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The broker grew by 35% in 2023 and is looking to reach gross written premiums of $1.4bn by 2026.
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The incoming executive previously spent 17 years at AIG, most recently as head of financial lines for MENA.
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In the second part of our themes for 2024 outlook, we explore how fear of missing out in cat reinsurance is still contrasting with an upstreaming of risk that is creating fallout for primary insurers, while momentum in facilitisation and ESG continues.
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In the first section of our two-part outlook for 2024, we explore why macro-economic concerns are taking a step back, though casualty pricing micro-cycles highlight ongoing caution.
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The broker said over-placement on some deals was a positive sign for brokers, though reinsurance capacity is still very tight in some areas.
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The CEO also disclosed that the break fee on the takeover is $250mn.
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The Hartford, Canopius, Newline, QBE, CNA Hardy, Travelers, Hamilton and Volante are participating in the facility.
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It is understood that AUB’s investment in Mexbrit includes the broker’s marine-focused MGA subsidiary Forte Underwriters.
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The executive joined Gallagher in 2015 as COO of its international division.
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All existing carriers on the panel renewed in 2024, with QBE remaining leader.
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The broker is hiring in energy following the departure of several downstream brokers for Price Forbes.
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Business lines offered include P&C, marine, construction, cyber, trade credit, financial lines, and energy plus employee benefits services.