Marine
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He will be responsible for oversight of all aspects of the practice and leading the firm's growth in the market. -
The consortium is supported by 11 other Lloyd’s businesses.
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Effective August 24, Kristen Hunter will start as head of inland marine – North America at Axis, bringing a team of three with her from Berkshire Hathaway.
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Romeo will be responsible for building out the US cargo program and charting a course for growth ahead of its launch later this year.
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Before joining AIG, the executive had served as chief underwriting officer of marine at The Hartford.
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In addition to his new role, the executive will retain his current position as head of marine for the Australasia region.
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The underwriter has worked at Swiss Re, Ironshore and Alize during his insurance career.
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The broker said increased reinsurance costs had not been passed onto customers.
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Recently released statutory data shows the US P&C industry loss ratio touching the 65% mark, the highest level in two decades.
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Strong results reflect tailwinds in the E&S space, but social inflation will be a trend to watch.
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The Fidelis IPO has no clear precedent, but there is an appetite for investment in the specialty space, as seen earlier this year with the Skyward public listing.
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This new coverage will be underwritten by Falvey’s recently appointed inland marine underwriting team announced in late February.
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