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.
David Grigg to lead Aon’s Reinsurance Solutions US cyber team
20th April 2023
Aon’s Reinsurance Solutions has named AXA XL’s David Grigg as Executive Managing Director to lead its US Cyber Reinsurance team. Based in Aon’s New York office, Grigg is to start his new role immediately. He will be reporting to Randy Stanco, co-leader of the New York/New Jersey Reinsurance Treaty Office and ... Read the full article
Reinsurance outlook to improve as investment volatility eases: Aon
20th April 2023
Reflecting on reinsurers’ performance over 2022, analysts at global professional services firm Aon note that investment losses “weighed heavily” on results, but they also assure that the sector outlook is set to improve as volatility eases. The broker took stock of the year in the latest edition of its Aon ... Read the full article
Global nat cat economic losses reach $77bn in Q1 2023: Gallagher Re
19th April 2023
Global natural catastrophe economic losses reached an estimated $77bn in the first quarter of 2023, with public and private insurance entities covering at least an estimated $22bn of that total, resulting in a 72% or $55bn protection gap, Gallagher Re reported. According to the broker’s Q1 2023 Natural Catastrophe report, these ... Read the full article
BMS to acquire specialist broker, Western United Financial Services
19th April 2023
Specialist insurance and reinsurance broker BMS Group has entered into an agreement to acquire West Australian specialist broker Western United Financial Services (WUFS). The terms of the transaction have not been disclosed. Founded in 2002, WUFS offers tailored insurance broking, risk management and claims handling services. At the same time, the firm ... Read the full article
TWIA needs $1.043bn of fresh reinsurance for 2023 as Board rejects ILW option
19th April 2023
The Texas Windstorm Insurance Association (TWIA) needs to procure $1.043 billion of new traditional reinsurance limit at the mid-year renewals to take its 2023 tower to the 1-in-100 level of $4.508 billion, with the Board recently declining an industry-loss warranty (ILW) option for the top of its tower. Previously, TWIA's Board ... Read the full article
WTW notes “sea change” in political risk perception
19th April 2023
Analysts at global advisory, broking, and solutions company WTW have noted a “sea change” in how companies perceive political risk following the outbreak of war in Ukraine last year, as well as issues such as rising economic nationalism and growing tensions between the West and China. WTW’s 2023 Political Risk Survey ... Read the full article
Lockton adds Peter Chesterfield to Real Estate & Construction team
18th April 2023
Independent insurance broker Lockton has announced the appointment of Peter Chesterfield as Senior Vice President in its Global Real Estate & Construction (GREAC) team. In this role, he will be tasked with maintaining and accelerating the growth of the Lockton GREAC practice, focussing on the division’s construction projects across international markets. Chesterfield ... Read the full article
Aon appoints Zakhary as CEO of Strategy & Technology Group
17th April 2023
Global professional services firm Aon has appointed Sherif Zakhary as Chief Executive Officer of its Strategy and Technology Group within Reinsurance Solutions, effective immediately. Based in New York, Zakhary will lead over 500 colleagues worldwide to accelerate the evolution of Aon’s insurance consulting capabilities. The role will also see him enable ... Read the full article
WTW adds Gregg Moons as Head of M&A for Benelux
17th April 2023
Global advisory, broking and solutions company WTW has announced the appointment of Gregg Moons as Head of Mergers & Acquisitions (M&A) for the Benelux region. Moons will have a regional role working from WTW’s offices in Amsterdam, Brussels and Rotterdam, working closely together with M&A teams in Europe. He will report into ... Read the full article
African Risk Capacity selects Gallagher Re as reinsurance broker
13th April 2023
Global broking and advisory firm Gallagher Re has been selected as the reinsurance broker and risk advisor for African Risk Capacity Limited (ARC), the specialist insurance company which provides parametric insurance cover to African countries against climate and disaster events. The appointment includes the placement of portfolio cover in the reinsurance ... Read the full article
Howden launches Marine & Energy business in Norway with WTW’s Frode Lund
13th April 2023
International insurance broker Howden has announced the launch of its Marine & Energy business in Norway, which is set to be led by WTW’s Frode Lund, who will assume the position from August 1, 2023. The new initiative is set to drive footprint for Howden within the region, and also represents ... Read the full article
Miller posts over £200m in 2022 revenues
13th April 2023
Specialist re/insurance broker Miller said it posted over £200 million in revenues in 2022, led by strong organic growth and the acquisition of two "high quality" businesses. Miller said it saw organic growth in the mid-teens delivered in 2022, with strong performance across all classes. Acquisitions of Henner Sports in France (now ... Read the full article
M&A boom continues amid economic uncertainty: Howden
13th April 2023
Howden M&A, the international M&A insurance broker, has reported that the “boom” in merger and acquisitions (M&A) activity continues to play out as deal makers look to take advantage of the uncertain economic environment. The broker’s M&A Insurance Claims Report analyses some of the key trends across the UK and Europe, ... Read the full article
Sarah Smith joins Aon Board of Directors
12th April 2023
Global professional services firm Aon has announced the appointment of Sarah E. Smith, a former member of the Management Committee of The Goldman Sachs Group, Inc., to its Board of Directors. Lester B. Knight, chair of Aon's board, has praised Smith’s experience and the skills she has gained through her career, ... Read the full article
J.B. Boda Viva Indonesia Reinsurance Brokers announces new CEO
12th April 2023
J.B. Boda Viva Indonesia Reinsurance Brokers has announced Ricky S. Natapradja as its new Chief Executive Officer. Natapradja is a market veteran with more than 20 years of experience working in the Asia Pacific Region, the majority of which has been in the Financial Services Industry. Read the full article
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