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.
European Commission clears Marsh-JLT takeover
25th March 2019
The previously-announced acquisition of Jardine Lloyd Thompson (JLT) by Marsh & McLennan Companies (MMC) has been approved by the European Commission. The Commission examined the proposed deal’s effect on competition in markets where the two companies' activities overlap. This includes the supply of insurance broking services for specialty sectors - such as ... Read the full article
Willis Re appoints new Head of London Market Reinsurance Claims
25th March 2019
Willis Re, the global reinsurance arm of broker Willis Towers Watson (WTW), has appointed claims veteran Steve Robson as Head of London Market Reinsurance Claims, effective today. Robson has 36 years of experience in the sector, and brings extensive client-side experience to the role, supporting the closer alignment of the servicing ... Read the full article
Re/insurers must rethink approach to tougher Asian market, says WTW
18th March 2019
Global insurance and reinsurance broker Willis Towers Watson (WTW) has underlined challenges for insurers in Asia, warning that the dominance of large and complex risks in the Asian commercial insurance segment is revealing that current business models are unsustainable. 2018 was an active year for catastrophe activity across Asia, with numerous ... Read the full article
David Ripton joins WTW to lead Broking, Global Marine, CRB
15th March 2019
Global insurance and reinsurance broker, Willis Towers Watson (WTW), has announced the appointment of David Ripton as Head of Broking, Global Marine in its Corporate Risk and Broking (CRB) unit. Ripton joins the firm from rival brokerage Marsh, where since 2014 he held the position of Chief Executive Officer (CEO) for ... Read the full article
Aon to offer AI, machine learning tools with new InsurTech partnership
14th March 2019
Global re/insurance broker Aon has struck a strategic alliance with Zesty.ai, an InsurTech startup which uses Artificial Intelligence (AI) and machine learning to process satellite imagery, data from aircraft, physical characteristics of properties, building permit data and energy consumption data in order to generate granular risk analysis of buildings and ... Read the full article
Willis Towers Watson names Head of Power and Utilities for CEEMEA region
14th March 2019
Global insurance and reinsurance broker Willis Towers Watson (WTW) has appointed Mark Hiles as Head of Power and Utilities for the Central and Eastern Europe, Middle East and Africa (CEEMEA) region. Hiles will be responsible for developing client solutions and driving business growth in the power and utilities sectors across the ... Read the full article
Hub International acquires The Insurance Exchange
14th March 2019
Chicago-based global insurance broker Hub International has announced the acquisition of The Insurance Exchange for an undisclosed consideration. Based in Rockville, Maryland, The Insurance Exchange is one of the largest independent insurance agencies in the Mid-Atlantic region. It provides solutions for employee benefits consulting, commercial property & casualty, loss control, bonding, risk ... Read the full article
BMS annual revenues exceed £100m
13th March 2019
Independent specialist re/insurance broker BMS has revealed that its annual revenues for the first time exceeded £100 million in 2018. Overall revenue grew by 25% while BMS’s London wholesale business posted 32% growth. BMS’s reinsurance division achieved an 18% revenue increase. “This remarkable result belongs to BMS staff, who have driven our ... Read the full article
Aon’s White Rock protected cell company expands to DC
12th March 2019
Insurance and reinsurance broker Aon has announced that its protected cell facilities under the White Rock Group have added a seventh domicile in the District of Columbia (DC), USA. White Rock established its first protected cell company in Guernsey in 1997 and currently manages 250 cells across Bermuda, Gibraltar, Guernsey, Isle ... Read the full article
U.S commercial insurance prices continue to rise in Q418, finds WTW
11th March 2019
A survey conducted by global re/insurance brokerage Willis Towers Watson (WTW) has found that U.S commercial insurance prices rose by just under 2% during the fourth quarter of 2018. WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS) compared prices charged on policies underwritten in Q418 to those charged for the same ... Read the full article
Chubb confirmed as lead insurer for Ethiopian Airlines crash, WTW as broker
11th March 2019
Reports have confirmed that Chubb was the lead underwriter on the account for the Ethiopian Airlines jet that crashed on 10 March, while Willis Towers Watson (WTW) acted as the insurance broker. A WTW spokeswoman revealed today that Chubb and WTW would be liable for losses resulting from the crash, which ... Read the full article
CRC Group partners with AMRISC on new Insurisk property products
11th March 2019
U.S wholesale broker CRC Group has partnered with sister company AMRISC, LLC to build, develop and underwrite property programs for CRC producers to distribute. The partnership will build products under the Insurisk name, which CRC announced as the new brand name for its exclusive products. The first new product, called Insurisk CAT+, ... Read the full article
Lockton forms reinsurance business, names leadership
8th March 2019
Re/insurance broker Lockton has moved to form a new global reinsurance business, Lockton Global Re. Lockton has stated that reinsurance is a critical pillar of its aggressive growth plan and this new business will, under the leadership of the firm’s Chief Executive Officer Ron Lockton, look to build out its current ... Read the full article
Marsh launches intellectual property solution
8th March 2019
Global re/insurance broker Marsh has launched an insurance solution specifically tailored to address risks associated with an organisation’s intellectual property (IP). IP Protect is a proprietary Marsh policy backed by Ambridge Partners, a managing general underwriter of transactional, complex management liability, and intellectual property insurance products. “As the importance of IP rights ... Read the full article
Marsh adds AIG’s Bauer to lead U.S Sharing Economy, Mobility Practice
7th March 2019
International re/insurance brokerage Marsh has appointed Robert Bauer to lead its U.S Sharing Economy & Mobility Practice. Bauer joins from AIG where he served as General Insurance Head of Innovation and its Sharing Economy Group. In his new role Bauer will focus on developing and delivering products and services to companies operating ... Read the full article
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