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His promotion to CEO was announced in March.
Additional capacity for upper-layer coverage is driving rate reductions, the broker said.
The broker noted a shift towards alternative risk solutions in the MENA region.
The executive has worked for Aviva for four years.
Behind the Headlines

Behind the Headlines: Ian Gormley on the key takeaways from RIMS, and BMS expansion plans in 2024

Listen in as BMS UK CEO Ian Gormley shares key takeaways from RIMS, changing dynamics in the property E&S market, and BMS expansion plans in 2024.

Behind the Headlines is a fortnightly podcast hosted by Insurance Insider's senior reporter Sam Casey.

Get the inside scoop on the major stories shaping the London market through discussions with the journalists who broke them. Plus, hear from industry professionals on what these developments mean for the (re)insurance sector.

Every other Friday morning, Behind the Headlines will break down the biggest stories of the last two weeks. Sam will discuss these stories with the journalists who broke them: Catrin Shi, Fiona Robertson, Rachel Dalton and the rest of Insurance Insider's award-winning editorial team.

Plus, he will interview the big names from the London market, getting their perspectives on the state of the industry and the latest headlines.

Opinion
Analysis
Concerning hurricane forecasts are among the factors driving tighter reinsurer capacity.
The average risk adjusted rate increase is hovering at about 2% for clean business.
Combined ratios improved all around thanks to better pricing and a benign cat quarter.
The acquisition brings international M&A opportunities and a pipeline of London wholesale business.
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Interviews
Interviews
The broker said there was an opportunity to take advantage of competition to improve outcomes for clients.
LMG's latest London Matters report reveals that UK capital has lost ground to the US and Bermuda in some lines.
The carrier has ambitious growth plans for its rebranded Munich Re Specialty segment.
O’Shea outlined growth ambitions and managing leadership transitions at the MGA in a wide-ranging interview.

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Berkshire’s Chubb play: A look back at P&C investments by Buffett

The $6.7bn Chubb investment is an outlier in the Berkshire portfolio.
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Early May US SCS activity to cause billions in insured losses: Aon

Storms struck the Great Plains, the Midwest and the Southeast.
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Stat data expense analysis 2023: A tale of two segments

Expense ratios modestly increase for commercial but continue to decline for personal lines.
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State Farm secures $1bn of limit for Merna Re cat bond

The sponsor was targeting between $850mn-$1.1bn of coverage in the latest mega-bond to hit the ILS market.