Reinsurance News
Reinsurance broking news
Reinsurance broker news, analysis and insight, covering reinsurance broking market developments, 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.
Pre-COVID-19 structural factors to influence reinsurance renewals: Flandro, Hyperion X
19th May 2020
While the COVID-19 pandemic will undoubtedly have an influence on upcoming renewals for insurers and reinsurers, for the latter, the broad structural factors that have been in place prior to the outbreak cannot be ignored, according to David Flandro, Managing Director at Hyperion X. In a recent video interview with our ... Read the full article
Aon appoints General Manager for Data & Analytics Services
19th May 2020
Re/insurance broker Aon has promoted Steve Petrevski to the position of Senior Vice President (SVP) and General Manager of Data & Analytic Services. In this role, Petrevski will be responsible for developing Aon’s Data & Analytic Services platform, reporting to John Bruno, CEO of Data & Analytic Services and COO of ... Read the full article
BMS inks Preferred Partner agreement with Chilean broker Insurex Re
18th May 2020
Independant specialist re/insurance broker BMS Group has concluded its Preferred Partner agreement with Insurex Re. A long-term business plan has been agreed with the independent Chilean reinsurance broker and existing trading partner that will see the two target facultative and treaty reinsurance placements, spanning property cat, financial lines, surety and construction. In ... Read the full article
Dominic Addesso named Non-Exec Chairman of BMS Intermediaries
18th May 2020
Specialist insurance and reinsurance broker BMS Group has announced the appointments of Dominic Addesso as Non-Executive Chairman and LoriAnn Lowery-Biggers as an independent Non-Executive Director of BMS Intermediaries Inc., the Group's US reinsurance intermediary unit. At the same time, both Addesso and Lowery-Biggers also join as independent Non-Executive Directors of the ... Read the full article
Reinsurance broker Ed launches TradEd in Bermuda
18th May 2020
Global reinsurance brokerage Ed has announced that its TradEd platform is now available to both carriers and clients in Bermuda. The TradEd electronic trading platform is used in-house by BGC insurance companies across the world, designed to enable a seamless placement of risk for all parties involved. An announcement on the external ... Read the full article
Volatility driving pricing disparity in bulk annuity market: Aon
15th May 2020
Recent volatile market conditions have been driving a much wider range of pricing for pension scheme buy-ins and buy-outs than has been seen over the last decade, according to re/insurance broker Aon. Despite these uncertainties, Aon still forecasts that 2020 will be another busy year for risk settlement, with pension schemes ... Read the full article
COVID-19 likely to worsen pre-existing capacity hardening: Steve Hearn
14th May 2020
Although too early to accurately predict coronavirus’ full impact on the re/insurance space, BGCI Chief Executive Officer Steve Hearn can see the pandemic exacerbating the industry's pre-existing environment of capacity hardening. Speaking recently to Reinsurance News, Hearn noted how the pandemic will likely cause customers to look very closely at their ... Read the full article
Guy Carpenter launches Philippines Flood Model
14th May 2020
Guy Carpenter, the reinsurance broking arm of Marsh & McLennan Companies, has announced the launch of its new probabilistic flood model for the Philippines. The Philippines Flood Model provides countrywide coverage and enables insurers to assess exposure for one of the most common natural hazards in the region. Guy Carpenter’s model is ... Read the full article
EC3 Brokers launches specialty division, announces leadership
13th May 2020
EC3 Brokers, the Lloyd's-headquartered commercial lines broker, has announced the launch of its specialty division and appointed Jonathon Lane as its head. Lane is joined by Dominic Toogood and Gary Moore, with all three reporting to James Murphy, head of broking at EC3 Brokers. Lane began his career in insurance in 2003 ... Read the full article
Ed names Brett Hatton as Divisional Director, Downstream Energy
13th May 2020
Global reinsurance brokerage Ed has bolstered its downstream energy team with the addition of Brett Hatton as Divisional Director, Downstream Energy, effective September 2020. In his new role, Hatton will be based in London and will report to Jon Parker, who leads the broker's downstream energy team. Hatton joins the firm from ... Read the full article
Swiss Re announces Lockton Affinity as administrator for Tennessee LPL program
12th May 2020
Global reinsurance giant Swiss Re has selected Lockton Affinity, an affiliate of Lockton Companies, as the new program administrator for its Lawyer Professional Liability (LPL) insurance in Tennessee, U.S., effective June 1st, 2020. This program provides lawyers with a comprehensive Professional Liability solution through Swiss Re, with best-in-class administration from Lockton ... Read the full article
Commercial insurance pricing up 14%, COVID-19 impact insignificant: Marsh
12th May 2020
Global commercial insurance pricing increased for the tenth consecutive quarter in the opening three months of 2020, while the impact of the ongoing COVID-19 pandemic on pricing dynamics proved to be insignificant, reports re/insurance broker Marsh. In the first-quarter of 2020, global commercial insurance pricing rose 14% on the back of ... Read the full article
Aon/WTW merger talks began in January 2019
11th May 2020
Discussions about a potential merger between re/insurance brokers Aon and Willis Towers Watson (WTW) began in January 2019, according to a new timeline of the transaction released by both firms. The document shows that CEOs Greg Case and John Haley first met on January 30, 2019 to explore options for a ... Read the full article
Aon expands intellectual property offering with new MGA
11th May 2020
Global insurance and reinsurance broker Aon has announced the launch of a new underwriting platform featuring the world's largest capacity for intellectual property (IP) liability risks. Aon says that its latest offering is designed to meet the changing needs of clients' IP exposures, especially in the current distressed economic environment that ... Read the full article
Ransomware continues to dominate cyber discussion: Aon
8th May 2020
Ransomware continues to dominate the cyber insurance discussion according to broker Aon, with total ransomware incidents up 135% last year and carriers steadily fielding more claims emanating from these attacks. Ransomware infections also continued to affect all industries, although sectors like healthcare, public administration, and education experienced the most reported incidents. But ... Read the full article
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