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The hire comes amid the firm’s drive to expand in the US market. -
Property rates had increased 25.5% one year ago, in Q2 2023.
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A quick roundup of today’s need-to-know news, including Lockton, new PVT business and property rate declines.
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The former Lockton employee’s suit alleges sexual and gender harassment.
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Lila Granda will oversee the PRC portfolio, reporting to insurance CEO Alex Blanco.
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The executive joins the specialty start-up from Great American Insurance.
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He replaces Neill Currie, who will assume the role of independent director.
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Mark Gregory will retire next March, while Sara Mitchell will initially join as a strategic adviser.
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The MGA noted a 17%-20% price decline last year and expects similar for 2024.
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Mike Neal and Mark Abate have been elevated to senior leadership roles.
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Renewals with flat or increased premiums are on the rise, however.
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Reinsurers will likely push for double-digit US premium rate increases.
