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.
MacColl joins JLT Re from Guy Carpenter as Head of Credit and Surety, NA
16th July 2018
JLT Re (North America), a subsidiary of the global provider of reinsurance broking and consultancy, has appointed Scott MacColl as Head of Credit and Surety for North America. In addition to his role in North America, MacColl is expected to work closely with global teams to help build out the Credit ... Read the full article
Lockton adds Brian Horwell to Financial Institutions team
16th July 2018
Global insurance and reinsurance broker Lockton has continued to expand its Financial Institutions team with the appointment of Brian Horwell as a Producer. Horwell has over 30 years’ industry experience and joins Lockton from Willis Towers Watson, where he most recently served as head of its wealth and asset management team. Prior ... Read the full article
LIIBA sets up delegated authority working group on TOM impacts
13th July 2018
The London and International Insurance Brokers Association (LIIBA) has set up a new working group, called the Broker and Delegated Authority Working Group (BDAWG), which will focus on the work of the London Target Operating Model (TOM) and its impact on binders and line slips. The BDAWG will be part of ... Read the full article
Willis launches CyCon, a new cyber solution for the construction industry
13th July 2018
Re/insurance broker Willis Towers Watson has announced the launch of its CyCon cyber insurance solution, having concluding that cyber attacks and the failure of IT systems rank among the top risks facing the construction industry. While the construction sector has continued to embrace and integrate more sophisticated technologies for project design, ... Read the full article
Danny Gluszkiewicz joins BMS as a director of Australian operations
13th July 2018
Specialist insurance and reinsurance broker BMS Group Limited has announced the hiring of Danny Gluszkiewicz within its Australia team, as a Director of the Australian operations, effective August, 2018. He will be based in Brisbane, and will form part of BMS Australia's national team, reporting to BMS Australia Chief Executive Officer (CEO), ... Read the full article
Willis partners with MAR Fund on parametric reef insurance project
12th July 2018
Global re/insurance broker Willis Towers Watson has announced a partnership with the Mesoamerican Reef Fund to develop and implement an insurance model for reefs across seven sites in the four countries of the MAR Region: Mexico, Belize, Guatemala and Honduras. Through its Global Ecosystem Resilience Facility, Willis plans to develop parametric reef ... Read the full article
Cat models do not account for complex hurricane risks: JLT Re
12th July 2018
Whilst catastrophe models have historically proved accurate for conventional hurricane risks, they have not adequately accounted for events where losses extend beyond wind into areas that are not modelled or well understood, according to a new report by reinsurance broker JLT Re. The report, which examined the precision of modelled market ... Read the full article
Price Forbes & Bishopsgate launch combined specialist energy group
11th July 2018
Price Forbes & Partners Ltd and Bishopsgate Insurance Brokers Ltd, two firms within the Ardonagh Group, have announced that they have merged their energy businesses into a combined specialist energy group. The newly consolidated group will be led by Gordon Newman, Chairman of Bishopsgate, who will coordinate production activity across both ... Read the full article
AFL enters partnership with U.S InsurTech start-up OnRisk
11th July 2018
AFL Insurance Brokers has entered into a strategic partnership with OnRisk, a U.S-based InsurTech start-up, to advance new technology for structuring and placing high value property & casualty (P&C) risk. The partnership will see AFL become an early adopter of the OnRisk structuring platform, which facilitates the placement process for risk ... Read the full article
Mixed mid-year pricing results for Florida property cat reinsurers: Willis Re
11th July 2018
Property catastrophe pricing has been mixed for reinsurers in Florida at mid-year renewals, as increased demand for some companies following 2017’s catastrophes was offset by further non-traditional capital entering the market, according to reinsurance broker Willis Re. Willis Re’s 1st View Report observed that companies that performed well in Hurricane Irma ... Read the full article
JLT Re partners with CyberCube
11th July 2018
Reinsurance broker JLT Re has partnered with cyber risk analytics firm CyberCube in a move it says will “provide new and unique insights to help clients face the challenges of cyber risk.” The combination of JLT Re’s existing cyber and enterprise modelling tools with CyberCube is expected to enhance the reinsurance broker's offerings ... Read the full article
Endeavour names Howden’s Karen Allen as CEO designate following SSL merger
10th July 2018
Lloyd’s broker and delegated authority specialist Endeavour Insurance Services has named Karen Allen as Chief Executive Officer (CEO) designate, who will join the business in October, 2018, following Endeavour’s recently announced merger deal with SSL Insurance Group. Allen will also take up the position of Group Managing Director, and will ... Read the full article
Aon and Chubb partner on new terrorism and political violence policy
10th July 2018
Re/insurance broker Aon plc has collaborated with Chubb Limited and Lloyd’s to develop a new stand-alone terrorism and political violence solution, called Platinum, which addresses the demands of an increasingly regulated market. Platinum has been designed for multinational clients looking to fulfil local regulatory requirements in all territories they operate in, ... Read the full article
U.S. cyber market continues to grow, remains profitable: Aon
10th July 2018
The latest market update from Aon indicates U.S. cyber insurance is growing increasingly sophisticated while the market expands and becomes less concentrated, resulting in continued profitability and shrinking claims. Following an ‘unprecedented year’ for ransomware attacks a total of 170 U.S. insurers were reportedly writing cyber insurance in 2017, up from ... Read the full article
Marsh names Kevin Richards as Global Head of Cyber Risk Consulting
10th July 2018
Global insurance and reinsurance broker Marsh has appointed Kevin Richards to the newly-created position of Global Head of Cyber Risk Consulting. Richards will be tasked with leading the strategic development and delivery of Marsh’s cyber risk consulting business worldwide, and will work closely with the company's regional and local cyber risk ... Read the full article
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