Guy Carpenter: Property renewals at lower end of expected increasesReinsurance broker Guy Carpenter has added to the emerging consensus that property pricing generally settled at the lower end of expected increases at 1 January, with ample capacity available from incumbents and new entrants.
MMC pays tribute to former CEO Frank TascoMarsh & McLennan (MMC) has paid tribute to former chairman and CEO and “legend in the industry” Frank Tasco, who recently passed away.
CCR Re hires Guy Carp’s Adams to head up French treaty underwritingCCR Re has brought in Elizabeth Adams from Guy Carpenter to lead its treaty underwriting operations in France.
Guy Carp LatAm hire Phillips hits back at Willis Re in injunction fightFormer Willis Re Latin America and Caribbean chairman Anthony Phillips, who resigned last month to join Guy Carpenter, has hit back at his former employer’s attempt to dismiss his lawsuit seeking to invalidate his non-solicitation clause, while revealing details of the brokerage fees at stake from his biggest clients.
Hiscox working with GC on ~$650mn Lloyd’s legacy transactionLondon-listed Hiscox has appointed Guy Carpenter to market a portfolio of back year liabilities written through its Lloyd’s platform with reserves of approximately $650mn, The Insurer can reveal.
GC names Keslowitz as head of US life reinsuranceGuy Carpenter has appointed Benjamin Keslowitz as US life leader with immediate effect.
Guy Carpenter names Gen Re’s Toffanello head of JapanGuy Carpenter has announced the appointment of former Gen Re executive Pietro Toffanello as head of Japan.
QBE returns to the legacy market with $400mn+ dual US back-year dealsQBE is re-testing the legacy market’s appetite for a circa $300mn portfolio of US back-year liabilities after an initial process announced early in the second quarter did not conclude with a buyer, The Insurer can reveal.
Guy Carp’s new LatAm hire Phillips denied TRO against Willis ReFormer Willis Re Latin America and Caribbean chairman Anthony Phillips – one of a more than 20 strong team that resigned to join Guy Carpenter – has been denied a temporary restraining order (TRO) against his former employer as he seeks to invalidate his non-solicitation clause.
GC coup as Willis Re LatAm defections become first major move following Aon takeover newsThe news today that a 20+ strong team is defecting from Willis Re’s Latin American arm to Guy Carpenter marks the first major move from the former’s reinsurance arm to a rival following Aon’s agreed takeover of parent company Willis Towers Watson (WTW).
Willis Re’s LatAm and Caribbean team hit by 20+ Guy Carp-bound exitsA group of more than 20 Latin America and Caribbean-focused Willis Re executives, including regional chairman Anthony Phillips, have handed in their notices and are set to join rival Guy Carpenter, The Insurer can reveal.
GC launches new marine and energy practice; hires Demian SmithGuy Carpenter has launched a new marine and energy mutual, agency and captive reinsurance solutions practice, while appointing former StarStone CEO Demian Smith to head up the division.
Aon 13% organic reinsurance growth outpaces rivals in Q3Aon’s strong reinsurance performance in Q3 means the broking giant has now delivered reinsurance organic growth of 9 percent or higher in seven of the last eight quarters.
Willis Re and Guy Carpenter continue reinsurance broking growth momentumOrganic growth momentum continued at the two big three reinsurance brokers to report Q3 earnings so far, with Willis Re’s 7 percent organic growth marginally outpacing the underlying growth delivered by its larger rival Guy Carpenter during the period.
MMC now expects flat organic growth for 2020 with RIS expansion as outlook improvesMarsh & McLennan Companies (MMC) has updated full-year forecasts for organic growth to flat overall including growth in Risk and Insurance Services (RIS), as CEO Dan Glaser said the firm’s outlook has improved after “excellent” third-quarter performance.
MMC organic revenue down 1% in Q3 as GC flat; Marsh up 3%Marsh & McLennan Companies (MMC) delivered 1 percent organic contraction in the third quarter, echoing the result posted by Willis Towers Watson earlier this morning, with organic growth at Marsh largely offset by a flat result from Guy Carpenter and a reduction in its consulting arm.
TVCyber underwriters avoid Covid exclusions even as ransomware concerns soarAt this time we have seen no evidence that insurers or reinsurers have added Covid-19 exclusions to Cyber policies, although they are asking clients more questions about business resilience and continuity planning relating to the pandemic amid an “enormous” rise in ransomware attacks, Guy Carpenter’s Siobhan O’Brien has told The Insurer.
The changing nature of riskGuy Carpenter’s North America CEO, John Trace, regards the impact of black swan events, the necessity of product innovation, the ramifications of Covid-19 and the opportunites available for the industry to seize…
TVCasualty upheaval places profitability in the spotlight at renewal: Guy Carpenter’s RossChanging dynamics in the casualty markets are causing reinsurers to place more scrutiny on portfolio profitability, according to Guy Carpenter managing director Chris Ross.
Guy Carpenter appoints Hartshorn chief HR officerMelissa Hartshorn has been appointed chief human resources officer at reinsurance broker Guy Carpenter.