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The executive brings more than three decades of experience to the role.
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The market has advanced in sophistication but must tackle talent, tax and diversification issues.
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The 100% equity award will vest in full after five years.
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Avoiding an antitrust fight aids execution, but creates uncomfortable optics around the multiple paid.
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The Insurance Insider US news team runs you through the past week’s key M&A deals.
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The company reported 25.5% increase in GWP, down from the 40% growth in prior years.
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This was offset by a $108mn reserve charge for years 2021 and prior.
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The carrier has completed its 2024-25 reinsurance renewal.
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The carrier is also targeting E&S growth in property brokerage and global specialty.
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The broker’s opening price on Friday was $272.10 per share, versus Thursday’s closing price of $306.
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Aon’s CEO said the business was formerly “very underweight” in the middle market.
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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 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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Focus on reserves to continue as gap between cautious reservists and others emerges.
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Global commercial insurance rates rose 1% in Q1, down from a 2% increase in Q4 2023.
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The broker used a consensus-based hypothetical cat event type to analyse its global impact.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The transaction value represents approximately 5.9x of its 2023 revenue and 28x net income.
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Existing non-competes for senior executives can remain in force, however.
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Earlier today, the carrier reported that its Q1 combined ratio came in at 88.8%, down from last Q1’s 90.6%.
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Farmers is working with Jetty to help ensure a smooth transition.
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The casualty segment posted $18mn of favorable reserve development across multiple accident years.
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Commercial lines will remain bifurcated, with strong growth in property and weak growth in liability.
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Reinsurers will try to put pressure on insurers for casualty and liability lines, as they did in property.
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The city alleges defendants knowingly allowed an “unseaworthy” Dali to set sail.
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Cat rates meanwhile are seeing downward pressure from 'pricing fatigue’ and limit expansion.
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Downward trends of DCC ratios are beginning to reverse, which could cause issues for long-tailed lines.
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Kirsten Valder has been with Arch for 10 years and before then was a partner at Kennedys Law.
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The Insurance Insider US news team runs you through the earnings results for the day.