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This was driven largely by rate decreases for financial and professional lines and continued moderation in the cyber insurance market, which was offset by property insurance increases, the largest of any major product line this quarter.
Marsh, the world’s leading insurance broker and risk advisor and a business of Marsh McLennan, today announced that Pat Donnelly has been appointed as President, Marsh Specialty and Global Placement, effective immediately.
Global commercial insurance prices increased 4% in the first quarter of 2023, the same rate as the fourth quarter of 2022, according to the Global Insurance Market Index released today by Marsh, the world’s leading insurance broker and risk advisor and a business of Marsh McLennan.
The report, published by Marsh Specialty, identifies four areas where increasing risk threatens global trading, security, and investment environments into 2023: persistent political instability; economic retrenchment; competition for strategic resources; and supply chain diversification.
Marsh, the world’s leading insurance broker and risk advisor, today announced the appointment of Nilay Ozden as Leader of Marsh Specialty, Europe. Ms. Ozden is based in London and reports to Lucy Clarke, President, Marsh Specialty and Global Placement, and to Christos Adamantiadis, CEO, Europe, Marsh.