Operations/tech
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Senior hires join from Chubb, Brit and Liberty Specialty Markets.
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The carrier appoints two senior staff to the executive committee and will split the operations department into finance and IT functions. -
It is unclear whether Argo’s board is so shameless as to be immune from public criticism, or so addicted to it that they are actively seeking it.
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Victor US managing director Jill Frances will be active underwriter at the Asta-managed syndicate.
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Pete Chandler takes over from Steve Korducki as CEO of the division.
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The executive will work alongside Diane Link, who joined Munich Re Specialty Insurance in April.
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Buyers look to alternative risk transfer options as stressed market conditions continue.
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There is an old saying that you should never ask a barber if you need a haircut. The same goes for financial advisors who get paid on activity rather than success.
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The Japanese carrier is aiming for “steady organic growth” within international specialty but will consider acquisitions.
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Planned premium will be a few points higher than the market-average risk-adjusted rating uplift expected for 2020.
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Mikio Okumura takes the CEO job, while Frudd will retain responsibility for overseas M&A and be a special adviser to the group CEO.
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Paul Driver will be responsible for delivering the unit’s European strategy at Syndicate 2232.
