Marsh McLennan’s MMA closing in on deal to buy top-100 agency Graham CompanyMarsh McLennan Agency (MMA) is closing in on a deal to acquire circa $75mn-revenue privately-held agency Graham Company, in a deal that would mark the sale of one of the last large independent agencies in the US, The Insurer can reveal.
Ardonagh hires Miller’s Johnson and Wilson from MarshArdonagh has made a pair of senior casualty hires, recruiting Miller’s head of casualty Phil Johnson and Bowring Marsh’s casualty team leader Alex Wilson, The Insurer can reveal.
Marsh names Donnelly president of Marsh Specialty as Clarke exits for WTWMarsh has promoted Pat Donnelly to be the new president of Marsh Specialty and Global Placement, taking over from Lucy Clarke who has been linked with a move to join WTW as president of global broking.
Marsh McLennan ups FY organic growth forecast to high single digitsMarsh McLennan has raised its full-year underlying revenue growth forecast from mid- to high single digits after delivering higher-than-expected organic growth of 11 percent in the second quarter.
Marsh: Global insurance rate increases slow to 3% in Q2 despite property momentumMarsh McLennan CEO John Doyle said the Marsh Global Insurance Market Index was up 3 percent overall in the second quarter, down from 4 percent in Q1 as hardening property momentum was offset by faster softening in financial and professional liability while cyber rates stabilised.
Marsh McLennan beats consensus as underlying growth rises to 11% in Q2Marsh McLennan saw earnings come in above consensus during the second quarter with underlying growth rising to 11 percent.
AGCS marine exits continue as Hammond rejoins MarshDepartures from Allianz Global Corporate & Specialty’s London marine team have continued with senior underwriter Ashley Hammond exiting the carrier to rejoin broker Marsh, The Insurer can reveal.
Victor Insurance Exchange appoints Horgan president and Camerino COOVictor’s start-up insurance exchange has appointed Zurich veteran Paul Horgan as president, and former Everest and Buckle executive James Camerino as chief operating officer and chief claims officer.
Marsh appoints Butler as UK cyber leaderMarsh has appointed Kelly Butler as its UK cyber leader with effect from October, with the executive set to relocate from Melbourne to London for the role.
Victor launches Gallatin Point-backed reciprocal exchange to support Icat businessMarsh-owned Victor is launching a new platform backed by private equity firm Gallatin Point to bring additional property cat capacity to SME commercial risks as well as coastal residential business with products distributed through exclusive MGA Icat’s network of wholesale and retail brokers.
Marsh faces $143mn Greensill lawsuit from US finance group White OakMarsh is being sued for $143mn by US private finance group White Oak, which is alleging the broker failed to pass on information regarding problems with the insurance cover for collapsed supply chain finance firm Greensill Capital.
Marsh McLennan’s Erkan resigns to become governor of Türkiye’s central bankHafize Gaye Erkan has stepped down as a member of Marsh McLennan’s board of directors to take up the role of governor of Türkiye’s central bank.
Marsh promotes McClellan to southeast zone leaderMarsh has appointed Megan McClellan - who has been with the broker since 2012 - as southeast zone leader, overseeing eight offices.
Marsh McLennan Agency acquires Texas-based SOLVMarsh McLennan Agency, the middle market subsidiary of Marsh, has acquired SOLV Risk Solutions, an independent agency based in Austin, Texas that was founded in 2016.
ND panel: Cyber claims spike in recent years has helped carriers improve underwriting analysisExecutives speaking at a NetDiligence event on Wednesday said the increase in cyber claims volume in recent years has helped improve data quality, an evolution that is in turn allowing (re)insurance carriers to better underwrite the risk.
Marsh McLennan Agency promotes Perlman to president of national BIMarsh McLennan Agency has promoted Denise Perlman – who has been with the Marsh subsidiary since 2018 – to president of national business insurance.
Munich Re leads resistance to Marsh wording on Echo facilityMunich Re is leading the pushback against the revised cyber war wordings being introduced by Marsh’s Echo facility, prompting speculation the reinsurer could be set to withdraw its capacity over the disagreement, The Insurer understands.
Marsh marine exits continue with Summers and Walsh resignationsMarsh’s recent run of exits from its marine team has continued with the dual resignation of Tom Summers and Tyler Walsh, The Insurer can reveal.
Marsh’s Bristow: UK trade credit rates to remain muted as insolvencies riseEconomic slowdown in late 2023 and 2024 is likely to cause a further increase in the frequency and severity of UK insolvencies, but increases in trade credit rates will likely only be in the low single digit range as this year progresses, according to Marsh’s Graham Bristow.
Eco-activists target Marsh over EACOP stanceEnvironmental activists from the StopEACOP coalition have warned they will stage coordinated action at Marsh McLennan’s global offices later this morning ahead of the broker’s general assembly over the stance of subsidiary Marsh on the controversial pipeline project.