Construction

Everest exits tightening Florida condo market

The Florida condominium market has become a “micro hard market” so far this year with Everest Re withdrawing from the space completely and retrenchment along with churn of capacity among other carriers and MGAs.

GRP acquires construction specialist Five Insurance

UK broker consolidator Global Risk Partners (GRP) has acquired construction insurance specialist Five Insurance Brokers.

Palomar expands into larger limit builder’s risk with RSG trading agreement

California-based specialty insurer Palomar Holdings has announced a trading agreement with Technical Risk Underwriters, an MGU subsidiary of Ryan Specialty Group that specialises in underwriting products for complex construction projects.

Howden adds Harrison-Sleap to construction team

Broker Howden has recruited Andrew Harrison-Sleap to its growing construction team, with the new hire joining after spending just over a year at McGill and Partners.

Convex continues expansion with arrival of Ratnajothy from Beazley

Convex Insurance has hired Jana Ratnajothy from Beazley as the expansive Stephen Catlin and Paul Brand-led (re)insurer looks to further build out its capabilities in the marketplace, The Insurer has learned.

Zurich NA launches construction weather parametric cover

Zurich North America has launched a construction weather parametric insurance product aimed at project owners and contractors to fill the gap when the risk of construction delays is not covered by traditional builders risk policies.

Howden adds Dade to lead global construction practice

Howden has appointed Naresh Dade as managing director of its global construction practice.

Axa XL’s US construction arm promotes Hall to VP role

Axa XL’s North America construction insurance business has promoted Rose Hall to the newly created role of vice president, head of construction innovation.

Miller adds Cahill to lead expansion into the UK construction market

London broker Miller has appointed former Marsh JLT Specialty construction specialist Dave Cahill to lead its expansion into the UK construction market.

Skyward Specialty brings in Childs to run construction business

Rebranded US carrier Skyward Specialty has continued its recruitment drive as it repositions under new management with the hiring of Rick Childs as senior vice president for construction from CNA.

Marsh hires Aon’s Quinteros to lead LA-based construction practice

Marsh has hired Aon’s long-serving Carlos Quinteros in a newly created role which sees him head up the broker’s Los Angeles Construction Center of Excellence.

Swiss Re CorSo names Baroncini as global head E&C

Swiss Re Corporate Solutions (CorSo) has appointed Manuela Baroncini as global head engineering and construction (E&C).

Aon names Marsh’s O’Donnell as client director

Aon has appointed Karen O’Donnell as a client director within its private finance initiative (PFI) and infrastructure team, a specialist practice that sits within the broker’s construction division.

Alliant adds Truist trio to construction services group

Alliant has hired Dale Harshaw, Rocky Qualin and Geoff Shelton as senior vice presidents in its construction services group, with all three joining from Truist broking companies.

Alliant confirms hire of construction broker Albrecht from Gallagher

Alliant has announced the hire of Frank Albrecht, a broker with a background in construction, environmental, transportation and loss analysis who was one of the producers named in a Gallagher lawsuit against its rival.

Alliant brings in construction wrap-up specialist Pierce from Gallagher

US retail broker Alliant has brought in Steve Pierce from Arthur J Gallagher as executive vice president within its construction services group.

Cowbell targets manufacturing and construction with Prime 250 add-ons

Artificial intelligence-driven cyber insurtech Cowbell Cyber has added endorsements to its recently launched Prime 250 admitted offering aimed at the manufacturing and construction sectors.

US construction umbrella/excess in controlled turmoil: McGriff

The US construction umbrella/excess market “is in a controlled stage of turmoil” with underwriters demanding rate rises of 20 to 40 percent for lead layers and carriers continuing to cut the amount of capacity they are prepared to deploy.

NFP acquires Atlanta-based construction focused MGA ISG

NFP has continued its recent spate of M&A activity with the acquisition of Atlanta, Georgia-based managing general agent Insurance Specialty Group (ISG), The Insurer can reveal.

Pen extends CNA Hardy partnership with construction capacity deal

Gallagher’s UK MGA arm Pen Underwriting has renewed its capacity partnership with CNA Hardy in a deal which will see the specialist insurer provide capacity for up to £50mn ($62.6mn) in premiums for Pen’s construction business.

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