Marsh McLennan

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%.

Andy Stirk comes to Marsh from Ascot Group but had previously been MD in Marsh’s financial and professional liability practice.

Reinsurers are looking to grow in top-layer cat risk, resulting in “variable” outcomes on sign-downs.

She joins Marsh following a 20-year career at Aon.

Amynta Ease-of-Business president Arthur Seifert said he expects MGAs to move away from the popular Dutch auction process and instead find one party that’s a good fit.