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.
COVID-19 pandemic is not an insured event, but a reputational one: WTW
7th May 2020
Insurance and reinsurance broker Willis Towers Watson (WTW) highlights an uncertain and pressured outlook for North American commercial insurance buyers in light of the COVID-19 pandemic. In its Insurance Marketplace Realities 2020 Spring Update, WTW predicts large reductions in insurable values but notes that overall, not one line of business predicts ... Read the full article
Willis Towers Watson forms specialist team for distressed organisations
7th May 2020
Re/insurance broker Willis Towers Watson has announced the formation of a Strategic Solutions Group (SSG) within its within its Financial, Executive and Professional Risks (FINEX) global practice and Mergers & Acquisitions Group. SSG will provide specialised risk services to distressed organisations, focusing in particular on risk, insurance and claim challenges faced ... Read the full article
BMS adds Tan Pawar as managing director
6th May 2020
Independent specialist re/insurance broker BMS Group has appointed Tan Pawar as managing director of its new Private Equity, Mergers & Acquisitions and Tax Insurance division. Pawar reports to Ian Gormley, managing director of BMS Global Risks. He brings over 13 years’ M&A and legal experience and has also held various senior positions at ... Read the full article
Gallagher introduces COVID-19 cover for India’s frontline workers
6th May 2020
International insurance and risk management organisation Gallagher has announced the release of a Pandemic Group Insurance product, featuring COVID-19 indemnity cover solution to the India market. The product is for essential workers and front-line services including hospital and healthcare providers, food distribution, and pharmaceutical manufacturers. Coverage is applicable only if the insured ... Read the full article
BMS names Peregrine Towneley as Chairman of Intl. Operations
5th May 2020
Specialist insurance and reinsurance broker, BMS Group, has appointed Marsh's Peregrine Towneley as the Group's Chairman of International Operations, reporting to Nick Cook, Chief Executive Officer (CEO) at BMS. In his new role, Towneley's time will be split between helping develop business for the London wholesale, property and energy teams and ... Read the full article
Matthew Crane named CEO of THB Group & President of Intl. for AmWINS
5th May 2020
Specialist insurance and reinsurance broker THB has named Matthew Crane as Chief Executive Officer (CEO) of THB Group and President of the International division of AmWINS Group, Inc. Crane takes over from Frank Murphy, who has served as CEO of THB Group since 2009 and who is in his 45th year ... Read the full article
Capsicum Re adds trio to Property & Specialty team
5th May 2020
Specialist reinsurance brokerage Capsicum Re has expanded its Property & Specialty team with the additions of Neil Bramley, Tom Regan, and Tom Hipperson. Bramley has joined as a Specialty Account Executive, bringing two decades of industry experience and expertise in data solutions and catastrophe modelling analytics, having previously worked for Price ... Read the full article
TigerRisk adds Lawrence Po-Ba to Lloyd’s capital & investment role
4th May 2020
Insurance and reinsurance brokerage TigerRisk Partners has appointed Lawrence Po-Ba to focus on capital solutions for Lloyd‘s Syndicates. Po-Ba was previously Head of Lloyd’s Specialty Lines and a Partner at Securis Investment Partners LLP. Before that, he was the Lloyd’s Client Manager for SCOR, managing their corporate member at Lloyd’s, as well ... Read the full article
Gallagher reports rise in Q1 earnings, $42.2mn COVID-19 hit
1st May 2020
International re/insurance broker Gallagher has reported a $39.5 million rise in first quarter net earnings, while the total impact of COVID-19 was estimated at $42.2 million. "We are extremely pleased with our first quarter performance, even with the economic deterioration caused by COVID-19," said J. Patrick Gallagher, Jr., Chairman, President and ... Read the full article
Severe scenario puts COVID-19 (US & UK) insured losses at $80bn: WTW
1st May 2020
Under a severe scenario, COVID-19 insurance and reinsurance industry losses for key classes of business in the U.S. and the UK (including the London Market) could be at least $80 billion, according to a report from Willis Towers Watson's (WTW) Insurance Consulting and Technology business. The report is the first to ... Read the full article
Willis Towers Watson launches new cyber cover for shipowners
1st May 2020
Re/insurance brokerage Willis Towers Watson has announced the launch of CyNav, a new type of cyber insurance cover designed specifically for shipowners. The new product aims to provide a solution that specifically addresses ship-operators’ needs, rather than trying to amend existing cyber products to fit marine exposures. Notably, CyNav includes crisis management ... Read the full article
Aon advises Leonardo Electronics Pension Scheme’s £160m buy-in
30th April 2020
Global re/insurance broker Aon has announced its role in advising the trustees of the Leonardo Electronics Pension Scheme on a £160 million pensioner buy-in with Just Group. This is the first buy-in for the scheme designed to reduce risk while still offering accrual of new benefits to active employees. Leonardo is one ... Read the full article
WTW grows organic revenue 4% in Q1, withdraws 2020 guidance
30th April 2020
Global re/insurance broker Willis Towers Watson saw organic revenue hit 4% in the first quarter, while also announcing its decision to withdraw 2020 guidance over ongoing coronavirus fears. It was ultimately decided that WTW should reassess at a future date when it has a clearer understanding of the depth, duration, and ... Read the full article
Marsh & McLennan grows Q1 income, helped by Guy Carpenter
30th April 2020
Marsh & McLennan Companies, Inc. (MMC) has reported a 5% increase in net income during the first quarter of 2020, despite pressure from the coronavirus (COVID-19) pandemic. Income stood at $754 million at the end of Q1, compared with $716 million for the same period last year. Consolidated revenue similarly increase ... Read the full article
Lockton Re bolsters senior leadership with appointments of Mallon, Foxall
30th April 2020
Global reinsurance business Lockton Re has announced the appointment of two new leadership members in its London office. Phillip Mallon will be joining the North American team on 1 May and Freya Foxall will join the International P&C team on 1 July. Mallon will be reporting to Mark Higgins, Head of London ... Read the full article