Property
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The company added a new property quota share treaty at June 1, which reduced net written premiums in the quarter by $122mn.
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On a recent Marsh podcast, the executives discussed tradeoffs between parametric and traditional coverage in covering catastrophe risk.
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Bret Ahnell, executive vice president, has been named chief operating officer and will run insurance operations globally.
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The heavyweight insurer and the world's largest broker have been at the forefront of stalled efforts to create a PPP in the US.
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Lawson will step down in January after six years at the helm of the property insurer, with long-time FM veteran Malcolm Roberts taking over.
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Maritzen was previously head of risk management, property, at AIG, having joined the insurance giant in 2019 from Sompo International.
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The state’s insurance commissioner accuses the carrier of breaking state laws for non-renewal of policies in wake of Hurricane Delta claims.
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The fairly late notification and the size of the claim have prompted some to question whether further substantial Uri claims could be in the pipeline.
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Honeycomb’s CEO Itai Ben-Zaken said convincing partners, including its investors and reinsurers, was the key to its launch.
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Outside the US, two Indian cyclones are expected to have caused more than $4.5bn of economic losses.
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Marsh has seen 100 captive formations as hard market fuels growth.
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The intermediary also warned that inflation headwinds could affect the future cost of claims.
