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

Alliant takes investment from pension fund PSP and Stone Point

23rd January 2019

Independent insurance brokerage, Alliant Insurance Services, has revealed that the Public Sector Pension Investment Board (PSP Investments) is to make an investment in the firm. PSP Investments, a Canadian pension investment manager, has roughly CA$160 billion (US$120bn) of assets under management (AuM), as at September 30th, 2018. According to an announcement on ... Read the full article

Jerry Ridge to be Head of Reinsurance at Lockton Re

23rd January 2019

Reinsurance broker Lockton Re has announced that Jerry Ridge is to lead the firm as Head of Reinsurance, following the retirement of George Carrington this Spring. As Head of Reinsurance at Lockton Re, Ridge will lead the firm's 60 dedicated reinsurance professionals across the UK and the U.S., as the company ... Read the full article

Marsh & McLennan expands Florida presence with Bouchard acquisition

23rd January 2019

Marsh & McLennan Agency LLC, a subsidiary of global insurance and reinsurance broker Marsh, has announced that it is to acquire Florida domiciled full-service agency, Bouchard Insurance. Terms of the transaction were not disclosed, but it's been reported that the deal is expected to close later this month. Bouchard Insurance has dedicated ... Read the full article

FANDO appoints heads of Global Markets & Broking

22nd January 2019

FANDO Group, an independent wholesale, MGA and reinsurance broker based in Sydney, Australia, has appointed Julian Sparkes as Head of Global Markets and David Boreham as Head of Broking. Sparkes, who joins FANDO with effect from 1 January 2019, is the former Chief Executive Officer (CEO) and Founder of Savannah Group, ... Read the full article

Aon puts insured cat losses at $90bn in 2018, economic costs at $225bn

22nd January 2019

Re/insurance broker Aon has estimated that the re/insurance industry will incur $90 billion of catastrophe losses in 2018, or around 40% of the total $225 billion economic cost. Aon reported that losses were generated by 394 natural disaster events in 2018, with weather catastrophes driving the majority of losses. The broker also ... Read the full article

“Armageddon scenario” needed to turn reinsurance pricing: Jason Howard

18th January 2019

With roughly $600 billion of capital still flowing through the reinsurance market after a succession of costly catastrophe years, large-scale hardening outside of an “armageddon scenario” seems extremely unlikely, according to the Chief Executive Officer of reinsurance brokerage Beach & Associates, Jason Howard. Addressing an audience yesterday in the Old Library ... Read the full article

MMC names Portalatin Vice Chair, Ferland becomes Mercer CEO

17th January 2019

In the wake of its $5.6 billion acquisition of Jardine Lloyd Thompson (JLT) Group, broking and advisory giant Marsh & McLennan Companies (MMC) has announced the appointment of Martine Ferland as President and Chief Executive Officer of its global consulting subsidiary Mercer, effective 1 March 2019. Ferland replaces Julio Portalatin, who served ... Read the full article

ConsiliumRe to strengthen LatAm ties with Miami expansion

17th January 2019

ConsiliumRe, the international facultative division of Direct Insurance Group, has announced that it plans to expand its operations into Miami in order to better service the Latin American market. The London-based broker explained that the expansion would build on the significant traction that it has gained in the LatAm region since ... Read the full article

Guy Carpenter restructures to accommodate JLT Re teams

17th January 2019

Reinsurance broker Guy Carpenter has announced the establishment of a new Global Capital Solutions Group that will be led by the firm's Vice Chairman, David Priebe. At the same time, the firm has revealed a series of new appointments, all in relation to the acquisition of JLT Group by its ... Read the full article

P&C market still in modest transition despite strong financial performance: Lockton

17th January 2019

Despite the strong financial performance of the U.S property and casualty (P&C) sector, the market is still in a modest transition as there is a continued increase in the frequency of severe claims and a prolonged period of large weather events, according to re/insurance broker Lockton. Lockton states that the U.S ... Read the full article

WTW estimates industry cat losses at $71.5bn for 2018

16th January 2019

Global insurance and reinsurance broker Willis Towers Watson (WTW) has estimated that major natural catastrophes cost the re/insurance industry $71.5 billion in 2018, with losses primarily driven by smaller events. This figure is only slightly above the annual average since 2011 but the third-highest total during this period, according to WTW’s ... Read the full article

Increased demand for reinsurance to boost brokers’ revenues: KBW

14th January 2019

Following the reinsurance renewal reports published by Willis Re and JLT Re pointing to flat overall pricing at 1/1, analysts at Keefe, Bruyette & Woods (KBW) have stated that a growing overall demand should boost reinsurance brokers’ revenues. KBW points to Marsh & Mclennan Companies and Willis Towers Watson as ... Read the full article

Global reinsurance capital resilient despite two years of losses: Aon

14th January 2019

Dedicated, global reinsurance capital declined by 2% in the first nine months of 2018 to $595 billion, driven by a decline in traditional capital by $20 billion, according to insurance and reinsurance broker Aon. The 2% overall decline to $595 billion at the end of September, 2018, is from the end ... Read the full article

Marsh has placed more than 15,000 risks through the PPL

14th January 2019

Global insurance and reinsurance broker Marsh has announced that in 2018, it had placed more than 10,000 risks through the London Market Group's (LMG) electronic placement platform, Placing Platform Limited (PPL). In total, Marsh has now placed more than 15,000 risks on the electronic platform, which is used by the Lloyd's ... Read the full article

P&C capital growth may reflect favourable industry expectations: Guy Carpenter

11th January 2019

Despite subpar underwriting returns, the property and casualty industry increased its capital position by $81 billion between 2014 and 2017, a growth which broker Guy Carpenter believes may be a sign that management teams expect favourable conditions ahead and want capital ready to deploy into new endeavors to grow their businesses. In ... Read the full article

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