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 Re North America appoints Alain Bizet as SVP, Miami
25th May 2018
Reinsurance broker JLT Re (North America) has announced the appointment of Alain Bizet as Senior Vice President (SVP) in Miami. Alain will join JLT Re’s property team in Miami, focusing on the company’s broking efforts for the Caribbean, Central America, and the broader Latin American region. Most recently, Alain served as Assistant ... Read the full article
Industry must understand the challenge of over-capitalisation: Willis Re’s Vickers
24th May 2018
The reinsurance market performed "OK" during the first-quarter of 2018, but the industry needs to understand both the challenge and permanence of over-capitalisation, according to James Vickers, Chairman of Willis Re International, the reinsurance broking arm of Willis Towers Watson (WTW). "The major challenge for the reinsurance industry is capital," said ... Read the full article
Weather & Climate Risk Innovation Network launched by Aon
24th May 2018
Sector knowledge, experience and expertise from across Aon has been galvanised to create its new Weather & Climate Risk Innovation network, after the firm's Impact Forecasting unit estimated losses from weather events in 2017 topped out at approximately $344 billion. The initiative has been created to address weather and climate risks ... Read the full article
Aon launches Intellectual Property Solutions group, appoints Lewis Lee as CEO
24th May 2018
Leading insurance and reinsurance broker Aon has announced today the the launch of its intellectual Property (IP) Solutions group, in a move aimed at providing increased industry knowledge for clients via an emphasis on strong analytical tools and strategic hiring. To accomplish this, Aon acquired IP industry leader 601West, appointing the ... Read the full article
Corporate Benefit Audits (CBA) acquired by Risk Strategies
23rd May 2018
The privately held national insurance brokerage and risk management firm Risk Strategies has announced the acquisition of Massachusetts-based Corporate Benefit Audits (CBA). CBA has operated since its founding in 1992 and provides outsourced claim auditing services to clients including stop loss carriers, managing general underwriters, reinsurance companies and self-funded employers. Risk Strategies will ... Read the full article
Fred Abbott appointed to lead Willis Tower Watson’s Northern California market
22nd May 2018
Global advisory, broking and solutions company Willis Towers Watson (WTW) has announced the appointment of Fred Abbott as their new Market Leader for Northern California. Abbott has held several geography and business segment leadership roles in the U.S. and Canada during his Willis Towers Watson career. Most recently he led the ... Read the full article
RFIB owner seeks to double revenues by 2021, as it rebrands to Risk Transfer Group
22nd May 2018
CCP TopCo, the holding company of international insurance and reinsurance broker RFIB, has announced a rebrand of the business to the Risk Transfer Group (RTG). In an interview with Reinsurance News today, Chief Executive Officer (CEO) Steven Beard underlined RTG's relationship to RFIB, commenting, “The new brand is a functional name for ... Read the full article
Guy Carpenter hires Richard Carver from Aon as non-marine MD
22nd May 2018
Reinsurance broker Guy Carpenter has announced the hire of Richard Carver as a Managing Director and Senior Broker in the firm’s UK non-marine broking division. Carver was most recently a Managing Director at Aon, having been at the firm for more than 15 years, based in London and Bermuda. Carver will be ... Read the full article
Jenni Rowntree Estis promoted to Head of Operations, Guy Carpenter Bermuda
21st May 2018
It’s been announced today that Bermudian Jenni Rowntree Estis has been promoted to the role of Head of Operations, Senior Vice President, Broking after 16 years at reinsurance broker Guy Carpenter. The new role will include the overseeing of IT, human resources, finance and client administration services at the company and ... Read the full article
Damage from Australia’s Hobart storm reaches $50mn: Impact Forecasting
21st May 2018
Overall economic damage from the storm that hit the Australian city of Hobart, Tasmania over May 10-11 is currently estimated by local officials to have reached around AUD $50 million (USD $38 million), according to Impact Forecasting, Aon Benfield’s catastrophe risk modeller. A complex low-pressure system brought rain, wind, hail and ... Read the full article
Property & FinPro lines drive commercial rate increases in Q1: Marsh
18th May 2018
Following over four years of consecutive quarterly declines, global commercial insurance prices increased, on average, during the first-quarter of 2018, according to broker Marsh's Global Insurance Market Index. The majority of regions showed either moderate increase in average prices during Q1, or a slowdown in the pace of declines, driven largely ... Read the full article
May U.S. weather event to cost at least hundreds of millions USD: Aon Benfield
18th May 2018
Private insurers and reinsurers are expected to face financial consequences after several clusters of severe thunderstorms in the United States brought widespread damage to residential and commercial property, vehicles, infrastructure, and agriculture between May 12-15. At least five people were killed and dozens more were injured during the multi-day outbreak, which inflicted ... Read the full article
SSL in merger deal with Endeavour, backed by J.C. Flowers
18th May 2018
SSL Insurance Group, a Lloyd's and independent specialist marine broker, and Endeavour Insurance Services Limited, a fellow Lloyd’s broker and delegated authority specialist, have announced plans to merge the companies into a combined business. The deal, which is expected to be completed in the second half of 2018, is set to ... Read the full article
Guy Carpenter commissions Simplitium’s ModEx cat risk platform
17th May 2018
Reinsurance broker Guy Carpenter & Company, LLC has commissioned Simplitium, a global financial services solutions provider and subsidiary of Cinnober Financial Technology, to deliver a catastrophe risk modelling solution using its ModEx platform. ModEx, formerly known as Boat Oasis, is the first independent multi-vendor catastrophe risk modelling platform for the re/insurance ... Read the full article
Aon names John English CEO of Aon Captive & Insurance Management
17th May 2018
Insurance and reinsurance broker Aon has announced the appointment of John English as Chief Executive Officer (CEO), Aon Captive & Insurance Management, effective June 1st, 2018. Currently Chief Operating Officer (COO) of Aon Captive & Insurance Management & Managing Director of Aon Captive & Insurance Management EMEA, English has been with ... Read the full article
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