Energy
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The CEO said companies are still taking charges on years 2013 to 2019. -
WTW predicted that ‘meaningful softening’ could creep into energy markets during the year.
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Increased reinsurance retentions left some insurers with their worst net results in a decade.
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Graham Knight will become chairman of natural resources.
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The companies originally established the capacity agreement in January 2023.
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The facility will target operators across the US, onshore and offshore.
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It will begin underwriting from April 2024.
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The business will be led by Alex Kirkby, new head of marine and energy.
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The appointment comes two weeks after this publication revealed that the executive had resigned from Lockton to join the rival broker.
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The broker said it anticipated new entrants in the downstream class following a profitable 2023.
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The alternative energy warranty captive solutions will be available throughout the United States and Canada.
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The pair will be responsible for managing underwriting activity across their respective lines.
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