Meyer Shields

I was wondering whether Arch is trying to write more of that business or being more cautious because of the risk.

is that going to have an observable impact on the acquisition expense ratio in insurance?

You mentioned that there were a couple of favorable expense items beyond the Bermuda tax credits, and I was hoping you could tell us where those showed up.

I was hoping if you could get an update of timing and maybe amounts of increased spending?

a couple of carriers this earnings season have talked about particularly benign weather and low non-cat losses. I was wondering if you saw anything like that in the MidCorp book.

if we add back the 20 basis points of, I guess, acquisition accounting impact for the insurance segment's acquisition expense ratio, is that a good run rate going forward?

I'm wondering if you could talk about the volume versus profitability implications of that to companies like Arch?

when you have cedents retaining more business, how do you deal with the risk of adverse selection when the cedent kind of decide

Once all of that is done, should Etsy have a lower attritional loss ratio than the legacy arch side of things because of that cat exposure

one question for twenty twenty five on the insurance segment. You talk about how reinsurance purchase is your reinsurance outward reinsurance.

as leading carriers and brokers, both successfully adopt AI, how does that impact what the carriers pay to the brokers

But I was hoping for any insight in terms of the impact of pricing on the Everest business

you mentioned additional margin in casualty lines. I was hoping you could add a little detail to that

there's a decent sequential step up in interest and dividends, and I was hoping you could break it down

I just wanted to confirm that the renewal rights deal like is already active. In other words, that doesn't have to wait for any sort of regulatory approval

I wanted to just check in on the reapportionment of reserves to accident years '21 and '22. And I guess I know we're only looking at net numbers, but should we have seen something like that affect ...

Is that translating into increasing demand for liability coverage? Is that manifesting itself in the market yet?

should the remaining quarters in 2025 have the same impact of expenses moving from other operations to the GI segments?

what, I guess, underwriting pricing policy administration efforts need to happen just to reflect that uncertainty as you sort of sign contracts that are going to expose you to this risk over the ne...

I was hoping you could walk us through how we should think about the impact of the artificial intelligence deployed in underwriting?

The second question is on the timeline for getting the high net worth personal lines business to growth underwriting profitability

To the extent that there is disruption in the London wholesaling market as one of the major players there builds a retail platform in the US. Is that an opportunity for RPS

is the larger account business more or less sensitive, from your perspective, the revenue growth more or less sensitive to the cycle than in small and mid

one of the benefits you were talking about when you bought Gallagher Re was that you could introduce reinsurance brokerage capabilities to all of the carriers

whether there's any direct impact when you've got, I don't know, more frequent claims or more attorney involvement in terms of how Gallagher Bassett grows

I'm just looking for an update on the multiples for M&A, because we've seen not only your acquisition of AssuredPartners, but a lot of the other big brokers

how sensitive clients of different sizes are to elevated social inflation, or legal risk in the U.S?

what's Aon doing to not so much recruit talent as to train it from scratch, or to grow it from scratch?

add a little color in terms of the specific businesses and underlying factors that were so strong in the first quarter of this year

Does that mean that we should expect other such deals, not necessarily with this client, but others?

the rate decreases on catastrophe property will slow down once we've gone through a full renewal cycle

Is that comment also applicable to Specialty Distribution?

is that a fourth quarter issue? Is that where we should expect the drop-off?

Is there a number where you say, okay, we expect normal fluctuation to be 50 basis points of organic growth and anything worse than that is a problem?

I was hoping you could update us on that split between economic growth and pricing in terms of driving organic

you mentioned that there's -- that without flood revenues in the fourth quarter, organic would be 0. Is that if there are no flood revenues?

Does that stay elevated in future quarters also if the sales of these products normalize or go back what it was before?

if the insurance brokers collectively use AI to lower their own expenses or expand their margins. Does that provide an opportunity for companies like Chubb to reduce acquisition expenses?

2 consecutive quarters in North America Personal with really solid top line growth and declining administrative expenses

Peter mentioned that non-fixed income -- investment income is more volatile, but growing faster than the fixed income

how sensitive your large domestic accounts are to social inflation in terms of the coverage that they're looking for

outside that social inflation is running rampant and is a risk of tariffs, which all else equal, I guess

one potential impact of tariffs is that there's less demand for crops, and thinking of soybeans going to China

There was a little bit of an uptick in administrative expenses in North America commercial

you talked about the 108 agency appointments in the first quarter

do either Cincinnati Global or Cincinnati Re have any exposure to the political violence, marine, or energy risks

how you're thinking about catastrophe reinsurance for 2026

I was hoping you give us a sense in terms of what that growth is more casualty or property focused?

we're seeing some reflection of an unusually large decrease in personal auto physical damage and frequency. And I'm wondering whether that

I was hoping you could update us on the amount of casualty talent that you have relative to what you would want

for some specialty lines exposed to the Iran conflict, there have been meaningful rate increases

where you talked about the ambitions for the Global Specialty and Wholesale -- or Global Wholesale and Specialty unit

hoping you can describe your openness to additional retroactive reinsurance transactions for the future other segment

Is there any way of ballparking what that ultimately means in terms of capital liberation?

I was hoping you can get a sense as to what the cat load is for the specialty business, whether 2025 or 2026?

is it reasonable to assume that unless there's some sort of inflection in loss trends that this sort of reserve release

can you talk about, I guess, the books exposure to deflation outside of the United States

I wanted to ask a quick question about tariffs because I think you mentioned the ability to respond

Is there any way of sort of ballparking how much of the increase in demand is at the lower layers

are you maintaining, I guess, full run rate expenses in anticipation of eventual profitability?

what, on the outside, we can expect in terms of Insurance segment loss ratio progress

Are commissions still the right way to be compensated for that? Or do you expect compensation to become more transparently tied to the individual services

Is there any way of teasing out roughly how much of the wealth revenues come directly from assets under management

We've seen, I think, a significant deterioration over the last couple of years in the valuation of publicly traded insurance brokers from an M&A front. How long does it take before that filters int...

are you seeing any increase in the cost of brokerage talent, assuming that even if it's not impacting Marsh's results terribly, we're seeing a lot more movement between brokers

Latin America organic growth slowed a little bit. I'm wondering, is that uncertainty

Do clients appreciate that in terms of seeking additional cover

Did that impact either of the segment's margins materially

how should we think about the impact of reinsurance pricing impacting Guy Carpenter's organic growth

Does the effort required to integrate McGriff impede the ability to do big deals in the United States

Was there something in last year's first quarter revenues that are less recurring than the typical book

When you have more competitors looking to grow, does the cost per unit of advertising go up?

Should there be any impact on a seasonal basis? In other words, is there any pressure on first-quarter combined

are you comfortable growing the more capstone state policy counts in line with the overall book

Michael talked about, I guess, book rolls in personal lines. Does that involve any changes to agency commissions?

is there really a disentangling the how much of a property premium decline in BI is from nonrenewed business

for the lines of business are seeing softening now, whether it's moving faster than it had in the past

is there any reason to switch the book more towards six-month policies because we keep on seeing these fluctuations

whether it's Lloyd's or Reinsurance business, does Berkley have any exposure to the Middle East conflict?

Should we think of that as a top-down directive or is that bubbling up from the various underwriters?

reevaluating recent accident years suggests less of a need to push for rate.

Has your overall view of casualty loss trends changed over the past 3 to 6 months?

When you look at California workers' compensation market, is that a good proxy or a leading indicator

If I can go back to the specialty workers' compensation driving the growth

is the loss trend in those situations, is that getting worse, or is it just something that you're talking about

I was hoping you could frame sort of the uncertainty in the low single-digit forecast. Are there things that you still need to find out in terms of which product carry commissions, commission rates

Hoping we could get sort of annual revenues for Cushion and Flowstone for modeling purposes

with the survey-related results or revenues that are being deferred to the fourth quarter, were the associated expenses still booked in the third quarter?

When you talk about the $1.5 billion of share repurchases, is that the baseline assuming no inorganic activity

Carl, you mentioned some timing issues in career. Is there any way of ball-parking the impact on either revenues or margins