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.
Arthur J. Gallagher acquires Stonehenge Insurance
11th July 2019
Global insurance brokerage Arthur J. Gallagher & Co. has acquired Florida-based Stonehenge Insurance Solutions, terms of the transaction were not disclosed. Stonehenge offers commercial insurance products and consulting services to Professional Employer Organizations (PEOs) and staffing clients throughout the US. The company’s leadership team, Jeff Rendel, Troy Reynolds, Chris O'Connor and their ... Read the full article
Hub International acquires the Crichton Group
10th July 2019
Chicago-based global insurance brokerage Hub International has announced the purchase of The Crichton Group (TCG). TCG is an independent, full-service commercial, employee benefits and personal lines agency based in Nashville, Tennessee. With this acquisition, Hub intends to create a new regional Hub to be called Hub Mid-South, which will include Hub's existing ... Read the full article
Traditional sector drives rebound in global reinsurance capital: Aon
9th July 2019
Global, dedicated reinsurance capital increased by 3% in the first-quarter of 2019 to $605 billion, driven by growth in the traditional sector which more than offset a decline in alternative reinsurance capital, according to insurance and reinsurance broker, Aon. According to the broker's Reinsurance Market Outlook report, from the end of ... Read the full article
Aon launches new IFRS 17 solution on capital modelling platform
9th July 2019
Re/insurance broker Aon has launched a new solution for International Financial Reporting Standard 17 (IFRS) on its ReMetrica capital modelling platform, which aims to help insurers fulfil their reporting obligations. According to Aon’s analysis, over 1000 re/insurers worldwide are implementing IFRS 17, issued by the International Accounting Standards Board, to implement ... Read the full article
Insurers are showing increasing levels of optimism: Survey
5th July 2019
The quarterly, June 2019 Financial Services Survey from CBI and PwC reveals that insurance companies are increasingly optimistic in light of opportunities to improve customer service and to capitalise on merger and acquisition (M&A) deals. The latest quarterly survey from the pair was conducted between May 14th and June 17th, and ... Read the full article
Miller recruits Taurai Ushe as Head of Business Development for UK Professions
4th July 2019
Global re/insurance broker Miller has bolstered its Professions team with the appointment of Taurai Ushe as Head of Business Development, UK Professions. Ushe has 15 years’ experience in developing new business opportunities and sourcing insurance solutions for UK companies in the professional services sector. He began his career at Allianz in 2004 ... Read the full article
Hub International acquires Berk Bilgen Insurance
4th July 2019
Chicago-based global insurance broker Hub International has announced the acquisition of Berk Bilgen Insurance (BBI). BBI is an independent insurance brokerage based in Edmonton, Alberta, Canada, offering personal and commercial insurance solutions, including home, auto, life and travel. Within 10 years, BBI has grown considerably under the leadership of Berk and Heather ... Read the full article
Continued, accelerated cyber risk growth expected in the captive market: Aon
3rd July 2019
It's estimated that more than a third of all captives will be underwriting cyber risk in five years' time, underpinned by accelerated premium growth for cyber risks in the global captives market, according to insurance and reinsurance broker, Aon. A recent survey and accompanying report from Aon, discusses current trends in ... Read the full article
Alliant joins Brokerslink network
3rd July 2019
Alliant Insurance Services, the U.S specialty insurance brokerage firm, has announced that it has become a partner of Brokerslink, the independent broker network. The move follows Alliant’s acquisition of New York-based Crystal & Company in April, a firm with more than 450 staff and 11 offices in the U.S. Alliant, which will ... Read the full article
Aon secures eighth bulk annuities purchase across Smiths Group pension schemes
3rd July 2019
Global re/insurance brokerage Aon has now secured eight bulk annuities across the Smiths Group's two pension schemes, totalling approximately £1.6 billion. The £3 billion Smiths Industries Pensions scheme has secured its eighth bulk annuity purchase and its second with Canada Life. The new £176 million bulk annuity is part of a ... Read the full article
Miller adds Skuld’s Neale to energy fac team
3rd July 2019
Global re/insurance broker Miller has announced the appointment of Simon Neale, a move that grows the firm’s global energy facultative reinsurance offering. Neale, who joins from Skuld, has over 20 years’ experience working with a number of insurers and brokers, as well as developing energy re/insurance business and managing large teams. He ... Read the full article
USI Insurance Services completes acquisition of U.S. Risk
2nd July 2019
USI Insurance Services (UCI) has completed its previously announced acquisition of U.S. domiciled brokerage, U.S. Risk Insurance Group. The terms of the transaction were not disclosed, but it's been revealed that U.S. Risk will keep its Dallas headquarters and will continue to operate independently under its existing brands, U.S. Risk, Oxford, ... Read the full article
Reinsurers see “tangible pricing momentum” at July renewals: Willis Re
1st July 2019
After a hesitant start to the year, reinsurers have experienced “tangible pricing momentum" at the mid-year renewals, according to Willis Re, although improvements are falling short of those seen in the primary markets. The broker’s 1st View report observed reinsurance pricing increases across most territories at the July renewals, with some ... Read the full article
RT Specialty adds Matt Bernal to Property Practice Group in San Francisco
1st July 2019
RT Specialty, a subsidiary of Ryan Specialty Group, has appointed Matt Bernal as a Vice President in its Property Practice Group, based in San Francisco. He joins RT Specialty from Hiscox, where he most recently managed property lines for all the company’s territories outside the Southeast. While at Hiscox, Bernal focused on ... Read the full article
Aon & Oxfam launch blockchain-based insurance for farmers in Sri Lanka
1st July 2019
Re/insurance broker Aon has partnered with Oxfam and insurtech firm Etherisc to launch a blockchain-based insurance platform for smallholder farmers in Sri Lanka. Nearly 200 farmers have been enrolled in the solution, which aims to deliver micro-insurance for paddy field farmers who are at risk of losing their crops due to ... Read the full article
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