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.
Aviation market had “most challenging renewal” in over two decades: Aon
6th February 2023
Analysts at Aon have said that the aviation market experienced its most challenging renewal in over two decades at 1/1, with significant rate increases and coverage restrictions. In a new report on January reinsurance market dynamics, the broker noted that insurers with reinsurance renewals in 2023 face an “uncertain market”, with ... Read the full article
WTW appoints Aon’s Van Ede as Global Head of Trade Credit
3rd February 2023
Broking and solutions company WTW, has appointed Aon’s Pieter Van Ede as Global Head of Trade Credit. Within this role, he will report to Evan Freely - Head of Global Financial Solutions at WTW. Based in Denver, Van Ede will be responsible for delivering the Global Trade Credit strategy. WTW has recently highlighted ... Read the full article
Study reveals lack of understanding over re/insurers’ ESG data use
3rd February 2023
According to a recent report from Better Insurance Network and Oxbow Partners, brokers are hoping to get more consistency and transparency from insurers on how client environmental, social and governance (ESG) data is being used. The report, titled ‘ESG Data for Underwriting – How (re)insurers can capture and implement ESG more ... Read the full article
Matthew Silley joins Lockton Re’s growing cyber practice
3rd February 2023
Global insurance broker Lockton’s dedicated reinsurance division, Lockton Re, has appointed Matthew Silley as a broker in the Cyber Practice of the firms Specialty division. Silley joins Lockton Re from Axis Capital, where he most recently held the role of Cyber Portfolio Management Leader. Overall, he brings over 10 years of industry ... Read the full article
Aon’s Reinsurance Solutions delivers 9% organic revenue growth in Q4 2022
3rd February 2023
Global broker Aon's Reinsurance Solutions arm achieved organic revenue growth of 9% in the fourth quarter of 2022, as revenue across the group increased by 2%, year-on-year, to $3.1 billion, reflecting organic revenue growth of 5%. Higher total revenue of $3.1 billion includes the 5% organic revenue growth and a 1% ... Read the full article
Reinsurance market shift an opportunity to re-set profitability: JP Morgan
2nd February 2023
Analysts at JP Morgan have suggested that the reinsurance market shift is an opportunity for companies to re-set profitability and rebuild buffers. JP Morgan's analysts state that additional exposure growth on top is a bonus, though this is not something that the firm is looking out for. They write, "For the first ... Read the full article
US property cat reinsurance rates-on-line up 30.1% at January renewals: Guy Carpenter
2nd February 2023
The Guy Carpenter U.S. Property Catastrophe Rate on Line Index increased by a significant 30.1% at the January 2023 reinsurance renewals, taking rates to an all-time high, according to the latest data from the global reinsurance broker. Guy Carpenter, which is Marsh McLennan's reinsurance broking arm, has been ... Read the full article
Insurtech funding slumps by 57% in Q4: Gallagher Re
2nd February 2023
New data from reinsurance broker Gallagher Re shows that global insurtech investment declined by 57.0% to $1.01 billion in the fourth quarter of 2022, when compared with the previous quarter. According to the broker’s Global InsurTech Report, this means that insurtech funding is at its lowest quarterly point since Q1 2020. The ... Read the full article
Lockton appoints Ryan Willis to its UK Commercial Wholesale team
2nd February 2023
Independent insurance broker, Lockton has appointed Ryan Willis as Existing Business Team Manager within its Commercial Wholesale team, with immediate effect. In his new role, Willis will be responsible for leading and motivating the Wholesale Existing Business team. He will oversee the day-to-day operations and performance of the team, communicating the ... Read the full article
Cole Wagner joins Newfront from Marsh as US growth Leader
1st February 2023
San Francisco-based insurance broker Newfront has named Cole Wagner as US Growth Leader and Executive Vice President. Wagner holds more than two decades of experience building high-performing teams and developing successful marketplace strategies. He joins Newfront from Marsh, where he was most recently the Central Zone Growth Leader, overseeing 18 offices throughout ... Read the full article
Insurance brokers begin 2023 on sound footing: S&P
1st February 2023
Analysts at S&P Global Ratings have suggested that insurance brokers & service providers have started 2023 on sound footing despite the looming recession and tightening financial conditions. The rating agency's sector view for global insurance services is largely stable, reflecting resilient industry fundamentals for most subsectors. S&P expects limited rating changes ... Read the full article
Optio Group’s Dubai-based MGA and A&H reinsurance broker commences trading
31st January 2023
Specialty MGA Optio Group's recently established Dubai-based MGA and Accident and Health (A&H) reinsurance broker, Optio Re MENA Ltd., has now commenced trading following the receipt of required approvals from UAE regulatory authorities. By drawing on the wider group's specialty expertise, the new operation will, over time, expand to include PVT, ... Read the full article
Consilium appoints International Casualty Broker
31st January 2023
Consilium, the global speciality re/insurance broking business of the Aventum Group, has announced the appointment of Matthew Gould as Associate Partner placing International Casualty. Formerly a broker at Zeus, Gould brings experience in placing specialist and complex Canadian, Australian and US construction liability risks in the London market. His background covers both ... Read the full article
WTW launches new cyber facility CyXS
31st January 2023
Broking and solutions company, WTW has launched CyXS, a new cyber facility that aims to provide capacity and efficiency for its clients around the world. Key elements of the facility include access to up to 50m (USD/ GBP/ EUR) of excess layer capacity which can be deployed with complete flexibility anywhere ... Read the full article
Reinsurers had the upper hand at January cat renewals: Guy Carpenter’s Klisura
30th January 2023
Dean Klisura, President and CEO of Guy Carpenter, the reinsurance arm of Marsh Mclennan, has suggested that reinsurers had the upper hand at the January cat renewals. The quote comes from Marsh McLennan's Q4 2022 earnings call, in which Klisura was questioned about changes in client behaviour at the renewals. He said, ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
