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Reinsurance broker news, analysis and insight, covering reinsurance broker market trends and opportunities.

Arthur J. Gallagher to acquire Canadian broker Keyser Benefits

5th April 2019

Global insurance brokerage Arthur J. Gallagher & Co. has announced the acquisition of Canadian broker Keyser Benefits Corp. Based in Calgary, Alberta, Keyser Benefits is a full-service benefits brokerage that has been in operation for more than 45 years. It offers life, disability, health and dental, critical illness, retirement and other services ... Read the full article

PPL surge continues as Board reveals 50,000 risks now bound on the platform

5th April 2019

The board of Placing Platform Limited (PPL), a core component of the London Market’s Target Operating Model, has announced that over 50,000 risks have now been bound on the platform, with close to 12,500 bound in just the last three months. The adoption of electronic placement is increasing across the London ... Read the full article

Downstream energy sector sees first major capacity decrease since 2001: WTW

5th April 2019

The downstream energy sector experienced its first significant decrease in underwriting capacity since 2001, according to a new energy market report by broker Willis Towers Watson. Downstream capacity fell from $6.8 billion to $6.2 billion in the first major market turn since the aftermath of 9/11, WTW analysts said. They attributed the ... Read the full article

Number of LIIBA members committed to PPL surpasses 100

4th April 2019

More than 100 members of the London International Insurance Brokers' Association (LIIBA) have now committed to signing up for the Placing Platform Limited (PPL), a core component of the London Market’s Target Operating Model. The adoption of electronic placement is increasing across the London market as an overall drive for greater insurance ... Read the full article

MGA EPUL targets unorthodox property risks with launch of Solutions

3rd April 2019

European Property Underwriting Limited (EPUL), a commercial property managing general agent (MGA), has launched a new suite of covers designed specifically to address the challenges brokers face when looking to place cover for unorthodox property owner risks, called Solutions. The range of covers on offer through Solutions, specifically target risks with ... Read the full article

Beach expands London wholesale operation with two new hires

3rd April 2019

Reinsurance brokerage Beach & Associates has expanded its London wholesale operation with two new hires. Nick Fearon joins from Miller Insurance Services where he led its US Professional Liability team. Beach says his appointment will bring further expertise in the financial and professional lines space. Lee Bonnett joins from Marsh Specialty, where ... Read the full article

Japan renewals were orderly with stable reinsurer capacity: Willis Re

2nd April 2019

The April renewals in Japan were orderly despite the level of catastrophe losses in 2018, with reinsurance capacity remaining stable, according to broker Willis Re, the reinsurance arm of broker Willis Towers Watson. Buyers sought increased capacity, both on an aggregate basis and for earthquake occurrence, analysts observed in Willis Re’s ... Read the full article

Eleonora Geamanu named Head of Willis Towers Watson in Romania

2nd April 2019

Global insurance and reinsurance broker Willis Towers Watson (WTW) has appointed Eleonora Geamanu as Head of WTW in Romania. Based in Bucharest, she will take responsibility for driving revenue growth and meeting clients' needs across the Romania marketplace, for a broad set of business lines. She joined WTW in 2007 and has ... Read the full article

LiquidX, Marsh partner on electronic platform for trade credit insurance

2nd April 2019

LiquidX, the international network for illiquid assets, has partnered with global insurance and reinsurance broker Marsh, on the launch of a "next generation" platform for the trade credit insurance sector, called the Liquid Trade Credit Insurance Marketplace. The new electronic marketplace went live recently, with numerous transactions executed and underwritten by ... Read the full article

Guy Carpenter & JLT Re combo an opportunity to provide the best of service

2nd April 2019

The combination of Guy Carpenter (GC) and JLT Re provides the brokerage with an opportunity to offer the best of service to clients around the world, according to GC President and Chief Executive Officer (CEO), Peter Hearn and Ross Howard, Vice Chairman of GC. Marsh & McLennan Companies, Inc. (MMC) ... Read the full article

Aon raises industry loss estimates to $11bn for Michael, $5.5bn for Florence

2nd April 2019

Re/insurance broker Aon has released the highest industry loss estimates yet for the two major hurricanes that hit the U.S last year, estimating total re/insured losses of $11 billion for Hurricane Michael and $5.5 billion for Hurricane Florence. The updated figures came as part of Aon’s March Event Recap Reports, which ... Read the full article

Boeing crash could be biggest non-war aviation reinsurance loss: Willis Re

1st April 2019

The recent Ethiopian Airlines crash and subsequent grounding of Boeing’s global fleet of 737 Max aircraft could potentially be the largest ever non-war claim incurred by the aviation reinsurance market, according to Willis Re. The broker said that losses from the incident could erode three to four years’ worth of reinsurers’ ... Read the full article

Nexus Group’s Xenia broking arm acquires Credit & Business Finance

1st April 2019

Nexus Group's recently launched London-based independent broking arm, Xenia Broking Group, has completed the takeover of Credit & Business Finance Ltd (CBF), its first acquisition. Xenia's first acquisition marks number 14 for Nexus Group. CBF, a specialist trade credit broker with more than 20 staff, is the second trade credit ... Read the full article

WTW announces $1.2bn acquisition of TRANZACT

1st April 2019

Global re/insurance brokerage Willis Towers Watson (WTW) has announced its acquisition of TRANZACT, a direct-to-consumer healthcare organisation, for $1.2 billion. WTW hopes the deal will accelerate its direct-to-consumer strategy and ability to target the 50 million strong Medicare market. TRANZACT will operate as an integral part of WTW’s Benefits Delivery and Administration ... Read the full article

Marsh & McLennan finalises JLT acquisition

1st April 2019

Marsh & McLennan Companies, Inc. (MMC) has announced the completion of its acquisition of Jardine Lloyd Thompson Group plc (JLT) for $5.6 billion in fully diluted equity value. The deal, first announced in September 2018, is expected to boost MMC’s position in insurance and reinsurance broking, health and retirement. It will ... Read the full article

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