Newfront hires Marsh central zone sales leader Wagner as US growth leaderRapidly-scaling insurtech retailer Newfront has hired Marsh’s central zone sales leader Cole Wagner as its new US growth leader, marking the latest prominent recruit the San Francisco firm has enlisted in recent months, The Insurer can reveal.
Marsh: Global insurance pricing up 4% in Q4 as property increases accelerateThe pace of global commercial insurance rate rises slowed for the eighth consecutive quarter in Q4 2022 with an increase of 4 percent, down from 6 percent in the previous quarter, but property increases accelerated from 6 percent to 7 percent, according to pricing index data from Marsh.
Marsh McLennan takes $233mn restructuring charge as it looks to accelerate collaborationMarsh McLennan took a $233mn fourth quarter restructuring charge as it looks to reduce complexity in its operating model and “organise for impact” as part of a broader push to accelerate collaboration across its Marsh, Guy Carpenter, Oliver Wyman and Mercer units where the firm believes it “makes sense”.
Marsh McLennan in narrow Q4 earnings beat as underlying growth slows to 7%Marsh McLennan reported adjusted earnings per share of $1.47 for the fourth quarter of 2022, marginally ahead of analysts’ consensus, with the broking group generating underlying growth of 7 percent for the final three months of the year.
Newfront hires Marsh Chicago office head Cook, casualty execs Pratscher and EppsFast-growing insurtech brokerage house Newfront has recruited a trio of prominent casualty executives from Marsh including Wendy Cook as head of insurance placement, Frannie Epps as head of casualty, and Lauren Pratscher as head of casualty placement, The Insurer can reveal.
Marsh McLennan Ready for scrutiny on new Doyle strategy…Marsh McLennan is set for its first quarterly earnings call in the post-Glaser era on Thursday and beyond the topics du jour around organic growth, macro and market conditions, new CEO John Doyle can expect some probing from analysts on any changes to the firm’s strategy under his stewardship.
Former NFLer Floyd sues Sompo International, Doctors, Marsh and USIUnits of Sompo International and The Doctors Company along with brokers Marsh and USI are being sued by former NFL player Sharrif Floyd over what the former top-ranked defensive lineman believes is a $10mn shortfall in a professional liability insurance payout.
Marsh promotes Ozden to lead European specialty in regional leadership revampMarsh has promoted Nilay Ozden to leader of Marsh Specialty, Europe, with Cristian Fugaciu and Artur Grzeskowiak both promoted to co-CEOs for Central & Eastern Europe (CEE).
Marsh Specialty names Perry as credit specialties UK CEOMarsh has promoted Robert Perry to UK CEO for credit specialities within Marsh Specialty.
Aon WTW: no hard feelings in Spain as they rival MarshGlobal brokers Aon and WTW have buried the hatchet regarding their ill-fated 2020-21 merger - in Spain at least.
Marsh: Embracing net zero will bring business opportunities over next decadeEmbracing the net-zero transition will become a differentiating leadership factor over the next decade, according to broker Marsh.
WTW aviation looks to Piiq duo as it wins Embraer accountWTW is continuing to bolster its European aviation practice as it targets new hires from Ardonagh’s Piiq and wins the aerospace manufacturing account Embraer following a tender process, The Insurer can reveal.
Dan Glaser joins private equity firm CD&R as operating partnerFormer Marsh McLennan president and CEO Dan Glaser has joined private equity firm Clayton, Dubilier, & Rice (CD&R) as an operating partner, where he will be tasked with sourcing new investments and supporting portfolio company management teams on executing value creation plans.
WTW wins aerospace account Bombardier from MarshWTW has replaced Marsh as the lead broker on the Bombardier aerospace account following an RFP, The Insurer can reveal.
QBE hires Julie Wood from Marsh as new global distribution headQBE has hired veteran casualty broker and underwriter – and most recently Marsh’s southeast zone leader – Julie Wood to be its new global head of distribution, The Insurer can reveal.
Marsh US excess casualty leader Paulson joining Ascot as NA CUOJesse Paulson, Marsh’s excess casualty practice leader in the US, has resigned from his position with the broker and is set to take up a new position as chief underwriting officer for North America at Ascot, The Insurer can reveal.
MMA acquires 120-employee agency HMSMarsh McLennan Agency, the middle market subsidiary of broking giant Marsh, has acquired Hunt Valley, Maryland-based HMS Insurance Associates, an independent agency with more than 120 employees.
Marsh makes six MD appointments across LatAm and CaribbeanMarsh has appointed six new managing directors in its Latin America and Caribbean-focused business with the new promotions handed to staff overseeing both business units in specific countries and across the region.
Marsh promotes French to global coverage and placement roleMarsh has appointed Siân French as global head of coverage for global placement.
Marsh Captive Solutions names Ireland, Asia Pacific and international leadersMarsh has promoted Lorraine Stack to leader of Marsh Captive Solutions’ operations in Ireland, succeeding Brian McDonagh who is set to retire following 27 years at the firm.