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.
Gallagher Re hires Junaid Seria as Head of Cat Analytics, LatAm & Caribbean
10th February 2023
Reinsurance broker Gallagher Re has appointed Junaid Seria as Head of Catastrophe Analytics for the fast-growing Latin America and Caribbean markets, with immediate effect. Within the role, Seria will be based in London where he will harness Gallagher Re’s extensive catastrophe modelling and analytical expertise across its dedicated teams in London, ... Read the full article
Gallagher names Head of Natural Resources for MEA
9th February 2023
Re/insurance broker Gallagher has announced the appointment of Corey Tidey as Head of Natural Resources for the Middle East and Africa (MEA). Tidey joins Gallagher from Lockton Australia, having previously held roles with the Victorian Managed Insurance Authority (VMIA), Aon and Intech in both Asia and Europe. He brings experience in working ... Read the full article
Lockton appoints Head of Facilities & Binders to drive P&C Specialty division
9th February 2023
Insurance broker Lockton has appointed Michael James as Head of Facilities & Binders within its London Property & Casualty (P&C) Specialties division, effective immediately. Reporting to Adam Watson, Head of North American Property, James will be heavily involved in branching out the P&C Specialties’ binders and facilities business, focusing on strategic ... Read the full article
WTW reports organic revenue growth of 5% for the fourth quarter
9th February 2023
Global brokerage firm WTW has reported 5% organic revenue growth for the fourth quarter of 2022 to $2.72 billion, although net income for the period fell by 75%, year-on-year, to $593 million. For the full year 2022, WTW achieved 4% organic revenue growth to $8.866 billion, as net income for the ... Read the full article
COVID losses in APAC could strain A&H reinsurers: Gallagher Re
9th February 2023
Analysts at Gallagher Re have warned that new COVID-19-related losses emanating from the Asia-Pacific region may put a strain on first-tier accident and health (A&H) reinsurers through 2023. The broker expects that the majority of these losses will be contained locally, but it does believe that the Lloyd’s market is likely ... Read the full article
European property cat rates-on-line increased 30% at January renewals: Guy Carpenter
7th February 2023
Data from global reinsurance broker Guy Carpenter shows that property catastrophe rates-on-line in Continental Europe increased by 30% at the January 1st, 2023, renewals, marking the largest single rise since 2001. This is according to Guy Carpenter's Continental Europe Property Catastrophe Rate-On-Line Index, which shows that the average rate-on-line for ... Read the full article
Howden Tiger appoints Smith and Walsh to Casualty division
7th February 2023
Howden Tiger, the reinsurance arm of international re/insurance broker Howden Broking Group, has announced the appointment of Garrick Smith and Jim Walsh as Senior Brokers to its Casualty division. Based in North Carolina, Smith will focus on the Casualty and E&S Casualty space, while Walsh, based in Stamford, CT will focus ... Read the full article
Aon appoints Pedro Penalva as Head of Enterprise Clients in EMEA
7th February 2023
Leading global professional services firm, Aon plc has appointed Pedro Penalva as Head of Enterprise clients in Europe, Middle East & Africa (EMEA), effective immediately. Within this role, Penalva will be part of the Enterprise Client Group (ECG) Leadership Team. Penalva joined Aon in 2010. In his most recent role at the ... Read the full article
Aon Reinsurance Solutions bolsters Netherlands team with senior hires
7th February 2023
Aon’s Reinsurance Solutions has bolstered its Netherlands team with a series of senior hires. The firm has appointed Kareem Chin as account director, Lieve Decuypere as senior broker, and Jiske Rigter as senior actuary. As account director, Chin will take a lead role in servicing and expanding the Dutch and cross-border client ... Read the full article
Gallagher Re forecasts “inevitable” market adjustments amid inflation
6th February 2023
Analysts at reinsurance broker Gallagher Re have argued that market adjustments to ensure solvency for the re/insurance industry will be “inevitable” as the market looks to balance the continued effects of inflation, social inflation, elevated supply costs, and other variables. In its 2022 Natural Catastrophe report, Gallagher Re notes that nat ... Read the full article
Aviation market had “most challenging renewal” in over two decades: Aon
6th February 2023
Analysts at Aon have said that the aviation market experienced its most challenging renewal in over two decades at 1/1, with significant rate increases and coverage restrictions. In a new report on January reinsurance market dynamics, the broker noted that insurers with reinsurance renewals in 2023 face an “uncertain market”, with ... Read the full article
WTW appoints Aon’s Van Ede as Global Head of Trade Credit
3rd February 2023
Broking and solutions company WTW, has appointed Aon’s Pieter Van Ede as Global Head of Trade Credit. Within this role, he will report to Evan Freely - Head of Global Financial Solutions at WTW. Based in Denver, Van Ede will be responsible for delivering the Global Trade Credit strategy. WTW has recently highlighted ... Read the full article
Study reveals lack of understanding over re/insurers’ ESG data use
3rd February 2023
According to a recent report from Better Insurance Network and Oxbow Partners, brokers are hoping to get more consistency and transparency from insurers on how client environmental, social and governance (ESG) data is being used. The report, titled ‘ESG Data for Underwriting – How (re)insurers can capture and implement ESG more ... Read the full article
Matthew Silley joins Lockton Re’s growing cyber practice
3rd February 2023
Global insurance broker Lockton’s dedicated reinsurance division, Lockton Re, has appointed Matthew Silley as a broker in the Cyber Practice of the firms Specialty division. Silley joins Lockton Re from Axis Capital, where he most recently held the role of Cyber Portfolio Management Leader. Overall, he brings over 10 years of industry ... Read the full article
Aon’s Reinsurance Solutions delivers 9% organic revenue growth in Q4 2022
3rd February 2023
Global broker Aon's Reinsurance Solutions arm achieved organic revenue growth of 9% in the fourth quarter of 2022, as revenue across the group increased by 2%, year-on-year, to $3.1 billion, reflecting organic revenue growth of 5%. Higher total revenue of $3.1 billion includes the 5% organic revenue growth and a 1% ... Read the full article