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.
Reinsurance market shift an opportunity to re-set profitability: JP Morgan
2nd February 2023
Analysts at JP Morgan have suggested that the reinsurance market shift is an opportunity for companies to re-set profitability and rebuild buffers. JP Morgan's analysts state that additional exposure growth on top is a bonus, though this is not something that the firm is looking out for. They write, "For the first ... Read the full article
US property cat reinsurance rates-on-line up 30.1% at January renewals: Guy Carpenter
2nd February 2023
The Guy Carpenter U.S. Property Catastrophe Rate on Line Index increased by a significant 30.1% at the January 2023 reinsurance renewals, taking rates to an all-time high, according to the latest data from the global reinsurance broker. Guy Carpenter, which is Marsh McLennan's reinsurance broking arm, has been ... Read the full article
Insurtech funding slumps by 57% in Q4: Gallagher Re
2nd February 2023
New data from reinsurance broker Gallagher Re shows that global insurtech investment declined by 57.0% to $1.01 billion in the fourth quarter of 2022, when compared with the previous quarter. According to the broker’s Global InsurTech Report, this means that insurtech funding is at its lowest quarterly point since Q1 2020. The ... Read the full article
Lockton appoints Ryan Willis to its UK Commercial Wholesale team
2nd February 2023
Independent insurance broker, Lockton has appointed Ryan Willis as Existing Business Team Manager within its Commercial Wholesale team, with immediate effect. In his new role, Willis will be responsible for leading and motivating the Wholesale Existing Business team. He will oversee the day-to-day operations and performance of the team, communicating the ... Read the full article
Cole Wagner joins Newfront from Marsh as US growth Leader
1st February 2023
San Francisco-based insurance broker Newfront has named Cole Wagner as US Growth Leader and Executive Vice President. Wagner holds more than two decades of experience building high-performing teams and developing successful marketplace strategies. He joins Newfront from Marsh, where he was most recently the Central Zone Growth Leader, overseeing 18 offices throughout ... Read the full article
Insurance brokers begin 2023 on sound footing: S&P
1st February 2023
Analysts at S&P Global Ratings have suggested that insurance brokers & service providers have started 2023 on sound footing despite the looming recession and tightening financial conditions. The rating agency's sector view for global insurance services is largely stable, reflecting resilient industry fundamentals for most subsectors. S&P expects limited rating changes ... Read the full article
Optio Group’s Dubai-based MGA and A&H reinsurance broker commences trading
31st January 2023
Specialty MGA Optio Group's recently established Dubai-based MGA and Accident and Health (A&H) reinsurance broker, Optio Re MENA Ltd., has now commenced trading following the receipt of required approvals from UAE regulatory authorities. By drawing on the wider group's specialty expertise, the new operation will, over time, expand to include PVT, ... Read the full article
Consilium appoints International Casualty Broker
31st January 2023
Consilium, the global speciality re/insurance broking business of the Aventum Group, has announced the appointment of Matthew Gould as Associate Partner placing International Casualty. Formerly a broker at Zeus, Gould brings experience in placing specialist and complex Canadian, Australian and US construction liability risks in the London market. His background covers both ... Read the full article
WTW launches new cyber facility CyXS
31st January 2023
Broking and solutions company, WTW has launched CyXS, a new cyber facility that aims to provide capacity and efficiency for its clients around the world. Key elements of the facility include access to up to 50m (USD/ GBP/ EUR) of excess layer capacity which can be deployed with complete flexibility anywhere ... Read the full article
Reinsurers had the upper hand at January cat renewals: Guy Carpenter’s Klisura
30th January 2023
Dean Klisura, President and CEO of Guy Carpenter, the reinsurance arm of Marsh Mclennan, has suggested that reinsurers had the upper hand at the January cat renewals. The quote comes from Marsh McLennan's Q4 2022 earnings call, in which Klisura was questioned about changes in client behaviour at the renewals. He said, ... Read the full article
Miller hires Matthew Keeping as Head of P&C
30th January 2023
Specialist re/insurance broker, Miller has appointed Matthew Keeping as Head of Property & Casualty (P&C), where he will report to Tim Norman, Managing Director, Miller UK. He succeeds Mike Papworth who was recently appointed to the new dual role of Managing Director of Miller International and Chairman of P&C, following ... Read the full article
Global insured losses from natural catastrophes in 2022 seen at $140bn by Gallagher Re
30th January 2023
For the fifth year since 2017, insurance and reinsurance industry losses from natural catastrophe events exceeded the $100 billion threshold in 2022 at a huge $140 billion, reports reinsurance broker Gallagher Re. The broker's 2022 Natural Catastrophe report, published today, notes another year of complex natural disaster events in 2022, which ... Read the full article
AJ Gallagher’s brokerage & risk management units post 16% organic revenue growth in Q4
27th January 2023
Global insurance and reinsurance broker, Arthur J. Gallagher & Co., has reported adjusted net earnings of $367.9 million for the fourth quarter of 2022 within its brokerage operations, which alongside higher earnings in its risk management segment, more than offset an elevated loss within the corporate division. Company-wide, adjusted net earnings ... Read the full article
Miller forms new structure to support UK & international growth
27th January 2023
Specialist re/insurance broker Miller has announced the re-alignment of its business into two divisions, Miller UK and Miller International. The firm states that Miller International, which launched at the beginning of 2023, will oversee all activity across Miller’s global offices, supporting its ambitions for continued expansion. Meanwhile, Miller UK, which came into ... Read the full article
Lockton launches Sweden office to expand Nordic footprint
27th January 2023
Insurance broker Lockton has announced the opening of a new office in Stockholm, Sweden, as part of the firms expanding proposition to clients in the region. Lockton stated that the office is expected to be operational by the end of January, following the arrival of two key hires and industry experts, ... Read the full article