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The reinsurance broker’s CEO James Kent also said the ILS market reaction to HIM loss creep has varied widely. -
The executive will move back to broking after nearly two years at Axis Capital.
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This comes as Lockton has also been on a recruitment drive to boost its reinsurance division.
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The deal valued BMS at £500mn and is expected to close in the third quarter.
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The insurer placed less coastal aggregate cover than originally planned.
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Mills joins from Hampden Agencies and will report to managing partner Neville Ching.
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Rising Jebi losses will contribute to a squeeze on capacity.
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The start-up went live in May with the name McGill & Partners.
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Brad Melvin and Bruce Selby Bennett have been given new roles at the broker.
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Insurer adjusts programme to seek slightly more aggregate and less “sliver” reinsurance cover.
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Everest Re and RenaissanceRe have given their support to the initiative.
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The Tampa-based broking start-up was launched last year by Ted Blanch.
