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Reinsurance News


London market could become more competitive as FCA investigates broking practices

15th November 2017

Heavy operating costs mean the London market has been losing business to foreign re/insurance hubs in recent years, but according to Fitch Ratings, an upcoming review of broker practices by the Financial Conduct Authority (FCA) could help to reverse this trend. Rising broking commissions have added to pressure on insurers' underwriting ... Read the full article

California wildfire insured losses could reach $8 billion: Aon Benfield

9th November 2017

Aon Benfield, the reinsurance arm of global insurance and reinsurance brokerage Aon, has said that the California wildfires could drive an insurance industry loss of up to $8 billion, which, on an aggregate basis, makes it the costliest insured wildfire event ever recorded. Aon Benfield and its catastrophe risk modelling unit, ... Read the full article

JLT Re and CXIS announce P&C policy growth programme partnership

9th November 2017

Reinsurance broker JLT Re and CXIS have announced a new partnership for the launch of CXIS's Property & Casualty Retention and Policy Growth Programme. CXIS Joseph Serrano said; "We're thrilled to partner with JLT Re in bringing the benefits of the CXIS Retention programme to their clients. "Beyond JLT Re's deep market ... Read the full article

Premature to forecast post-catastrophe rate rises: JLT

7th November 2017

Insurance and reinsurance broker JLT Group said this morning that it is "premature to draw conclusions" as to how much re/insurance rates may rise following the spate of recent catastrophe losses. The brokerage said that due to the timing of both insurance and reinsurance renewals, the impacts of catastrophes including hurricanes ... Read the full article

Willis Towers Watson appoints Evariste Yeung Head of P&C, North Asia

6th November 2017

Global insurance and reinsurance broker, Willis Towers Watson (WTW), has named Evariste Yeung as Head of Property and Casualty (P&C), North Asia, effective 25th September, 2017. Yeung is based in Shanghai and reports to Managing Director of WTW's Insurance Consulting and Technology business in Asia-Pacific, Richard Collis. In his newly created position, ... Read the full article

Gareth Davies joins Lockton in Bermuda from JLT

6th November 2017

Global insurance and reinsurance broker, Lockton, has announced the appointment of Gareth Davies, formerly Chief Executive Officer (CEO) of JLT Bermuda, as Senior Vice President (SVP), Property, Bermuda. Davies has more than 20 years of property broker experience in Bermuda, and has expertise in facultative reinsurance as well as alternative property ... Read the full article

Recent events a reminder of the effectiveness of reinsurance: David Priebe, GC

3rd November 2017

The series of recent catastrophes in Mexico, the U.S. and the Caribbean will generate more opportunities for the reinsurance industry as they demonstrate its necessity as a protection for primary risk bearers, and as an efficient tool for managing large-scale capital events. The recent loss events have the potential to make ... Read the full article

JLT formally joins London Market’s electronic placing platform

1st November 2017

Global insurance and reinsurance brokerage and advisory, JLT Group, has joined the London Market's electronic placing platform, Placing Platform Limited, (PPL). The broker was actively involved in the early developmental stages leading up to the launch of the platform in July 2016, and says it's "encouraged by the progress being made." Following the ... Read the full article

Aon Netherlands completes acquisition of UMG from Aegon

1st November 2017

Aon Groep Nederland, the Netherlands subsidiary of global insurance and reinsurance broker Aon, has completed the acquisition of Unirobe Meeus Group (UMG) from Aegon, for €295 million (US$343 million). The transaction includes the whole of UMG and strengthens Aon's position in the Netherlands marketplace, improving its presence in the SME and ... Read the full article

Maven invests £3mn to fund Altra Consultants’ expansion

31st October 2017

UK private equity house Maven has invested £3 million to fund the construction of its Lloyd's of London registered broking subsidiary, Altra Consultants' new multi-line broking business, Parker Norfolk & Partners (PNP). Following its acquisition of PNP, Altra obtained approvals for it to use PNP’s Lloyd's brass plate, enabling the firm to ... Read the full article

Aon acquires UK insurance broker Henderson

30th October 2017

Insurance and reinsurance broking specialist Aon plc is acquiring Henderson Insurance Broking Group, an independent UK-based insurance brokerage. Henderson is one of the UK’s largest independent brokers, with a focus on general insurance, health and benefits and trade credit insurance. Its clients include large corporates, mid-market and SME businesses and the insurance ... Read the full article

RFIB launches Singapore company

30th October 2017

Independent insurance and reinsurance broker RFIB Group Limited (RFIB) has expanded its footprint in Asia with the opening of an office and operations in Singapore. In announcing the launch of RFIB (Singapore) Pte Ltd, the company said that its new base will serve as a hub for the continued development of ... Read the full article

Recent events highlight expanding U.S. protection gap

27th October 2017

The impact of recent hurricanes in the third-quarter of 2017 on parts of the U.S. brings the country's protection gap into focus, with greater insurance penetration required for what's considered the most developed market in the world. Hurricanes Harvey and Irma brought intense and damaging levels of rainfall, flooding and surge ... Read the full article

Reinsurance growth drives Q3 results for Aon

27th October 2017

Aon plc, the insurance and reinsurance broking specialist, has reported strong organic growth in its reinsurance treaty placement business during the third-quarter of 2017, which has helped to drive a revenue increase. Aon reports that its reinsurance broking business, which sits under the Aon Benfield brand, saw strong growth, particularly in ... Read the full article

Channel Syndicate 2015 hires new environmental class underwriter

25th October 2017

The Channel Syndicate 2015 at Lloyd's has named Nick Bennison as new Class Underwriter of its Environmental Impairment Liability (“EIL”) division with immediate effect. Bennison is an environmental liability specialist with over 16 years of experience in the sector and nearly 30 years insurance industry experience. “The appointment of Nick is indicative ... Read the full article

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