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.
Jacinta Karita named Group Chairperson of Africa’s Pacific Insurance & FirstRe
31st July 2019
The Board of Directors of Pacific Insurance Brokers (EA) Limited and First Reinsurance Brokers Africa Limited (FirstRe), have announced the appointment of experienced insurance and reinsurance professional, Jacinta Karita, as the new Group Chairperson, effective July 23rd, 2019. She brings more than 33 years' experience in the insurance and reinsurance sector, ... Read the full article
A J Gallagher acquires broker Gillis, Ellis & Baker
30th July 2019
Commercial retail property/casualty broker, Gillis, Ellis & Baker, Inc. has been acquired by global insurance brokerage, Arthur J. Gallagher & Co (A J Gallagher). The New Orleans-based Gillis, Ellis & Baker also offers personal lines and employee benefit services across the Southeastern U.S. Following the acquisition, R. Parke Ellis, W. Anderson Baker ... Read the full article
Marsh & McLennan’s revenue up 16% to $4.3 billion in Q2
30th July 2019
Global insurance and reinsurance broker, Marsh & McLennan Companies, Inc. (MMC), has reported consolidated revenue growth of 16% to $4.3 billion and underlying revenue growth of 4% for Q2 2019, which is the first time its results have included JLT, which it acquired for $5.6 billion. Underlying revenue growth of 4% ... Read the full article
Willis Towers Watson appoints Peter Foster to lead global cyber team
29th July 2019
Global insurance and reinsurance broker Willis Towers Watson (WTW) has announced that Peter Foster has been appointed Chairman of Global FINEX Cyber and Cyber Risk Solutions. He has been with the broker for more than 14 years and WTW says that he has been instrumental in the development of its global ... Read the full article
Marsh appoints Ian Drillot as Head of Guernsey Captive Operations
29th July 2019
Global re/insurance broker Marsh has announced the appointment of Ian Drillot as Head of Office, Marsh Captive Solutions, Guernsey. Drillot was previously Head of JLT’s Guernsey captive office, before which he was an accountant with Deloitte. As Head of Office, Drillot will oversee the continued development and expansion of Marsh’s Captive Solutions’ ... Read the full article
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
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
