Reinsurance News
Reinsurance broking news
Reinsurance broker news, analysis and insight, covering reinsurance broker market trends and opportunities.
Reinsurance brokers have a core role to play in the market, so we frequently cover news related to their activities and also interview senior reinsurance broking executives as well.
Optio Group’s Dubai-based MGA and A&H reinsurance broker commences trading
31st January 2023
Specialty MGA Optio Group's recently established Dubai-based MGA and Accident and Health (A&H) reinsurance broker, Optio Re MENA Ltd., has now commenced trading following the receipt of required approvals from UAE regulatory authorities. By drawing on the wider group's specialty expertise, the new operation will, over time, expand to include PVT, ... Read the full article
Consilium appoints International Casualty Broker
31st January 2023
Consilium, the global speciality re/insurance broking business of the Aventum Group, has announced the appointment of Matthew Gould as Associate Partner placing International Casualty. Formerly a broker at Zeus, Gould brings experience in placing specialist and complex Canadian, Australian and US construction liability risks in the London market. His background covers both ... Read the full article
WTW launches new cyber facility CyXS
31st January 2023
Broking and solutions company, WTW has launched CyXS, a new cyber facility that aims to provide capacity and efficiency for its clients around the world. Key elements of the facility include access to up to 50m (USD/ GBP/ EUR) of excess layer capacity which can be deployed with complete flexibility anywhere ... Read the full article
Reinsurers had the upper hand at January cat renewals: Guy Carpenter’s Klisura
30th January 2023
Dean Klisura, President and CEO of Guy Carpenter, the reinsurance arm of Marsh Mclennan, has suggested that reinsurers had the upper hand at the January cat renewals. The quote comes from Marsh McLennan's Q4 2022 earnings call, in which Klisura was questioned about changes in client behaviour at the renewals. He said, ... Read the full article
Miller hires Matthew Keeping as Head of P&C
30th January 2023
Specialist re/insurance broker, Miller has appointed Matthew Keeping as Head of Property & Casualty (P&C), where he will report to Tim Norman, Managing Director, Miller UK. He succeeds Mike Papworth who was recently appointed to the new dual role of Managing Director of Miller International and Chairman of P&C, following ... Read the full article
Global insured losses from natural catastrophes in 2022 seen at $140bn by Gallagher Re
30th January 2023
For the fifth year since 2017, insurance and reinsurance industry losses from natural catastrophe events exceeded the $100 billion threshold in 2022 at a huge $140 billion, reports reinsurance broker Gallagher Re. The broker's 2022 Natural Catastrophe report, published today, notes another year of complex natural disaster events in 2022, which ... Read the full article
AJ Gallagher’s brokerage & risk management units post 16% organic revenue growth in Q4
27th January 2023
Global insurance and reinsurance broker, Arthur J. Gallagher & Co., has reported adjusted net earnings of $367.9 million for the fourth quarter of 2022 within its brokerage operations, which alongside higher earnings in its risk management segment, more than offset an elevated loss within the corporate division. Company-wide, adjusted net earnings ... Read the full article
Miller forms new structure to support UK & international growth
27th January 2023
Specialist re/insurance broker Miller has announced the re-alignment of its business into two divisions, Miller UK and Miller International. The firm states that Miller International, which launched at the beginning of 2023, will oversee all activity across Miller’s global offices, supporting its ambitions for continued expansion. Meanwhile, Miller UK, which came into ... Read the full article
Lockton launches Sweden office to expand Nordic footprint
27th January 2023
Insurance broker Lockton has announced the opening of a new office in Stockholm, Sweden, as part of the firms expanding proposition to clients in the region. Lockton stated that the office is expected to be operational by the end of January, following the arrival of two key hires and industry experts, ... Read the full article
Guy Carpenter’s revenue up 8% during an ‘outstanding year’ for Marsh McLennan
26th January 2023
Insurance and reinsurance brokerage, Marsh McLennan, has today reported consolidated revenue of $5 billion for Q4 and $20.7 billion for the full-year 2022, supported by solid revenue growth at its reinsurance arm, Guy Carpenter. At $5 billion, consolidated revenue in the fourth quarter of 2022 actually declined by 2% when compared ... Read the full article
Acrisure Re expands fac division into Poland via Smartt Re deal
26th January 2023
Acrisure Re, the reinsurance division of global insurance broker and fintech platform Acrisure, has announced that its facultative team is set to expand into the Polish market via a preferred partnership broker agreement with Smartt Re. Headquartered in Warsaw, Poland, Smartt Re is the leading reinsurance broker in Poland and has ... Read the full article
ILS demand to be elevated throughout 2023: Aon
25th January 2023
Analysts at Aon have said they expect demand for all forms of alternative capital to remain elevated throughout 2023 as insurers and reinsurers look to mitigate both macro-economic and reinsurance market challenges. In a new report on January reinsurance market dynamics, the broker noted that ILS capital has become an “essential ... Read the full article
Bermuda re/insurers to see improved pricing & performance in 2023: Fitch
24th January 2023
Despite heightened catastrophe losses and economic uncertainty, Fitch Ratings expects improved underwriting performances for Bermuda re/insurers in 2023, driven mainly by accelerating premium rates, alongside a market reset in pricing, terms and conditions. The rating agency states that the underwriting performances of Bermuda re/insurers are positioned to improve as the aforementioned ... Read the full article
Aon names McKnight Managing Director for Structured Reinsurance
24th January 2023
Insurance and reinsurance broker, Aon has appointed Michael McKnight to the role of Managing Director, Structured Reinsurance. As an insurance executive with over three decades of industry experience, McKnight specialises in the areas of actuarial, risk management, claims and underwriting. He has spent most of his career in the Bermuda marketplace, and ... Read the full article
Brown & Brown sees big rise in revenues & income in Q4 results
24th January 2023
US broker firm Brown & Brown has reported revenues of $901.4 million for the fourth quarter of 2022, representing an increase of $162.9 million, or 22.1%, when compared to the same period last year. Notably, organic revenue totalled $764.7 million for Q4, up 7.8% from last year, but still remained lower ... Read the full article
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