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.
A J Gallagher reports solid revenue growth in 2019
26th July 2019
Arthur J. Gallagher & Co. has reported its results for the second-quarter of 2019, posting solid revenue growth and improved net earnings in its brokerage segment. Revenues increased from $1 billion in Q2 2018 to $1.13 billion in Q2 2019, while organic revenues also increased year-on-year, to $1.01 billion. The firm's ... Read the full article
Aon increases revenue to $2.6bn in Q2, driven by reinsurance growth
26th July 2019
Aon has released its results for the second quarter of 2019, which show a 2% increase in the broker’s total revenue, partly driven by significant growth in its Reinsurance Solutions segment. Overall revenue increased by $45 million to $2.606 billion, boosted by an 11% increase in the revenue of Aon’s reinsurance ... Read the full article
Aon partners with insurtech Bunker to target on-demand economy
26th July 2019
Aon has entered into a new commercial partnership with Bunker, a business insurance and compliance platform for independent workers and enterprises, to target the growing on-demand, sharing economy. The agreement provides Aon and its clients with access to Bunker’s compliance platform and Live Certificate of Insurance, which ensures an organisation’s contractors, ... Read the full article
New InsurTech investments hit $1.4 billion in Q2: Willis Towers Watson
25th July 2019
Total new InsurTech funding commitments exceeded $1.2 billion for the fourth consecutive quarter in Q2 2019, as 69 deals with a total value of $1.41 billion were announced in the period, according to insurance and reinsurance broker, Willis Towers Watson (WTW). The broker's latest quarterly InsurTech report highlights a buoyant investment ... Read the full article
H1 insured cat losses hit 12-year low at $20bn: Aon
25th July 2019
Insured catastrophe losses totalled just $20 billion during the first half of 2019, marking the lowest level of average losses since 2006, according to re/insurance broker Aon. Industry losses were 45% below the 10-year average of $28 billion and 26% lower than the 21st Century average of $25 million, but still ... Read the full article
PSC Group to purchase Lloyd’s broker Paragon for £42m
25th July 2019
Australia-based PSC Insurance Group has announced the acquisition of Paragon International, a Lloyd’s and London market broker, for a base consideration of £42 million. To fund the placement, PSC has completed an institutional share placement of 13,461,538 additional shares at a price of $2.60 per share, raising total gross proceeds of ... Read the full article
Aon targets reduced workers’ comp claim costs via AI
24th July 2019
Global insurance and reinsurance brokerage Aon has taken steps to reduce workers' compensation litigation costs via the expansion of its strategic relationship with CLARA analytics, a provider of artificial intelligence (AI) technology in the commercial insurance space. Aon's Casualty Laser Diagnostic tool reveals that attorney involvement on a workers' comp claim ... Read the full article
Broker consolidation an opportunity for Beazley, says Layton
24th July 2019
Beazley’s global head of broker relations and marketing Lou Ann Layton has spoken of the opportunities inherent to an “undeniable” trend of consolidation currently sweeping the brokerage community. “While some people look at broker consolidation as a threat to the industry, or the underwriting community, Beazley sees it as an opportunity,” ... Read the full article
Aon promotes Barrett to Regional Managing Director role
22nd July 2019
Global re/insurance brokerage Aon has confirmed the appointment of Vincent Barrett as Regional Managing Director EMEA for its Captive & Insurance Management business. Barrett has been with Aon for over a decade and will move from his previous role as Chief Commercial Officer to assume responsibility for leading the group’s regional ... Read the full article
Acrisure to increase senior notes offering to $400m
22nd July 2019
US insurance brokerage Acrisure intends to increase its previously-announced offering of senior notes from $300 million to $400 million. The company had said it intended to use the net proceeds from the offering to fund acquisitions and to pay related fees and expenses. The notes are expected to be issued at ... Read the full article
Marsh & McLennan Board elects Tamara Ingram as a director
19th July 2019
The Board of Directors of global re/insurance brokerage Marsh & McLennan Companies, Inc. has elected Tamara Ingram as a director. The appointment is effective July 19th, 2019 and takes the number of directors on the Board to 13. Ingram currently serves as Global Chairman at Wunderman Thompson, a data and technology agency ... Read the full article
Lockton hires Dagostino from Willis Towers Watson to lead Global Cyber & Tech unit
18th July 2019
Global re/insurance brokerage Lockton has appointed cyber risk expert Anthony Dagostino as Executive Vice President (EVP), Global Cyber and Technology Practice leader. Dagostino most recently served as global head of cyber risk consulting and insurance at broker Willis Towers Watson (WTW), and brings more than 15 years of cyber risk management ... Read the full article
Ritson and Draper join AFL from UIB as Directors of International Property and Energy
18th July 2019
Lloyd's of London brokerage AFL Insurance Brokers Ltd has hired Mark Ritson and Peter Draper from United Insurance Brokers Limited (UIB) as Directors of International Property and Energy. Combined, the pair bring more than 50 years of industry experience to AFL. Ritson most recently served as Executive Director of the Non-Marine Division ... Read the full article
Jennifer D’Arcy joins Ed as EVP, Head of Facultative Reinsurance
18th July 2019
Jennifer D'Arcy has joined global reinsurance brokerage Ed as Executive Vice President (EVP) and Head of Facultative Reinsurance, reporting to Chief Executive Officer (CEO) of Ed's reinsurance broking business, Kieran Angelini-Hurll. She joins the global broker from Price Forbes, where she most recently served as Executive Director, Head of Cargo Reinsurance. ... Read the full article
WTW adds Marsh trio to Financial Institutions business
18th July 2019
Global re/insurance brokerage Willis Towers Watson has announced a series of additions across its financial institutions business in Canada. All three appointees have been picked up from Marsh, will be based in Toronto and report to Allison Barrett, Global Head of FINEX FI, and John Haas, Head of Corporate Risk and ... Read the full article