Brokers
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Driscoll and Lubert have been promoted to presidents.
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The challenger broker is continuing to build out its presence on the island.
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The hire has 20 years’ experience in asset management and corporate finance.
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The client lacked options in the conventional insurance market.
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He is succeeded by interim co-CEOs Andrew Wheeler and Russ McGuire.
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2023 was the fourth consecutive year insured cat losses surpassed $100bn.
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Wind and tornado in the US may already have led to losses in the hundreds of millions, according to Aon’s report.
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While it is too early to determine the total financial loss, the US Geological Survey believes there is a 64% likelihood it will reach into the billions of US dollars.
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The broker’s 1st View report predicted that cat bond issuance should remain elevated until at least Q2 2024.
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Top-layer cat risk is attracting additional capacity but reinsurers remain firm on attachment points, the broker said.
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Bohm joins from Swiss Re Capital Markets, where he was head of structuring for the Americas.
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Mark Shumway joins from Howden Capital Markets, where he has been managing director since 2020.
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