rates increased around 7% from the same period of 2020.