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.
Alliant hires William Callahan from Willis Towers Watson
19th December 2018
Alliant Insurance Services, the U.S specialty insurance brokerage firm, has hired Willis Towers Watson’s (WTW) William Callahan as Senior Vice President. Callahan has spent the previous two decades at WTW, where he also served as Senior Vice President in the broker’s New York office. He has more than 30 years’ experience in ... Read the full article
Russia’s state-backed RNRC cuts brokerage deal with local Aon subsidiary: Reuters
18th December 2018
The Russian National Reinsurance Company (RNRC), which was created to reinsure Russian firms under Western sanctions, has signed a one-year deal with a local subsidiary of Aon that allows the RNRC to reinsure risks of up to $149 million, according to Reuters. RNRC boss Nikolay Galushin has said the deal with ... Read the full article
U.S Treasury eases FATCA regulations on P&C premiums, LIIBA responds
18th December 2018
The Chief Executive Officer of the London and International Insurance Brokers’ Association (LIIBA), Christopher Croft, has welcomed new regulations from the US Internal Revenue Service (IRS) and Department of the Treasury to reduce the burden of complying with FATCA (Foreign Account Tax Compliance Act). FATCA in its original form essentially requires ... Read the full article
EPIC Holdings to acquire U.S operations of Integro
18th December 2018
EPIC Holdings, Inc. has announced that it plans to acquire Integro Holdings Inc., the company that houses all the U.S operations of international re/insurance broker and risk management firm Integro Group Holdings, LP. The transaction, which is expected to close in January 2019, will see EPIC benefit from the addition of ... Read the full article
JLT Re (North America), Pact Insurance announce insurtech partnership
17th December 2018
The North American arm of JLT Re has partnered with Pact Insurance, a personal auto Insurtech company, to create a digital insurance solution that covers established and emerging mobility risks. Ed Hochberg, Chief Executive Officer of JLT Re (North America) said the partnership is a testament to the unique and highly ... Read the full article
Willis Towers Watson responds to outcome of IASB’s IFRS 17 discussions
17th December 2018
The risk advisory and broking firm Willis Towers Watson (WTW) has issued a response to the outcome of the International Accounting Standards Board’s (IASB) discussions regarding potential amendments to IFRS 17, the global accounting standard for insurance contracts, originally scheduled to become effective from 2021. In October 2018 the IASB identified ... Read the full article
BMS adds George Bowring and Kian Wookey to Bermuda team
17th December 2018
Independent specialist re/insurance broker BMS Group has expanded its Bermuda market operations with the appointments of George Bowring from Price Forbes and Kian Wookey from JLT. The new hires come as part of a build out of BMS’s Bermuda operations and will focus on North American liability and property, respectively. Bowring most ... Read the full article
TigerRisk to adopt AIR’s cyber risk modelling platform
14th December 2018
Reinsurance brokerage, risk and capital strategic advisory firm TigerRisk Partners LLC has announced that it plans to adopt catastrophe risk modeller AIR Worldwide’s cyber risk analytics platform, ARC. TigerRisk intends to grow its cyber risk reinsurance offering using the platform, which is designed to inform risk selection, pricing, portfolio management and ... Read the full article
WTW adds Bill Creedon as Construction Industry leader, North America
14th December 2018
Global re/insurance broker Willis Towers Watson has announced the appointment of Bill Creedon as Construction Industry leader, North America, within its Corporate Risk and Broking segment. Creedon holds 30 years’ experience in the insurance and construction risk industry and has previously spent 20 years with WTW in a range of national ... Read the full article
Steady rise in PPL adoption among brokers, finds LIIBA
14th December 2018
Adoption of the London Market Group’s (LMG) Placing Platform Limited (PPL) has increased significantly among brokers over 2018, according to new data from the Board of the London and International Insurance Brokers Association (LIIBA). The number of risks bound by brokers on the electronic placing platform rose by around 350% over ... Read the full article
Bulk annuities to reach £30bn in 2019: Willis Towers Watson
13th December 2018
The bulk annuity market in 2019 is set to show further strong growth, with deals expected to top £30 billion over the course of the year, according to Willis Towers Watson. Key themes the firm has said to look out for in 2019 include a doubling to over £10 billion in ... Read the full article
U.S commercial insurance prices continue to rise over Q3, finds WTW
12th December 2018
Commercial insurance prices in the U.S increased by 2% over the third quarter of 2018, according to re/insurance broker Willis Towers Watson’s (WTW) Commercial Lines Insurance Pricing Survey (CLIPS). The survey established that prices rose materially in commercial auto, commercial property and excess/umbrella liability for a second consecutive quarter. Price changes ... Read the full article
COIN Re appoints Andy Crichton as Executive Vice President
11th December 2018
Property catastrophe-focused reinsurance broker COIN Re has announced the appointment of Andy Crichton as Executive Vice President, effective 7 December 2018. Crichton will be based in London and will manage COIN Re’s reinsurance marketing and placement strategy. “We are delighted to have Andy on board,” said COIN Re Chief Executive Officer Ted ... Read the full article
WTW launches latest version of Radar software platform
11th December 2018
Willis Towers Watson has announced the launch of the latest version of its Radar software, a platform of products for property and casualty (P&C) insurer pricing teams, including actuaries and underwriters. WTW says Radar 4.2 gives insurers a future-proofed solution designed to achieve agile, sophisticated pricing, and a new level of ... Read the full article
WTW makes senior appointments to London Market P&C arm
11th December 2018
Global insurance and reinsurance broker Willis Towers Watson (WTW) has announced the appointments of Tom Rowley as Senior Vice President (SVP) for North American Property and Matt Harvey as SVP for International Property. Both appointments will sit within the Property & Casualty (P&C) Centre of Excellence (CoE), which is responsible for ... Read the full article