Marsh McLennan

Shannan Fort was a partner in McGill’s FI and cyber team.

The index’s 2023 peak was Q2, when rates increased 19%.

Falling rates in finpro and increased competition in property drove the trend.

The Insurance Insider US news team runs you through the earnings results for the day.

The CEO flagged a trend towards mega settlements and said there was concern around the direction of loss costs.

Property rate increases decelerated to 6% in Q4, compared to 7% in Q3 and 10% in Q2 2023.

The broker's growth was down 3 points on the 10% reported in Q3 and level with the 7% posted in Q4 2022.

Effective immediately, Wolfe will help drive growth strategies across the region. He will also lead Guy Carpenter’s US facultative business alongside Frank Guerriero, chairman of Guy Carpenter Facultative.

In October 2023, it was announced that Powell was leaving Marsh to join WTW as the broker’s global chief claims officer.

The Global Risks Report 2024, made in partnership with Marsh and Zurich, shows that extreme weather events, misinformation and disinformation are top risk severity concerns.

While not record-setting, 2023 was a “solid year” for insurance brokerage M&A, and there is “tempered” optimism for 2024.

European rates on line increased by 7.60%, while in the US prices were up 5.25%.