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.
Global Risk Partners acquires London broker Gauntlet
19th November 2019
Global Risk Partners (GRP), an investment vehicle aimed at insurance brokers and managing general agents, has acquired Gauntlet Insurance Services, a private client broker that specialises in high value assets. Based in London, Gauntlet is responsible for covering assets valued at more than £8 billion, such as historic, fine town and ... Read the full article
AXA to underwrite THB’s Fleet UK product
19th November 2019
Global insurer AXA is to underwrite Lloyd’s wholesale broker THB’s Fleet UK product, as part of a new partnership deal. THB says the decision to pair with AXA originates from wanting to partner with a fleet insurer that values underwriting expertise, as well as AXA’s commitment to offering flexible solutions for ... Read the full article
Lockton hires two from JLT for new APAC Transactional Risks Division
18th November 2019
Global insurance and reinsurance broker Lockton has launched a new Asia Pacific (APAC) Transactional Risks Division, and has appointed Will Seccombe as Business Leader based in Hong Kong, and Mindy Ng as Vice President, based in Singapore. Seccombe brings 30 years of experience in the insurance sector to Lockton, having joined ... Read the full article
Property market still hardening, set to persist through 2020: WTW
18th November 2019
Pricing conditions in the property re/insurance market have continued to harden over and above baseline predictions, with rate increases set to persist through 2020, according to broker Willis Towers Watson (WTW). The current “micro-hard market” has produced pricing increases of between 50% and 100%, according to WTW’s numbers, with some challenged ... Read the full article
Ransomware losses driving cyber rates up: Willis Towers Watson
15th November 2019
Primary and excess cyber renewals are now averaging premium increases in the 5-10% range, driven by an explosion of ransomware losses during the second half of 2019, according to re/insurance broker Willis Towers Watson (WTW). Analysts noted that the uptick in losses has been prompting carriers to re-evaluate their positions in ... Read the full article
EPIC Insurance Brokers wraps up Prime Risk deal
15th November 2019
EPIC Insurance Brokers and Consultants, a retail property and casualty broker and employee benefits consultant, has closed its purchase of Atlanta-headquartered Prime Risk. The deal was first announced in October and will see Prime Risk Partners operate as Prime Risk Partners – an EPIC Company. The firm’s operating leadership and insurance professionals ... Read the full article
Arch & Marsh develop $150mn policy for crypto security firm Ledger
15th November 2019
Arch Insurance (UK) Limited and Marsh have collaborated to provide a customised crime insurance program that covers digital assets secured by the Ledger Vault platform. Ledger Vault is a core business unit of Ledger, a security firm for cryptocurrencies and blockchain applications. It provides information technology infrastructure for financial institutions to securely ... Read the full article
Risk Strategies acquires Ohio brokerage Zito Insurance Agency
14th November 2019
Risk Strategies, a privately held US insurance broker and risk management firm, has acquired Zito Insurance Agency, a full-service insurance brokerage headquartered in Mentor, Ohio. Established in 1963, Zito employs 36 people and provides property and casualty (P&C) and life and health insurance services to both individuals and business across a ... Read the full article
Aon study identifies “many desirable areas” for re/insurance growth
14th November 2019
Aon’s latest Insurance Risk Study has identified “many desirable areas for profitable growth” in the global property casualty re/insurance market, based on favourable combined ratios and variation in results across different countries. The study, now in its 14th year, focuses on many issues related to risk, encompassing the growth dynamics, emerging ... Read the full article
Hub International acquires Canada’s Carey Corp
14th November 2019
Global insurance brokerage Hub International has announced the acquisition of the assets of Canada-based, independent employee benefits consulting firm, W.R. Carey Corporation (Carey Corp). Following the transaction, of which the terms have not been disclosed, actuary Bill Carey alongside all of the employees of Carey Corp will join Hub International Manitoba ... Read the full article
Willis Towers Watson sees “biggest upward price shift in years”
13th November 2019
Global insurance and reinsurance brokerage, Willis Towers Watson (WTW) expects 19 lines of business to see price increases in 2020 in what the firm describes as the "biggest upward price shift in years." The broker has released its 2020 Insurance Marketplace Realities report, which concludes that North American commercial insurance buyers ... Read the full article
CAC Specialty adds Chelley Schaper as SVP
12th November 2019
CAC Specialty, the specialty insurance brokerage and investment banking platform recently established by Cobbs Allen, has announced the appointment of Chelley Schaper to the role of senior vice president. Schaper brings over 20 years experience to the role, including 16 years at Lockton working with complex risk accounts, with a specialisation ... Read the full article
Aon’s Johnston & Komposch join Guy Carpenter, Bermuda
12th November 2019
Guy Carpenter, the reinsurance broking arm of Marsh & McLennan Companies, has appointed Robert Johnston as Chairman of its Bermuda operations, and Peter Komposch as Head of Casualty and Specialty, Bermuda. The appointments are effective immediately and both Johnston and Komposch join Guy Carpenter from rival brokerage Aon. Johnston brings almost two ... Read the full article
WTW adds JLT’s Danyluk as head of international property, London
12th November 2019
Re/insurance broker Willis Towers Watson has announced the appointment of Andrzej Danyluk as head of international property, London. Danyluk joins from JLT, where he most recently served as Head of the London power broking team. He will be responsible for growing the international property portfolio placed in the London insurance market on ... Read the full article
Alliant to “vigorously defend” against Aon lawsuit
12th November 2019
US specialty insurance broker Alliant Insurance Services says it will vigorously defend against Aon’s recently filed lawsuit for claims arising from the departure of employees at Aon’s construction services group. Aon alleges Alliant's latest poaching raid is part of a pattern of hiring brokers from rivals to grow its business. Alliant notes ... Read the full article