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.
Nexus shuffles management following launch of Xenia Broking Group
9th September 2020
Independent specialty Managing General Agent Nexus Group has announced a reorganisation in its management team following the recent launch of Xenia Broking Group. Xenia is the independent broking arm of Nexus and was formally united under a single trading name and brand in August. Tim Coles will hands over his COO ... Read the full article
US commercial insurance prices up almost 10% in Q2: WTW
9th September 2020
US commercial insurance prices increased by almost 10% during the second quarter of 2020, according to a new survey by re/insurance broker Willis Towers Watson (WTW). WTW’s Commercial Lines Insurance Pricing Survey (CLIPS) found that rates had increased substantially during Q2, when compared with the same period in 2019. Excess/umbrella and directors’ ... Read the full article
Reinsurance capital declined just 3% over H1: Willis Re
9th September 2020
Willis Re, the reinsurance broking arm of Willis Towers Watson (WTW), has reported that total capital dedicated to the global reinsurance industry was $587 billion at June 30th, 2020, reflecting a decline of just 3% when compared with year-end 2019. The latest Reinsurance Market Report from Willis Re found that industry ... Read the full article
Guy Carpenter launches Indonesia Flood Model
9th September 2020
Global risk management and reinsurance brokerage, Guy Carpenter, has announced the launch of its new Indonesia Flood Model (IFM). The IFM will be able to provide its users with countrywide coverage and will enable insurers to assess their flood exposure. The data used is based on a 10,000-year stochastic catalogue simulating ... Read the full article
Willis Re’s Warren Berkstresser joins Beach Re as SVP
8th September 2020
Reinsurance broker Beach & Associates has hired Warren Berkstresser as senior vice president of its US reinsurance division, Beach Re. Berkstresser joins at the end of October and will report to Simon Hedley, CEO of Beach North America. He will focus on developing Beach’s US property treaty and specialty programs business while also ... Read the full article
Aon sets up coalition in Singapore to aid economic recovery
8th September 2020
Re/insurance broker Aon has formed a new coalition of companies in Singapore to focus on aiding social and economic recovery in the wake of the COVID-19 pandemic. It follows the launch of similar coalitions in Chicago and New York and in London, and plans are underway for another in ... Read the full article
THB adds Paul Baker as associate director for North America special risks
7th September 2020
Specialist re/insurance broker THB has appointed Paul Baker as associate director for its London-based North America special risks division. Baker joins from Tysers with 35 years' experience specialising in North American property/catastrophe and transportation risks, both on a facultative basis and in the form of binding authorities. “Like many in the Lloyd’s ... Read the full article
Aon unveils coalition to support COVID-19 recovery phase
7th September 2020
As society continues to move towards the recovery phase of the COVID-19 pandemic, insurance and reinsurance broker Aon has announced the establishment of a coalition of leading London-based businesses, designed to develop key recommendations and guidelines on how companies can operate. The London Work, Travel & Convene Coalition, convened and led ... Read the full article
McGill and Partners continues to build out treaty reinsurance team
7th September 2020
Specialist boutique broker McGill and Partners has made a series of key hires within its treaty team, including Angus Milgate, who joins as head of treaty reinsurance in September. Milgate was formerly head of UK and Ireland for Aon’s reinsurance division and brings over 30 years’ experience in a variety of broking ... Read the full article
Aon’s Adam Salama to join Capsicum Re following rebrand to Gallagher Re
4th September 2020
Specialist reinsurance broker Capsicum Re has announced the appointment of Adam Salama as partner, effective March 2021. Salama will be joining the company after the completion of its previously-announced rebrand to Gallagher Re in October 2020. Capsicum Re announced its rebranding decision this week, as part of an effort to align ... Read the full article
Brown & Brown acquires VAS Group
3rd September 2020
Insurance brokerage Brown & Brown, Inc. has announced that it has entered into an agreement to acquire VAS Inc. and its affiliated companies. VAS is made up of Vehicle Administrative Services, LP, SafeRide Motor Club, Inc. and other related affiliates, and is owned by Bill Breindel. The transaction is expected to be ... Read the full article
H1 results underscore stable outlook for brokers: Fitch
3rd September 2020
With most re/insurance brokers having now reported their results for the first half of the year, analysts at Fitch ratings are confident that the industry will maintain its stable rating and sector outlook, despite the challenges caused by the coronavirus pandemic. The rating agency noted that risks from the ongoing recession ... Read the full article
HIIG launches E&S brokerage business unit
2nd September 2020
International specialty insurance group, Houston International Insurance Group has announced that it has launched an E&S Brokerage business unit to provide liability and property solutions to the wholesale brokerage market. Mark Boland will be leading the unit with support from a team of underwriters. Boland previously held roles as President, E&S at ... Read the full article
Pradip Ghosh named president of Lockton Capital Markets
2nd September 2020
Re/insurance broker Lockton has appointed Pradip Ghosh president of its Lockton Capital Markets unit. Ghosh will work closely with Chief Executive Officer Ken Pierce on direction and oversight as LCM looks to build out its platform. He brings over 20 years' experience in the insurance, financial services, and asset management industries and most recently ... Read the full article
Aston Lark reports 25% revenue growth in 2019
1st September 2020
Aston Lark, the Chartered insurance broker backed by Goldman Sachs, has reported a revenue growth of 25% to £71.6 million in 2019. This is the first set of financial results released since its majority stake acquisition by Goldman Sachs Merchant Banking Division, with Bowmark LLP also re-investing in the newly created ... Read the full article