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The broker will take a charge of $1.6bn-$2.1bn relating to the sale.
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The smart-follow unit was launched as part of Howden’s HX in 2020.
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The broker has also worked in underwriting roles at XL Re and TransRe.
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The transaction will be one of the largest involving two strategics in broking history.
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The executive joined the firm through its acquisition of RFIB.
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The executive also worked at JLT Re as head of LatAm and Caribbean analytics.
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Glyn Thoms will be stepping into a newly formed role with a focus on cyber strategy formulation and management.
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The Big Four warned of an uncertain, complex outlook for 2025 and the 1 January renewals.
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The choice to build a reinsurance unit at arm’s length alleviates some financial strain.
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The two parties are targeting a launch by the end of the year, with scope for WTW to buy the start-up at maturity.
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Renewals will depend on clients’ ability to differentiate themselves from broad-brush trends.
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This publication reported Melvin’s hire on Wednesday.