Guy Carpenter
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“They want to grow their portfolios,” Guy Carpenter's CEO added.
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The change comes as negotiations start to kick off for 2025 renewals.
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Sources said Guy Carpenter has promoted Jennifer Paretchan to succeed Mowery.
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The broker said less than 1% of companies globally with cyber insurance were impacted.
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The rise is equal to 5%-10% of catastrophe capacity purchased, including cat bonds, depending on region.
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The executive joins recent appointees Bronek Masojada and Emmanuel Clarke.
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The broker warned that D&O and P&C policies could also be impacted by the outage.
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The US property catastrophe broker is esteemed among peers.
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The flattish outcome comes after a larger year-on-year hike in January.
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She said potential hurricane activity was just one factor impacting the 2025 outlook.
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Michael Sevi served as general counsel and chief compliance officer at Guy Carpenter.
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Carter said technology is creating more of an imperative to diversify the future insurance workforce.
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Excess capacity rebounded in June 2023 after hitting a decade-low just 12 months earlier.
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The broker was part of a mass resignation from Guy Carpenter last year.
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Richard Chu joins from PartnerRe, where he was head of financial risks for Asia Pacific.
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Ben Savill replaces Jeff Saper, who is moving into a fac role.
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The challenger broker is continuing to build out its presence on the island.
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The executive joins the company as it looks to bolster its reinsurance capabilities.
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Effective immediately, Wolfe will help drive growth strategies across the region. He will also lead Guy Carpenter’s US facultative business alongside Frank Guerriero, chairman of Guy Carpenter Facultative.
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European rates on line increased by 7.60%, while in the US prices were up 5.25%.
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Reinsurers are looking to grow in top-layer cat risk, resulting in “variable” outcomes on sign-downs.
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Ollie Spells joins from Guy Carpenter, where he was a senior producer in the broker’s UK facultative property team.
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A more consistent trading rhythm returned to the property market, with capacity deployment outside of frequency-exposed layers and more heavily loss-impacted segments bouncing back.
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The brokers will work in the contingency team headed up by Ian Tomlin.
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