Reinsurance News
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Cyber risk biggest threat to European business as attacks surge: WEF
21st December 2018
The World Economic Forum (WEF) has identified cyber risk as the biggest threat to doing business in Europe following a survey that revealed a surge in cyber attacks over the first half of 2018. Estimates suggest that the number of cyber attacks across Europe increased by around a third in 2018. The ... Read the full article
Guy Carpenter names JLT Re’s Ross Howard as Vice Chairman
21st November 2018
Reinsurance brokerage Guy Carpenter has appointed Ross Howard, currently the Chairman of JLT Re, to become Vice Chairman of the firm, as the integration between JLT and MMC continues following the acquisition. The acquisition of Jardine Lloyd Thompson Group (JLT) by broking and advisory giant Marsh & McLennan Companies, Inc. ... Read the full article
MMC acquisition approved by JLT shareholders
7th November 2018
The shareholders of broker Jardine Lloyd Thompson Group plc have overwhelmingly voted in favour of the firms acquisition by broking and advisory giant Marsh & McLennan Companies, Inc. (MMC). Demonstrating just how much support there was for the acquisition deal, of the shares voted, 99.9% voted in favor of the transaction, ... Read the full article
Guy Carpenter Q3 underlying revenue up 11%, MMC up 3% at $1.6bn
25th October 2018
Guy Carpenter, the reinsurance broker and wholly owned subsidiary of Marsh & McLennan Companies, recorded $215 million of revenue in the third quarter, an 11% increase on an underlying basis, according to MMC's Q3 2018 results. For the nine months ended 30 September, Guy Carpenter's underlying revenue growth was 7%. Meanwhile, MMC's ... Read the full article
Evolving terror threat challenges the entire value chain: Guy Carpenter
8th October 2018
The rapidly evolving nature of the global terror threat is proving challenging to the entire re/insurance value chain, according to reinsurance broker Guy Carpenter, although the industry is well placed to meet its demands head on. The Marsh & McLennan Companies subsidiary claimed that now more than ever, brokers and underwriters ... Read the full article
Guy Carpenter appoints Siobhan O’Brien as Head of International Cyber Centre
1st October 2018
Guy Carpenter & Company, LLC, the reinsurance broker and wholly owned subsidiary of Marsh & McLennan Companies, has appointed Siobhan O’Brien Head of the Cyber Centre of Excellence for International and Global Specialties, effective October 1. The newly-created role will see O’Brien lead the International Cyber Centre of Excellence and work ... Read the full article
Growth the main factor behind JLT acquisition: Dan Glaser
24th September 2018
Dan Glaser, President and Chief Executive Officer (CEO) of Marsh & McLennan Companies, Inc., has said that the firm's acquisition of JLT Group is about growth, noting that the two global insurance and reinsurance brokers are "stronger together". Marsh announced its $5.6 billion takeover of JLT Group on Tuesday, a deal ... Read the full article
Aon confident of organic growth, sees business relevance increasing: Analysts
24th September 2018
Global insurance and reinsurance broker Aon believes that the relevance of its business is on the rise and is confident that it can produce mid-single digit organic growth or higher, according to analysts at J.P. Morgan. Analysts met with Aon's Chief Financial Officer (CFO), Christa Davies and the Chief Operating Officer ... Read the full article
Price cycles less pronounced, rates to fade out in 2019: S&P Global
20th September 2018
In the wake of Monte Carlo’s 62nd "Rendez-Vous de Septembre", S&P Global believes 2018 clearly demonstrated that price cycles have become less pronounced, reinforcing its belief that rate increases will fade out in 2019. The main reason for this pressure, S&P says, is the significant capacity of both traditional and alternative ... Read the full article
Portfolio optimisation needed as market volatility rises: Guy Carpenter
12th September 2018
Optimised portfolio construction is becoming an increasingly vital strategy for re/insurers to tackle growing market volatility, which is being driven by excess capacity and rising claim costs, according to Guy Carpenter, the reinsurance broker and wholly owned subsidiary of Marsh and McLennan Companies. A global roundtable of Guy Carpenter leaders agreed ... Read the full article
Guy Carpenter launches GC Genesis, an expanded InsurTech advisory service
9th September 2018
Guy Carpenter & Company, LLC, the reinsurance broker and wholly owned subsidiary of Marsh & McLennan Companies, has launched an expanded InsurTech advisory offering called GC Genesis. The new service represents a comprehensive, insurer-centric approach to the evolving space of data, analytics, and digital technology-based solutions, and is designed to go ... Read the full article
Guy Carpenter hires Shaun Sinniah as Head of Strategy & Client Engagement
4th September 2018
Guy Carpenter & Company, LLC, the reinsurance broker and wholly owned subsidiary of Marsh & McLennan Companies, has appointed Shaun Sinniah as Head of Strategy and Client Engagement for the firm’s International and Global Specialties divisions, effective from October. Sinniah joins Guy Carpenter from Willis Re, where he most recently served ... Read the full article
Guy Carpenter and RPC Consulting partner on reinsurance analytics platform
22nd August 2018
Guy Carpenter & Company LLC, the reinsurance broker and wholly owned subsidiary of Marsh & McLennan Companies, has entered into a multi-year strategic partnership with Reynolds Porter Chamberlain Consulting LLP (RPCC) to license and develop applications for RPCC’s Tyche analytics software. As part of the arrangement, Guy Carpenter will have exclusive ... Read the full article
FEMA completes $500mn NFIP cat bond reinsurance deal
1st August 2018
The Federal Emergency Management Agency (FEMA) has successfully secured $500 million of reinsurance for the National Flood Insurance Program (NFIP) from the capital markets with the issuance of its FloodSmart Re 2018-1 catastrophe bond. The transaction, which was backed by more than 35 capital markets investors, significantly expands FEMA’s reinsurance program, ... Read the full article
Guy Carpenter names Head of Credit, Bond and Political Risk Practice
25th July 2018
Guy Carpenter & Company, LLC, the reinsurance broker and wholly owned subsidiary of Marsh & McLennan Companies, has promoted Gregory King-Underwood to Head of the Credit, Bond and Political Risk Practice of Guy Carpenter International, effective immediately. He succeeds outgoing practice leader John Orchard, who is leaving Guy Carpenter after 11 ... Read the full article