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The investigation follows several civil racketeering cases filed by Tradesman based on similar facts. -
Last month, Insurance Insider US revealed that former GTS Americas head Scott Pegram had left the company.
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The unit will include both ocean and inland marine coverage.
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It is the second deliverable of the FIT Transition Plan Project.
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The changes affect operations in Switzerland, Bermuda and the US.
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The measure could have landed insurers with extra tax on US business.
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Andrew Pryde succeeds Andreas Kull, who will stay on until September.
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With the added capacity, the MGA can offer up to $35mn per risk.
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Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.
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Willis’ continued reinsurance build-out has targeted London and Bermuda marine and retro specialists.
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The partnership is being formed via Liberty Mutual’s Ironshore subsidiary.
