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A quick roundup of this week’s biggest stories.
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The broker announced yesterday it had completed its $13bn acquisition of NFP.
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Gallagher expects "little impact" from the FTC’s non-compete ban on the firm’s M&A strategy.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Aon will provide further updates on NFP and deal financials, on its earnings call tomorrow.
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The company is understood to be working with Ardea Partners.
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The executive had opened the Aon Property Symposium in January.
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The practice aligns existing capabilities from Marsh Specialty and others.
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The executive said expansion was driven by retention and new business.
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The US large property team will support middle-market and corporate clients.
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The carrier will reassess the market in the fourth quarter, or early in 2025.
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Concern about vague cat modeling language was a theme at a Tuesday workshop.
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Executives are seeing 5%-15% rate declines on intense competition but in excess layers pricing is down as much as 40%.
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CEO Carl Hess hailed a “solid” first quarter of results.
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Despite a smaller number of claims, ransomware payments hit all-time highs last year.
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It is understood that the company needs to secure cash within less than 30 days.
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In her new position, the executive will report to UIB LatAm CEO Carlos Gutierrez.
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The hire comes after the company’s recent rebrand from Capitola Insurance.
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There is a high likelihood the property claim will be subrogated.
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The executive will focus on food and beverage manufacturers and distributors.
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The CEO said Q1 was “one of the best quarters” for casualty pricing.
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He was most recently global COO of reinsurance at AIG.
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The financing was oversubscribed, with strong demand from new and existing lenders.
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Global commercial insurance rates rose 1% in Q1, down from a 2% increase in Q4 2023.
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