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.
Egypt’s FRA suspends new licenses for re/insurance brokers
12th June 2020
The Chairman of Egypt's Financial Regulatory Authority (FRA), Dr. Mohammed Omran, has announced that the Authority's Board of Directors recently approved the suspension of new licenses for insurance and reinsurance brokers. The decision sees the suspension of granting any new licenses for a year, and, comes after a study conducted on ... Read the full article
Rich Macrane joins BMS from WTW as EVP, Casualty Fac Leader, US
11th June 2020
Specialist insurance and reinsurance brokerage BMS Group has named Rich Macrane as Executive Vice President (EVP), Casualty Facultative Leader, effective June 22nd, 2020. In his new role, Macrane will be based in the company's Philadelphia office and will report to Pete Chandler, President and Chief Executive Officer (CEO) of BMS' U.S. ... Read the full article
Aon enhances CyQu cyber risk assessment to reflect remote working exposures
11th June 2020
Global re/insurance brokerage Aon has announced the expansion of its cyber risk assessment methodology, CyQu Enterprise, to help analyse and understand the cyber security impacts in light of the increase in remote working amid the COVID-19 pandemic. Designed specifically for SMEs, Aon's CyQu is an automated cyber self-assessment. Businesses complete a ... Read the full article
WTW and The Hartford partner on captive solution for the middle market
10th June 2020
Global re/insurance broker Willis Towers Watson (WTW) has launched a group captive solution for upper middle market companies, called the Homestead Insurance Company Incorporated Cell. The new captive solution is set to reinsure The Hartford, which in turn will issue admitted insurance policies to members selected for this group program. According to ... Read the full article
Lockton Re adds Bisset & Foreman from Aon
10th June 2020
Lockton Re, the reinsurance broking arm of the privately held and independent intermediary, has added two senior appointments in Bob Bisset and Matt Foreman from Aon. The two senior London hires see the broker make steps towards the build-out of a new retrocessional reinsurance practice. Bisset has been with Aon for almost ... Read the full article
Cyclone Amphan’s $15bn impact mostly uninsured: Aon
10th June 2020
Analysts at re/insurance broker Aon estimate that Cyclone Amphan will drive $15 billion of economic losses across India, Bangladesh and Sri Lanka, although most of the damage is expected to be uninsured. The cyclone made landfall in coastal areas on May 20th as a Category 3 storm with winds gusting up ... Read the full article
Arthur J. Gallagher acquires CRES Insurance Services in Nevada
9th June 2020
International insurance brokerage firm, Arthur J. Gallagher & Co., has announced the acquisition of Las Vegas, Nevada-based CRES Insurance Services, LLC. Founded in 1996, CRES designs, markets and services comprehensive errors & omissions insurance and risk management services to real estate firms and professionals across the US, particularly in the Southwest. Following ... Read the full article
US commercial insurance prices up “significantly” in Q1 2020: WTW
9th June 2020
Insurance and reinsurance broker Willis Towers Watson (WTW) has reported that U.S. commercial insurance prices "increased significantly" in the first-quarter of 2020 when compared with the same period in 2019. Continuing the momentum witnessed in the final quarter of last year, the aggregate price change reported by U.S. carriers exceeded 6% ... Read the full article
Gallagher acquires CA Insurance Brokers
9th June 2020
International re/insurance broker Gallagher has announced the acquisition of Brisbane, Queensland-based CA Insurance Brokers. Founded in 2002 by Andrew Howard, CA Insurance Brokers is a mid-market insurance broker specialized in commercial transportation; construction, earthmoving and professional risks. Howard and his associates will relocate to Gallagher's Brisbane office, operating under the direction of ... Read the full article
Aon adds Harriet Clarke to AMATS unit, launches real estate M&A solution
8th June 2020
Global re/insurance broker Aon's M&A and Transaction Solutions (AMATS) unit has announced the appointment of Harriet Clarke as Director, concurrent to the launch of its Real Estate Solution for M&A transactions (ARES). Clarke is a solicitor who joins Aon from PwC, where she served as head of the corporate real estate ... Read the full article
WTW amends 2020 short-term incentive compensation program for execs
8th June 2020
Global insurance and reinsurance broker Willis Towers Watson (WTW) has adopted changes to the short-term incentive compensation program (the STI Program) for its executive officers for 2020, designed to promote a more unifying, team mindset in light of COVID-19-related uncertainty. The changes mean that under the 2020 STI Program, all executive ... Read the full article
Portfolio management increasingly important for London Market: Lloyd’s & WTW
8th June 2020
Strong portfolio management is becoming an increasingly important tool in the London Market to deliver underwriting profit, according to a new report by Lloyd’s of London and Willis Towers Watson (WTW). The two organisations conducted a study of senior executives and underwriters in the London Market to better understand the impact ... Read the full article
Marsh & AXA XL partner on same-day delivery solution
5th June 2020
Global re/insurance broker Marsh has announced the launch of Marsh deliveryPRO, a customisable insurance solution that enables US businesses to meet the increased demand for same-day delivery of their products more efficiently. Many grocers, delivery network companies, retailers, restaurants, and other businesses are using individual drivers as employees or in a ... Read the full article
The real story of US flood is the lack of insurance take-up: Clark, Guy Carpenter
4th June 2020
Too often, the story around U.S. flood risk focuses on FEMA and what the entity either isn’t doing right or could be doing better, when the real story is the dangerously low levels of flood insurance penetration, according to Jonathan Clark of Guy Carpenter. Clark, who leads the Public Sector division ... Read the full article
COVID-19 to boost demand for W&I coverage: Lockton
4th June 2020
Analysts at re/insurance broker Lockton believe that Warranty & Indemnity (W&I) insurance is likely to become more sought after in the coming months as a result of the COVID-19 pandemic. The firm noted that take up of W&I insurance in mergers and acquisitions (M&A) deals has already increased from 6% to ... Read the full article