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.
JLT reports organic growth across all divisions in 2018
26th February 2019
Global insurance and reinsurance broker, JLT Group recorded organic revenue growth across all divisions year-on-year, leading to a 21% rise in trading profit in 2018. In light of JLT's takeover by MMC, expected to close in spring of this year, the firm has released preliminary financial results for 2018, which includes ... Read the full article
Global property & FinPro lines drive Q4 commercial insurance price increases: Marsh
25th February 2019
Global commercial insurance pricing increased by an average of 2% in the final quarter of last year, driven mostly by increases in global property and financial and professional (FinPro) lines, according to international re/insurance broker Marsh. The market remained stable overall, says Marsh, and the 2% average increase in the fourth-quarter ... Read the full article
Aon expands restructuring plan, estimates additional job losses
25th February 2019
Insurance and reinsurance broker Aon's global Restructuring Plan, initiated in 2017, is now expected to result in estimated job losses of between 4,800 to 5,400, which is up 12% from the 4,200 to 4,800 expected job eliminations announced in early 2018. The updated range was announced in the global broker's most ... Read the full article
Value of InsurTech deals up by 155% in Q4: Willis Towers Watson
25th February 2019
Global insurance and reinsurance broker, Willis Towers Watson, has said that the number of InsurTech deals announced globally in Q4 2018 increased by 24% to 63, with a total value of $1.59 billion, which is growth of 155% on the same period in 2017. This is according to the broker's Quarterly ... Read the full article
WTW adds Chubb’s Ben Dunston as Head of Broking in Asia
22nd February 2019
Global re/insurance brokerage Willis Towers Watson (WTW) has announced the appointment of Ben Dunston as Head of Broking in Asia, effective March. Dunston was previously the Head of Marine at Chubb Insurance Company, Singapore. Prior to that he held key leadership positions, including at Chubb Syndicate London and Pembroke Managing Agency London. “With ... Read the full article
THB bolsters board with four senior appointments
22nd February 2019
Specialist insurance and reinsurance broker THB Group has made four senior board appointments including Kay Smith, who joins as Group Chief Financial Officer. Smith takes over from Rob Wilkinson, who transitions to commercial director. Smith has held a number of senior financial positions in the insurance broking sector, most recently at Arthur ... Read the full article
Aquiline Capital announces takeover of broker Relation Insurance Services
22nd February 2019
Aquiline Capital Partners LLC, a private equity firm that invests in financial services and technology, has announced that it's to acquire U.S. independent insurance brokerage Relation Insurance Services from private equity firms Parthenon Capital and Century Equity Partners. Founded in 2007, Relation Insurance specialises in numerous industries, including agribusiness, education, employee ... Read the full article
Brokerslink adds regional manager for Europe
22nd February 2019
Global broking network Brokerslink has announced the appointment of Christos Gavriel as regional manager for Europe. Gavriel currently serves as Managing Broker for Renaissance Insurance Brokers, a leading independent corporate insurance brokerage in Cyprus he established in 2008. Previously, he worked as Regional Property Underwriting Manager Middle East, Mediterranean, South Asia at ... Read the full article
GTCR acquires broker AssuredPartners from Apax VIII
21st February 2019
Apax VIII is to sell its entire stake in U.S. insurance brokerage AssuredPartners to an investor group led by Chicago-based GTCR, which actually owned the broker from its inception in 2011 before its sale to Apax VIII in 2015. The deal reunites previous backer GTCR with AssuredPartners roughly four years after ... Read the full article
Irma loss creep & AOB costs to drive up primary rates in Florida, says COIN Re
21st February 2019
Unprecedented levels of loss creep stemming from Hurricane Irma, as well as costs related to loss adjustment expenses and assignment of benefits (AOB) lawsuits, are likely to drive up insurance rates for Florida homeowners, according to reinsurance broker COIN Re. Analysts at the Florida-based broker, which was launched in October ... Read the full article
David Gregori to lead Willis Re’s new Asia Pacific agriculture team
20th February 2019
Willis Re, the reinsurance arm of global insurance broker Willis Towers Watson, has launched a new Agriculture team for the Asia Pacific region and appointed David Gregori to lead it. As Head of Agriculture for Asia Pacific, Gregori will lead a team based in Hong Kong to support clients and partners ... Read the full article
FCA concludes wholesale broker study, finding no competition concerns
20th February 2019
The Financial Conduct Authority (FCA) has concluded its investigation into the London wholesale broker market, finding no evidence of competition concerns in the sector. The UK financial regulatory body launched its study in November 2017 to assess how effectively competition is working in the wholesale broker market. “Overall, the FCA has not ... Read the full article
Aon highlights greatest cyber security challenges for businesses
14th February 2019
Global insurance and reinsurance broker Aon has published a new report that details the greatest cyber security threats and challenges to organisations in 2019, highlighting both the significant opportunities and risks that new technologies bring. The 2019 Cyber Security Risk Report identified eight key areas where business are likely to face ... Read the full article
Ryan Specialty Group to acquire wholesale broker Westphalen
14th February 2019
Ryan Specialty Group has agreed to acquire the assets and operations of Westphalen Insurance Services Inc., an independently owned wholesale insurance brokerage located in Edmond, Oklahoma. The Westphalen team will become part of R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group, and will establish the company’s presence in Oklahoma. Founded ... Read the full article
Lambrou appointed Global CEO of Commercial Risk Solutions, Aon
11th February 2019
Global insurance and reinsurance broker, Aon, has named veteran Aon leader, Lambros Lambrou as Global Chief Executive Officer (CEO) of its Commercial Risk Solutions division. According to the broker, this appointment is another significant step to realise the full potential of its Aon United growth strategy. Lambrou replaces Mike O'Connor as CEO ... Read the full article
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