UK and Europe
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In its first six weeks, Taurus has brokered more than £100mn of UK real estate.
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The backing represents a rare move from a collateralized reinsurer to take on risk in the legacy space.
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The incidental syndicate will also house Liddell’s A&H team and Carr’s marine liability team.
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The underwriter had worked for Syndicate 1200 since 2011.
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The former Everest executive will look to roll out a range of new product lines at the heavyweight MGA.
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Curtin has spent almost 50 years in the market with stints at Marsh and Sedgwick.
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This publication revealed the appointment in November last year.
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Underestimated average claim value has led to a dramatic February update.
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The company is still working to get debt holder approval for the Accredited deal.
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The marine hull market is looking to retain rating robustness in 2024.
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Tim Bluck joins as a partner, covering UK clients.
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The Livingbridge-backed broker may return to market in 2025.
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Jack Broadbent left WTW to join CFC in June 2023.
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The book is yet another indication of growing interest in the space.
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Alex Coulton previously held the role of construction underwriter at Axis Capital.
-
Getty was appointed to the role in December of last year, having joined Talbot as cyber and technology class underwriter in 2017.
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Insurance Insider understands David Walsh told employees in a memo that “certain culture failings” were identified in an investigation which had gone on “for some time”.
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The class underwriter has spent more than two decades with Brit.
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The exercise is understood to involve mainly junior and non-broking staff.
-
Insurance Insider revealed yesterday that the two firms were in advanced talks over a potential transaction.
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Syndicate 1856 is looking to back diversified coverholders for the project.
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The resignation follows the appointment of Sedgewick's Julie Ross to lead the team.
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The utility previously bought a $1bn policy from the (re)insurance market.
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The treaty specialist has also worked at QBE Re, Aspen and Swiss Re.
-
The former Vibe CEO has also worked for Axis Capital and Ace.
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City of London grandee Martin Gilbert is attached to the project in a non-executive capacity, sources said.
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The underwriter had worked for Axis and predecessor Novae for 17 years.
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Loss activity is escalating in the class of business, leading underwriters to question rate softening.
-
The launch will allow the Lloyd’s market to access a greater proportion of Acrisure’s $32bn managed premium.
-
A leaked document also details the rationale for the planned combination of syndicates 510 and 557.
-
Chaucer’s global head of marine Philip Graham also chairs the influential facts and figures committee of the International Union of Marine Insurance.
-
Mitsui, Tokio and Sompo are to split the loss, which will be absorbed by retentions and property XoL treaties.
-
Non-life reinsurance director Joachim Racz is to replace the executive.
-
The private equity firm took the intermediary private in a deal struck in 2018.
-
As part of the changes, North America CEO Dan Linton – who operates out of Bermuda – is to leave the company, while around half a dozen employees will be made redundant.
-
WRB’s head of political lines Sundeep Daddar and PV underwriter Luke Bennett are to leave the company as a result of the exit.
-
The appointment of Will Jones comes during a time of change for the WTW terrorism and political violence team.
-
Jefferies has been awarded the mandate to seek a buyer for the segment.
-
The move comes as the London market continues to suffer from a lack of cyber capacity.
-
The ECI-backed business will likely be marketed on a ~£15mn Ebitda figure.
-
Amid Ukraine uncertainty, there is extreme wariness among reinsurers to provide PV and terrorism cover as part of bundled specialty treaties.
-
The senior broker has worked at Guy Carpenter for more than 25 years and specialises in life, A&H and crisis management.
-
The independent broker has an end to its long search for a new owner in sight.
-
The MGA will not trade for the foreseeable future after Munich Re and Ascot decided to pull its paper.
-
NDAs have been sent out to global insurance groups and heavyweight PE firms, it is understood.
-
Lisa Leahy will be reunited with former colleague and TMK’s divisional head of aviation, James Walker, in her new role.
-
The marine underwriter first joined the carrier in 2020 after leaving long-standing employer Atrium.
-
Nigel Cooper most recently held the position of senior construction underwriter, global construction at Travelers.
-
The major UK insurance group has been exploring a launch since last year.
-
The broker has distributed top jobs among former Willis Re and legacy Gallagher Re staff.
-
The recruit is the latest WTW alumnus to join the DIFC-based fac and specialty operation.
-
It was first announced in October 2021 that IQUW and Agora would be merging their property teams, with Agora’s insurance and reinsurance businesses transitioning to IQUW.
-
The appointment of Sam Joscelyne-Manning follows WTW’s recent hiring of Aon’s Teddie Bailey, who is also joining the broker’s terrorism and political violence team.
-
As the carrier looks to provide liquidity to its PE backers, it is examining a range of paths to reshuffle the investor base.
-
The US retailer looks set to secure the UK consolidator after fending off private equity house TA Associates.
-
The withdrawal of the major lead market will substantially reduce available capacity at 1 April renewals.
-
The acquisition of Willis Re last year transformed Gallagher into a top-three reinsurance player.
-
The senior underwriting figure will lead one of the bigger aviation portfolios in the London market.
-
The UK segment reported an operating loss of £37mn in 2020 and could present a consolidation opportunity for major GI players.
-
The liability chief started her career with Endeavour in 2009.
-
The former Dual CEO will run a unit in the same stable as the private equity firm’s broker, Oneglobal.
-
McCoy’s appointment follows the news that ERS-owned IQUW is venturing into recall with a crisis management product led by Talbot’s Jon Atkinson.
-
Giles Ham will join AJ Gallagher in Q1 2022, working in the broker’s specialty construction practise.
-
Sources said the syndicate had absorbed heavy losses in 2020 and was also facing capital charges to support cat-exposed business.
-
BMS has also walked away from a deal after a brief rekindling of negotiations.
-
It has been suggested that a Lloyd’s syndicate could provide a neat solution to the licensing needs of its growing specialty business.
-
The executive has headed Marsh McLennan’s reinsurance broker since joining from Willis Re in 2015.
-
The Corporation said it will consider using digital platforms as it evolves its thinking on the future of the Lloyd’s underwriting room.
-
The aviation veteran worked for Axa XL for almost two decades.
-
Based in London, Graham Bristow, Barrie Watson and Ian Leslie all held senior roles at Aon's credit solutions.
-
Johnny Shannon will work alongside MS Amlin colleague Scott Heeley to build a book of cargo business.
-
The body’s remit will include governance of the core data record – a crucial element of the Blueprint Two reforms at Lloyd’s.
-
Dasan's resignation comes within a period of significant moves across the construction market.
-
OPEnergy will be the second MGA to launch on the platform this year, after Navium Marine was founded in April.
-
Willis Towers Watson’s regional leader for Middle East and Africa (MEA) downstream natural resources William Peilow has resigned, Insurance Insider can reveal, as an exodus from the broker’s fac division continues.
-
The carrier has seen an exodus of financial lines staff amid a battle for top talent in the line of business.
-
The valuation represents a sector-leading multiple of in excess of 40x Ebitda.
-
The broker places energy business across upstream, downstream and renewables with a team led by Tim Fillingham.
-
Willis Towers Watson has won three new airline clients from Marsh, Insurance Insider can reveal, marking a string of victories for the broker’s global aerospace unit after a period of uncertainty.
-
Steve Manwaring has resigned as manager of the carrier’s European surety operations and has been replaced Tom Johnson, who has been promoted to UK surety manager.
-
The UK consolidator had been expected to be auctioned, but that process now looks set to be pre-empted.
-
The carrier said the portfolios ‘no longer support’ its core strategy.
-
The decision marks a further withdrawal of delegated authority capacity, particularly for US property, from London carriers.
-
The pair are the latest to exit the facultative department at Willis after a stream of senior departures.
-
The Bermudian carrier acquired the Middle Eastern agency in 2019 as part of its purchase of Ironshore.
-
The carrier said the move is part of its plan to simply group reinsurance operations.
-
The new hire is to take a role in Miller’s South African fac business.
-
The AIG-owned business has seen a major transformation in its senior leadership.
-
COO Nate Mathis will become interim CEO of the firm's London wholesale broking operations.
-
The London-based managing director is the latest in a stream of departures from the broker’s facultative division.
-
Major increase in incentive pool represents an early step from management to shore up its staff base.
-
The investment bank said a transaction would stabilise employee retention at Willis Re and allow Willis to pursue buybacks.
-
Further resignations were expected after vesting of compensation incentives, following a number of departures from the firm in the past year.
-
Any transaction would be predicated on a major reorganisation of the acquisition target, slowing deal progress.
-
Details of potential additional divestitures are closely guarded, but they would likely include P&C broking assets.
-
The consortium, understood to have a limit of $30mn, is targeting mid-market business.
-
The executive stood down from leading Sompo International’s reinsurance business last year.
-
A departure in the spring now seems likely, with Hiscox Global Retail CEO Walter and CFO Hussain internal candidates for the top job.
-
Ex-Dual CEO Doyle has teamed up with former Willis Re Specialty COO in a bid to launch a hybrid underwriting vehicle.
-
The fairly late notification and the size of the claim have prompted some to question whether further substantial Uri claims could be in the pipeline.
-
Sources said Cinven-Tysers talks are focused on valuing the contingency business and issues around cultural fit.
-
The Willis veteran becomes the latest fac executive to depart, following the recent exits of Alf Garner and Antonio Tosti.
-
The appointment follows the departure of Richard Spencer to marine war MGA Vessel Protect.
-
Howse most recently spent four years as an oversight manager at Lloyd’s.
-
Managing director Andrew Walsh is set to take the helm of the wholesale operation.
-
Personnel displacement is high in the cargo sector following several years of rating correction.
-
Brokers were informed on the final working day before the 1 June renewal that the MGA would not be able to honour renewal quotes for cyber clients.
-
The account move follows Airbus decision to switch to the independent broker earlier this week.
-
The underwriting executive will oversee lines including cyber, D&O and casualty.
-
The SIAB has abandoned the project, with no other syndicates currently involved.
-
The resignation comes amid an uptick of competition in the class after four years of positive rate development.
-
The broking executive, who is a major producer in construction, is most likely to resurface at Corant Global, sources said.
-
An exit would carry a multi-hundred-million price tag.
-
The platform plans to launch an Abu Dhabi operation, as well as a London marine MGA.
-
The recruitment comes amid expansion on the wider MGA platform.
-
Lancashire’s upstream income was broadly stable in 2020 as the carrier registered modest rate increases.
-
The deal could be signed later this week or at the weekend, sources said.
-
CEO Talbir Bains founded the business in 2017 with backing from the market’s largest ILS manager.
-
Beazley is one of the leading players in property D&F business in London, writing a global book with a US focus.
-
The US regulator has proposed Willis sells its San Francisco and Houston CRB businesses, and its Bermudian insurance broking arm.
-
The largest of the businesses, Gras Savoye, has been seen as one of the jewels in the crown at Willis.
-
Around 15 producing brokers are on the move, with a number from the non-marine specialties team.
-
The service firm is jointly owned by a consortium comprising Paraline International, Skuld and investment firm ACHP plc.
-
The pre-eminent reinsurance event is cancelled for the second year running over Covid-19 concerns.
-
Founders Philippe Gouraud and Yoel Brightman bring on board their former colleague.
-
The vast Japanese quake programme is to expand for the fifth year running.
-
The broker adds a mandate worth $10mn in premium after its Bristow Helicopter win.
-
The recruit spent almost a decade at Willis Towers Watson.
-
The new launch will be managed under an Apollo turnkey, and looks set to take on run-off liabilities from the Lloyd’s carrier.
-
The former Liberty Mutual executive is mulling different routes to market after plans for a de novo Bermuda launch were dropped.
-
The reinsurer has around a 20% line on the broadcaster’s policy, with Willis Towers Watson acting as the broker.
-
Hessing joined the company in September to replace David Atkins, who had been with Enstar since 2003.
-
William Alderton becomes head of the new worldwide unit.
-
Benjamin Telling worked at AGCS since 2009 and has been an airline underwriter since 2017.
-
It is understood the book will be reinsured to close into Compre’s new legacy syndicate once the launch is approved.
-
The former casualty treaty underwriter has also worked for PartnerRe and HCC International.
-
Francois Xavier Boisseau will remain as chairman of the syndicate after the former Lexington chief joins.
-
Her departure will leave the Atrium hull team significantly depleted after Richard Tomlin also joined Convex earlier this year.
-
The Corporation will guide towards no “new business” in areas like thermal coal-fired power plants and Arctic drilling from 2022 onwards.
-
The underwriter’s resignation marks the latest in a string of senior departures at the carrier.
-
The motor syndicate is undergoing a major strategic expansion into other specialty lines.
-
The decision marks further reshaping of MS Amlin’s marine appetite, as the carrier continues its turnaround efforts.
-
The appointment follows the departure of Richard Golder and Jack Bryan, who are joining Tokio Marine HCC.
-
The territory has been relatively untouched by outbreaks of the virus so far.
-
Soaring rates in the D&O market have prompted a string of underwriting people moves in London.
-
The executive, who has worked at Travelers since 2015, has left as part of the carrier’s restructuring.
-
Julia Henderson and Kathleen Faries are among the key hires to the new vehicle
-
Former Pembroke CEO Mark Wheeler is widely expected to join the business after his restrictions end.
-
The change comes ahead of the renewal in December of the Willis Towers Watson-brokered cover.
-
Odyssey-backed Tysers has been sidelined in the protracted sale process.
-
The exit is understood to be part of a restructuring of the broker's cyber team.
-
As many as 11 accounts have moved in recent weeks among major and start-up brokers.
-
The former Willis broker will lead the development of the group’s international M&A book.
-
Private equity owner Pollen Street appoints Macquarie to run process.
-
The move comes as Dual adds Liberty Specialty Markets veteran Alan Telford as CUO.
-
The PE house and the London market wholesaler will submit bids in just over a week.
-
The decision follows an earlier move to shrink the book and the departure of CUO of international financial lines Tim Powell.
-
The specie market is undergoing a series of senior people moves as market conditions improve.
-
Government shift to immediate priorities and the complexity of the issues prompt a pause.
-
The resignation comes amid a period of heightened staff movement in the hardening class of business.
-
Latest hire follows the appointment of Clive Buesnel at the Integro-owned broker.
-
The Europe-focused legacy firm has also been lined up to take the Syndicate 1969 run-off portfolio.
-
The reinsurance start-up could list on the London Stock Exchange in November.
-
The carrier is one of a number of players to have joined the market following devastating Covid-19 losses.
-
Liability account move is latest development in ongoing reinsurance buying overhaul.
-
The short-tail lines specialist is to depart after 15 years.
-
The former Liberty executive’s long-term ambition is to build a tech-enabled, London-based risk carrier to align with the Future at Lloyd’s vision.
-
Marine liability class underwriter Andreas Muller has also been put under consultation as Syndicate 1200 continues a strategic review.
-
Nicholas Hughes will become retro head, while Guy Hengesbaugh and Aaron Coates join as underwriters.
-
The team is led by Julian Pratt and Michael Lambert, and includes Simon Arden and Giuliano Montano.
-
Financial Services Director General John Berrigan wants to establish a new working group which will report back with proposals in the first quarter.
-
The group remains committed to the class in Bermuda and the US.
-
The partial sale to BGC's affiliate follows a market testing of the broking operation's value.
-
The Lloyd’s business has just appointed former MS Amlin and StarStone executive Chris Rash as CEO.
-
The executive moves over in what is likely to be interpreted as preparation for an orderly CEO succession.
-
Robert Scott-Mackie will join Tokio Marine HCC to build a war book, while Ben Jones will join Gard.
-
Staff displacement continues in the contingency market following huge Covid-19 losses and hardening rates.
-
The carrier’s decision to cease writing marks the first major withdrawal of capacity from the M&A insurance market.
-
Liability losses on the Willis Re-brokered policy will take the claims tally above the expected total $50mn hull loss.
-
The airline has said that it does not expect a total loss to the $200mn policy with the aircraft repairable.
-
Other rival parties are understood to remain in talks about buying the shuttered entity's assets.
-
The insurer says it’s not appropriate to claim government financial assistance on what is an “established and core product”.
-
Ark founder David Foreman is due to retire from the role at year end.
-
The Canadian technology consultant has been working with PPL for an initial period of exclusivity to determine its suitability for the project.
-
The head of risk will succeed Andrew McMellin as the former MGA takes a new strategic direction.
-
The total return player trades at only around 40 percent of book value when marked-to-market.
-
Activist investor Voce had previously criticised the performance of the firm's international businesses.
-
Jim Lye becomes acting active underwriter at the Lloyd’s insurer.
-
The German insurer has placed a new EUR200mn worldwide cat agg deal.
-
The long-serving executive is to depart as clutch of other Australia-based staff resign.
-
The MGA had established the PCC as a way to align underwriting interests with its paper providers.
-
The firm is expected to engage with both PE and strategic players in search for "permanent" capital.
-
The move comes as a broader range of better performing syndicates are told they can “file and use” 2021 plans.
-
The new hire comes amid fierce competition for talent in the broking space.
-
The carrier will streamline management and products and cut a total of around 700 roles.
-
The business was put up for sale as a byproduct of Willis’ own deal with Aon.
-
Dominican Republic firm Refidomsa ran a request for proposal process earlier this year.
-
The executive returns to underwriting after three years at the broker.
-
The latest damaging D&O loss comes as the market hardening continues to accelerate.
-
All options are on the table including a part sale, full sale, Spac IPO or a transaction with Cantor Fitzgerald.
-
BI losses increase the claims tally on the Aon-brokered policy.
-
The broker is about to tell staff how the long-awaited $125mn of incentives will be allocated.
-
The carrier’s decision to withdraw comes just over a year after the partnership was announced.
-
The launch will mark the third follow-only syndicate in the works within the Lloyd’s market.
-
Sources predict Lloyd's will be the executive’s first platform, with £200mn a likely target stamp.
-
The alternative risks MGA was set up in 2019 by fellow Hiscox alumnus Adam Holberry.
-
The executive resigns from his role as global broking head for facultative natural resources.
-
Eventual payouts could vary wildly depending on the interpretation of trends clauses, lawyers note.
-
The space will have plastic screens between desks and temperature sensors, while lift numbers will be limited at 1 Lime Street.
-
The departures come as Aon works to close its takeover and as an anticipated upstream sector recovery stalls.
-
This comes after Everest Re previously let a mid-year renewal lapse, with ILS capacity scarce.
-
Peter O’Neill and Lorena Gallagher join the energy team, while Richard Tomlin heads up marine property and war.
-
The former JLT Re head of London and global market unit is seeking new opportunities.
-
The execs are set to leave the firm after a combined 26 years at Argo and its predecessor companies.
-
The Antares chief looks set to depart alongside ceded reinsurance head Richard Anson.
-
Marine liability, specie, terrorism and general aviation have been identified by sources out as better-performing areas of the business.
-
Bisset has worked at Aon and legacy entities for more than 20 years.
-
Stuart Bridges and Russell Merrett are also working on the venture, with Evercore retained.
-
The investment vehicle looks to establish its own balance sheet to support underwriting franchises.
-
The money would support the upgrade of the carrier’s Bermuda arm to a Class 4 reinsurer, as well as expansion at Lloyd’s.
-
Market entrepreneur profiles potential acquisition targets and starts capital discussions.
-
The new venture would mark the third follow-only syndicate to come to light this year.
-
The executive switches to broking after working at Hiscox for nearly 12 years.
-
Early offers of recompense spark customer demands for phone records.
-
Ben Atkins heads for the Catlin-Brand start-up, while terrorism underwriter Harry Salmon joins IGI.
-
The broker was Aon’s US renewable energy practice leader and joins fellow Aon alumnus Tom Sexton.
-
The carrier has also brought in recruiters for the follow-only Lloyd’s syndicate.
-
Chris Gamber is set to join the company as a class underwriter in the healthcare team.
-
In total, nine out of 10 in-scope staff will participate, an internal memo obtained by this publication shows.
-
Clients could be offered a proportion of their agreed limit in exchange for dropping their claims.
-
PE backer Aquiline is thought most likely to seek a merger partner for the Bermuda-based legacy firm.
-
The syndicate would use a concept for automated placement developed by the former CTMA CEO.
-
The executive was believed to be in line to succeed CEO Mark Cloutier.
-
Cedant buys a cat programme excess $550mn, but also has significant inuring reinsurance.
-
Ian Campbell and Henry Davies are both joining the business to work alongside John Hopper.
-
The Lloyd’s CEO said market repricing “has to happen” after the substantial losses from the pandemic.
-
The broker has the biggest book in the offshore wind market, according to sources.
-
Upstream energy is unaffected by the pullback.
-
Sources also named sector stalwarts Stone Point and Aquiline as potential sources of start-up capital.
-
Angela Kelly is due to leave the Corporation at the end of July.
-
CEO John Neal also urged managing agents to pay Covid-19 claims on products with unspecified pandemic or contagious disease extensions.
-
The new vehicle, which is targeting a 1 January 2021 launch, represents a revision of original plans to launch an SIAB.
-
The broker had been at Aon for the best part of a decade.
-
Broker report models optimistic, moderate, severe and extreme outcomes from pandemic.
-
The launch would mark the first MGA entry into Lloyd’s via the new framework.
-
Lloyd’s is estimated to absorb £3.4bn of this loss, according to the firm.
-
The trade credit insurer plans to reduce or remove credit limits in the absence of a deal with the government.
-
The former Antares managing director spearheaded integration efforts after the Lloyd’s business was purchased by the Qatar carrier.
-
The key (re)insurance fixture may return in 2021 if the public health situation permits.
-
The carrier positions itself to take advantage of rising rates following Covid-19 losses.
-
The heatmap of BI exposure is rapidly changing but reinsurers “stand ready” to pay for losses.
-
A deal would bring the curtain down on AFG's unhappy Lloyd's experience.
-
The executive will join the carrier later this year, reporting to Jon Hancock.
-
A memo seen by this publication says the Dubai-based MGA plans to relaunch its energy operation.
-
The carrier’s entry into the class comes as D&O rates soar on the back of heightened claims.
-
Atish Suri and two others defect to the competitor.
-
The LMA, IUA and others call on the bloc to extend pandemic-era support beyond banks and public export credit agencies.
-
Losses were driven by claims on Canadian dentists’ cover and UK exposure.
-
Half the sum will be put towards a UK market-wide pandemic risk pool facility.
-
Howard and Harrison have wrested the London piece of the account from Guy Carpenter.
-
Robert Wildbore and Marcus Taylor are also at risk.
-
Plans for the syndicate in a box are in the early stages, but the venture could be trading by 1 January 2021.
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