Marsh McLennan

Concern around prior-year loss development and social inflation is impacting the market.

“As we look to January 1, the market appears to be more orderly than last year, but we expect underwriting discipline to continue,” CEO John Doyle told analysts.

Adjusted earnings per share increased by 33% and the group also reported margin expansion.

The payment represents the largest ever made in a team lift case in the London market.

Pat Tomlinson will also step into the role of president and CEO of Mercer and vice chair of Marsh McLennan when his predecessor, Martine Ferland, retires in March 2024.

Pellegrini succeeds Michelle Sartain, who was promoted to US and Canada president earlier this year as Pat Donnelly took over as Marsh specialty president.

The question of how to finance the private brokers no longer begins and ends with a PE flip.

Differences in business mix and definitions yield differing trajectories for brokers, but in the absence of a recession, we may see continued margin improvement.

The US and Europe have shown concerns over Lloyd’s of London war exclusion wording, the report shows.

Outgoing CEO Brian Hanuschak was named chairman and will remain as a strategic advisor to the MGU.

Areas of focus should include hiring external talent, securing capital for M&A, speeding up US growth, and answering the reinsurance question.

Q2 cat losses reported by most carriers were significantly higher than a year ago owing to the number of US convective storms and likely higher carrier retentions at reinsurance renewals.