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The only major product line to see rate increases was casualty. -
Alongside Chatterjee, SVP Dharma-Wardana has also exited the team.
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It is understood that Marsh brokered the tower, which is exposed to claims from a 2024 breach.
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Despite a softening market, carriers still have belief in their profitability, sources said.
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The Gallagher Re executive called on the market to “prepare to grow sustainably together”.
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The facility now includes CyXS Plus and CyXS Company.
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James Barrett has been interim head of cyber since October 2024.
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Sources said extending coverage to Gen AI may be difficult and unnecessary.
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The combined ratio improved by 3.2 points, from 80.9% in 2023 to 77.7% in 2024.
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Ethan Godlieb will be leading cyber, tech and fintech for the broker.
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Reinsurance and property remained the primary drivers of premium growth.
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Cyber, marine and aviation are recent areas of focus.
