The Ticker

Adds global head of cyber to Vanessa Maxwell’s remit as global head of financial lines. She takes up those duties from Scott Sayce, who left the company in June. 

This MGA and Lloyd’s coverholder has opened an office in Switzerland as part of European expansion. Will focus initially on D&O and move into financial institutions, cyber, and international marine. 

Buys Pinpoint Insurance Solutions, an MGA, surplus lines brokerage, and program administrator, and forms Pinpoint UK in London. Pinpoint founder Brad Sickinger continues at helm, and offices remain in Dallas and Milwaukee. Darren Powell hired at Pinpoint UK as chief underwriting officer, starting in September, supported by Shaun Packman, who will head operations. 

This specialist marine MGA forms cargo division in London and hires Scott Sykes as head. He moves from Singapore, where he ran Argenta Underwriting at Lloyd’s Asia. 

Launches first captive syndicate for “major global client” under Lloyd’s new initiative to offer clients risk retention through their own Lloyd’s-rated syndicate rather than a traditional captive model. 

Promotes Ian Thompson to CEO and director of Ascot Underwriting, succeeding Jonathan Zaffino, who remains with the company as Ascot Group president and CEO. Justin Keith, with Ascot since 2017, will take up Thompson’s former role as president and CEO of Ascot Bermuda. 

Launches Axis Cyber Incident Commander, a cyber response service for U.S.-based cyber insureds, offering rapid access to legal counsel, digital forensics, incident response, and crisis/reputational management. 

Berkley Service Professionals rolls out manufacturers E&O product covering damages caused by product or work defect for U.S.-domiciled companies with revenues up to $250 million. Coverage limits up to $3 million primary and $5 million excess. 

Selects Doug Worman, current EVP and global head of underwriting, to succeed Dino Robusto as CEO Jan. 1, 2025. Robusto will become executive chairman. 

Announces plans to lay off 26% of New York state workforce beginning in September. News comes after breakoff of merger plans with Constellation Insurance Holdings and downgrade to AM Best financial strength rating of C (weak).