Lockton

With mega insurers pulling out of the product recall marketplace due to losses, MGAs see an opportunity for innovation, according to Lockton.

Lockton Re has confirmed the appointment of industry veteran Rob McNamara as the new head for its North America facultative business.

Mark Schwartz, bringing over 20 years of financial services litigation and insurance experience, will work in a brand-new position to advise clients through the claims process.

Showvanik Dasgupta has worked at Beach Re, Tokio Millennium Re and Aspen Re, where he started his career.

Davies most recently served as head of global Re specialty Bermuda for the firm’s reinsurance division.

The executive will take on the role of chairman of retro, property specialty, Bermuda and market capital.

Lockton’s reinsurance broking arm is seeking to establish itself as a credible challenger to the Big 3.

The privately owned broker aims to strengthen its facultative broking proposition with the appointment of Melanie Cruz from ASSA.

The broker has filled out its representations and warranties, tax liability, contingent liability and litigation units.

Patrick Haraden joins the business from AJ Gallagher, where he was a regional president.

Reporting to head of London North America Mark Higgins, Dan Shaw is set to join in the autumn.

The larger broker says it lost more than $6.5mn in revenue after leaders “solicited” colleagues and clients.