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.
WTW launches claims benchmarking solution
15th November 2018
Global re/insurance broker Willis Towers Watson has announced the launch of Claim Metrics, a bespoke claims benchmarking solution for UK personal lines insurers. WTW says the service provides claims leaders with a tool for identifying performance improvements, as well as offering underwriters, pricing teams, actuaries and senior management vital insights into profitability ... Read the full article
BMS appoints Price Forbes’ Duncan Hayward as energy division Director
13th November 2018
Independent specialist re/insurance broker BMS Group Limited has announced the appointment of Duncan Hayward as a Director in its energy division, effective 2019. Hayward, who will lead the casualty initiative within the division, joins with 14 years’ experience in the insurance market, most recently serving as a Divisional Director at Price ... Read the full article
JLT Re Iberia launched after broker buys out Banca March partnership
13th November 2018
JLT Re, the reinsurance broking arm of JLT Group, has reinforced its connection with clients in the Latin America region with the launch of JLT Re Iberia through the acquisition of JLT March Re. Reinsurance broker JLT Re has further invested in its European platform with the launch of JLT Re ... Read the full article
Brown & Brown acquires Rodman Insurance Agency
13th November 2018
Insurance brokerage Brown & Brown, Inc. has announced that it has acquired substantially all of the assets of Rodman Insurance Agency, Inc., a specialist provider of property and casualty insurance solutions and services to the commercial sector. The deal was announced by Brown and Brown's Chief Acquisitions Officer, Scott Penny, and ... Read the full article
Alesco appoints Jonathan Smith Managing Partner, Energy
13th November 2018
Specialist insurance and risk management broker, Alesco Risk Management Services, has named Jonathan Smith as Managing Partner of Energy, effective November 12th 2019. He has 36 years of industry experience and joins the firm from broker RK Harrison, where he was most recently Executive Director - Head of Upstream, after joining ... Read the full article
Capsicum Re adds two to London property and specialty division
12th November 2018
Specialist reinsurance broker Capsicum Re has appointed Ed Le Flufy and Piers English to its London property and specialty division. Le Flufy joins Capsicum Re from BMS as a specialty broker focusing on cyber, and will now report to Ian Newman, Capsicum Re’s Global Head of Cyber. He has more than a ... Read the full article
Miller Insurance Services makes series of appointments
12th November 2018
Miller Insurance Services LLP, a London wholesale and specialist insurance and reinsurance broker, has bolstered its partnership with a series of new appointments. These include the internal appointments of James Hands, Charles Lane, Phil Wheeler, Martin Henderson and Ben Speers as equity holding Partners, and the appointments of Michael Lee and ... Read the full article
Willis Towers Watson extends pricing software to telematics start-up Ticker
12th November 2018
Global insurance and reinsurance broker Willis Towers Watson (WTW) is supplying the latest version of its Radar pricing software to Ticker, a new telematics insurer due to launch in early 2019. WTW said that its Radar Live and Radar Base solutions will enable Ticker to deliver more accurate decisions in pricing ... Read the full article
BMS builds Australia presence with senior hires from Gallagher
8th November 2018
Independent specialist insurance and reinsurance broker BMS Group Limited has expanded its operations in Australia with the appointments of Stuart Davies as a Director and Samantha Ford as a Corporate Broker. Davies has 25 years’ experience in the UK and Australia re/insurance markets and joins BMS Australia from Gallagher, where he ... Read the full article
Insured losses from Hurricane Michael likely to reach $8bn, says Aon
8th November 2018
The latest Global Catastrophe Recap report from re/insurance broker Aon has estimated that total economic losses from Hurricane Michael will exceed US $15 billion, with public and private re/insurers likely to incur pay-outs of at least $8 billion. Aon’s Impact Forecasting team based their estimate on both physical damage and net ... Read the full article
Brokers’ cost model is not sustainable, says Ed CEO Steve Hearn
7th November 2018
Brokers have an essential role in the value chain and there are huge opportunities for intermediaries going forward, but seizing them will require companies to rethink unsustainable cost models and commission fees, according to Steve Hearn, CEO of global re/insurance broker Ed. Speaking during a presentation at Lloyd’s of London, Hearn ... Read the full article
AIG completes acquisition of Glatfelter Insurance Group
7th November 2018
Global insurer American International Group (AIG) has completed its acquisition of full-service broker and insurance company Glatfelter Insurance Group. The transaction, which was first announced in September 2018, has closed following receipt of regulatory approvals and satisfaction of other closing conditions. AIG said that it plans to utilise Glatfelter’s specialty programs ... Read the full article
Gallagher acquires UK property broker Vasek Insurance
7th November 2018
Gallagher, the global re/insurance brokerage and risk management services firm, has acquired a controlling interest in Purple Bridge Group Limited, the holding company of UK specialist property insurance provider Vasek Insurance Services Limited. The deal includes Vasek’s appointed representative Insurance My Villa, as well subsidiary brands including Unoccupied Direct, although no ... Read the full article
Argo broker survey identifies most pressing re/insurance shortfalls
6th November 2018
A survey of brokers and the small and medium-sized businesses (SMEs) they serve, conducted by global specialty re/insurer Argo Group International Holdings, Ltd., has identified cybercrime, climate change, and talent retention as among the areas where re/insurance is most likely to fall behind. For example, Argo found that 71% of brokers ... Read the full article
Aon, Etherisc and Oxfam partner on joint micro-insurance program in Sri Lanka
2nd November 2018
Re/insurance broker Aon is collaborating with Oxfam and InsurTech firm Etherisc on a joint program to deliver micro-insurance to small holder paddy field farmers in Sri Lanka using blockchain technology. The parties plan to leverage blockchain to automate parametric insurance products, which will simplify the claims process and remove the need ... Read the full article