BGCI continues Marsh aviation raid with Heath hireBGC Insurance’s as yet unnamed aviation and aerospace broking start-up has hired Oyin Heath as a senior partner, marking the sixth hire made by the ambitious newcomer this week from existing MMC stock and its alumni.
BGCI confirms Marsh JLT Specialty’s Costin as senior partnerBGC Insurance (BGCI) has confirmed the appointment of former Marsh JLT Specialty’s Mark Costin to its ambitious aviation and aerospace broking start up, as revealed by The Insurer at the start of this week.
BGC Insurance aviation hires transatlantic Marsh trioBGC Insurance’s aviation start-up is understood to have lured four new brokers from existing MMC stock and its alumni as the Marcel Chad co-led firm prepares for launch, The Insurer can reveal.
MMC revenue up 16% in Q2 as Guy Carp faltersIn its first results since the integration of recently acquired Jardine Lloyd Thompson Group (JLT), Marsh & McLennan Companies (MMC) has reported solid consolidated revenue in the second quarter of $4.3bn, an increase of 16 percent compared with the second quarter of 2018.
BGC Insurance lands Marsh UK aviation head Mark CostinBGC Insurance’s ambitious aviation broking start-up is continuing to lure senior executives from the alphabet houses with the latest hire being Mark Costin, the head of Marsh’s UK aviation practice, The Insurer can reveal.
Gallagher wins prestige Indonesian SKK Migas account from rival MarshGallagher’s London-based energy team has trumped rivals Marsh, Aon and Willis for the flagship South East Asian SKK Migas energy account, The Insurer can reveal.
Marsh promotes Hanuschak to Victor North America presidentBrian Hanuschak has been appointed president of North America for Victor Insurance, with he and international president Anthony Stevens now running Marsh’s MGU business following the departure of CEO Christopher Schaper.
Payne resigns from JLT Specialty USA after MMC takeoverDavid Payne, who held the position of chief revenue officer at JLT Specialty USA, has resigned from the firm in the aftermath of its acquisition by MMC, The Insurer can reveal.
Former JLT Specialty USA exec Turk joins expansive NFPFormer JLT Specialty USA executive Doug Turk has re-emerged at NFP as the latest high-profile hire by the expansive private equity-backed retail broker.
Marsh bolsters real estate practice with Hyperion head following defectionsMarsh has hired Hyperion’s Mark Lumley to build out its depleted UK real estate team following the departure of Nigel Todd and Steve Moore to the rival David Howden-led firm earlier this year.
MMC calls on lawmakers to reauthorize US terrorism backstopMarsh property terrorism placement and advisory leader Tarique Nageer has testified on Capitol Hill highlighting the importance of the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), which is due to expire at the end of next year.
Former JLT US aviation executives decline Gallagher moveThree former senior aviation executives at JLT are understood to have declined an offer to join rival broking house Gallagher following the £190mn transfer of JLT’s aerospace business to the Illinois-headquartered firm, The Insurer understands.
Insurtech VC fund Eos and Marsh enhance collaborationStrategic insurtech venture capital fund Eos Venture Partners has announced an enhanced collaboration with Marsh that will leverage the broker’s new Bluestream platform.
Captives writing more third party business: MarshCaptives are increasingly profiting from writing third party risks, according to the latest report on the sector by Marsh.
Ex-Marsh exec Jeremy Cooke partners with SSL founder Sturdy to launch Abu Dhabi ReThe recently retired senior Marsh executive Jeremy Cooke is teaming up with SSL founder Andrew Sturdy to launch the first underwriting platform in Abu Dhabi’s International Financial Centre.
TRIPRA uncertainty is creating additional reinsurance demand: MarshA new report from Marsh has outlined the impact allowing the US terrorism backstop to expire at the end of 2020 would have, and revealed that insurers are already seeking additional reinsurance limits and coverages.
EC approves £190mn JLT Aerospace deal with GallagherThe European Commission has formally approved Gallagher’s £190mn acquisition of JLT’s aerospace division, The Insurer can reveal.
Property and D&O drive global pricing rise: MarshMarsh has revealed its global insurance market index of average commercial prices increased 3 percent in the first quarter 2019, including the US reporting its largest composite price increase since 2013.
MMC sues NFP defectors to enforce non-solicitation and confidentiality agreementsMMC has sued NFP and four former JLT Specialty USA employees over the defection of real estate and property teams from the newly acquired broker.
Marsh’s South: “We will fight” to keep every clientMarsh’s US executives have acknowledged that more departures will come in the aftermath of the JLT acquisition, but report that clients have been supportive.