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Howden US casualty executive Chris Harris joins Price Forbes
Price Forbes said the hire takes effect immediately, and the broker recently expanded its Lectio cross-class follow facility to cover US, Canada, and Australia with total premium scope of about $1.6 billion.
Chris Harris has joined Price Forbes as managing director and head of US casualty, with the appointment taking effect immediately, Insurance Business reports. Harris brings more than three decades of experience placing US casualty business across London, European, and Bermuda markets, and he previously served as divisional director of US casualty at Howden.
Before Howden, Harris held senior roles at Bowring Marsh and BMS, and he has also worked in underwriting at managing general agents. Price Forbes operates within Ardonagh Specialty, part of the Ardonagh Group, which trades from London, Bermuda, the United States, and Singapore.
The broker added casualty lines to its Lectio cross-class follow facility about three weeks ago, covering placements in the US, Canada, and Australia, pushing Lectio's total premium scope to approximately $1.6 billion. Dan Walsh, Ardonagh Specialty chief underwriting officer, called casualty one of Price Forbes' largest lines of business.
Price Forbes leadership pointed to ongoing market conditions, noting that US casualty is one of the few major commercial lines where rates are still rising. Guy Carpenter data cited in the report says US casualty has logged underwriting losses for 14 consecutive years, with social inflation, nuclear verdicts, and a litigation environment continuing to drive losses.