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.
Insurtech investment soared to $6bn in 2019, says WTW
30th January 2020
The insurtech sector received $6.37 billion in investments throughout 2019, with nearly $2 billion of that figure coming from the fourth quarter alone, a Willis Towers Watson report has found. During the year, eight rounds of investment took place which led to the creation of five insurtech start-ups valued at over ... Read the full article
Marsh Commercial to combine broker networks into single business
30th January 2020
Marsh Commercial, a division of Marsh & McLennan Companies, has announced plans to merge its three broker networks into a single proposition, called Marsh Networks. The new entity will be comprised of Marsh ProBroker, Bluefin Network, and Purple Partnership. Once combined, members of all three networks will have deeper and wider ... Read the full article
P&C re/insurers slow to implement advanced analytics: WTW
30th January 2020
A recent Willis Towers Watson survey of the US and Canadian property and casualty (P&C) market has revealed that most re/insurers have been implementing advanced analytics at a much slower rate than anticipated. The broker reported that, in general, companies had either been overly ambitious in their goals for using analytics ... Read the full article
THG acquires Massachusetts-based Group Brokerage Insurance Agency
29th January 2020
Virginia headquartered middle market insurance agency, The Hilb Group, LLC (THG) has announced the acquisition of Group Brokerage Insurance Agency, LLC (GBIA), a firm located in Waltham, Massachusetts. The transaction became effective on January 1st, 2020 and sees THG acquire an employee benefits agency primarily providing group medical, dental, life, short ... Read the full article
Gallagher taps Capsicum Re for head of Property Casualty & Special Risks business
29th January 2020
Re/insurance broker Gallagher has added Malcolm Payton to its London-based Specialty division to lead its newly combined Property Casualty & Special Risks business. Since 2015, Payton has been a Managing Partner at Gallagher subsidiary Capsicum Re, where he has run the company’s facultative reinsurance division. He will take up his new role ... Read the full article
WTW bolsters cyber modelling suite with security ratings platform
29th January 2020
Re/insurance broker Willis Towers Watson has integrated SecurityScorecard security ratings into its cyber risk quantification modelling platform. SecurityScorecard reviews a company’s technical security and in order to forecast potential data breach frequencies and related impacts. Ratings are provided to companies which can be used to improve their cyber security as well as ... Read the full article
Aon’s Brad Lorimer appointed EVP & Health leader in Canada
28th January 2020
Brad Lorimer, previously National Director Financial Services Group at Aon in Canada, has been named as the new Executive Vice President (EVP) and Health leader in the insurance and reinsurance broker's Canada operation. Lorimer joined Aon 13 years ago, and brings significant industry knowledge to his new role, having spent years ... Read the full article
AJ Gallagher acquires North Carolina’s Hanover Excess & Surplus
28th January 2020
International insurance brokerage, risk management and consulting services firm, Arthur J. Gallagher & Co. (AJ Gallagher), has acquired Hanover Excess & Surplus, Inc. Based in Wilmington, North Carolina, Hanover Excess & Surplus was established in 1970 and operates as a regional managing general agency offering hard-to-place coastal commercial and personal P&C ... Read the full article
Reinsurance capacity down at political risk renewals: Willis Re
28th January 2020
A decline in reinsurance capacity has helped to trigger price hardening in some quarters of the political risk and trade credit market at the January renewals, according Willis Re. The broker noted that, while there remains an abundance of headline insurance capacity in the political risk space, actual capacity is down ... Read the full article
Risk Strategies promotes Hoffman, Smith to EVP of healthcare practice
28th January 2020
US insurance broker and risk management firm Risk Strategies has promoted Tracy Hoffman and Matthew Smith to executive vice president of its National Health Care Practice. Both Hoffman and Smith previously served as senior vice president within the organisation. In addition to her current responsibilities, Hoffman will work alongside managing director Riggs ... Read the full article
Brown & Brown’s organic revenues up in Q4 & full-year 2019
28th January 2020
Insurance brokerage Brown & Brown, Inc. has reported an increase in revenues for both the fourth-quarter and full-year 2019, of $579 million and $2.4 billion, respectively. Reported revenues are under U.S. generally accepted accounting principles (GAAP) and represent growth of 13.8% and 18.8% for Q4 and the full-year, respectively, when compared ... Read the full article
California brokerage Solomon & Solomon joins Patriot platform
24th January 2020
Patriot Growth Insurance Services, a growth-focused national insurance services company, has announced the addition of California-based independent insurance agency, Solomon & Solomon Insurance Brokers, Inc. to the Patriot platform. The new partnership stands to significantly bolster Patriot's property and casualty (P&C) insurance capabilities, while at the same time strengthen its large ... Read the full article
Lockton appoints JLT’s Harton to lead Irish business
23rd January 2020
Global re/insurance broker Lockton has appointed Amanda Harton as Chief Executive Officer and director of its Irish business. Harton will lead Lockton Insurance Brokers (Ireland) by helping clients manage their risk in real estate, insolvency, waste management, motor trade and hospitality. Lockton’s announcement states that LIBI will continue to expand its offering ... Read the full article
BMS names StarStone’s Jani Kohonen senior vice president
22nd January 2020
Independent re/insurance broker BMS Group has announced the appointment of Jani Kohonen as senior vice president and Atlanta branch manager. Effective January 29, Kohonen will report to BMS Re US president and Chief Executive Officer Pete Chandler. He brings over 15 years’ experience to the role and joins from StarStone Insurance having ... Read the full article
Hyperion & JLT reach confidential settlement
22nd January 2020
A statement from international insurance broking groups Hyperion and JLT announced today that the pair have reached a settlement following a legal process which centred on the hiring of 47 staff from JLT Specialty to Hyperion. JLT started legal proceedings in the summer of last year after the broker accused Hyperion ... Read the full article
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