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.
Aon Baltic completes acquisition of broker Balto Link
11th January 2018
Aon Baltic has announced the completion of the acquisition of insurance broker Balto Link, a Baltic region specialist in large corporate business and online sales. General Manager of Aon Baltic Žilvinas Petrauskas commented; “joining forces with Balto Link will create value and empower results for clients of both firms. Balto Link’s ... Read the full article
Casualty market calms after HIM but reinsurers push for improved T&Cs: Willis Re
10th January 2018
The global casualty market remains orderly and has calmed down somewhat from the initial impacts of third-quarter hurricanes, however, the trend of improved terms and conditions (T&C) for reinsurance buyers is now slowing, and even reversing in some instances, according to Willis Re. In its recent 1st View report, reinsurance broker ... Read the full article
Beach & Associates acquired by Acrisure
10th January 2018
Reinsurance brokerage Beach & Associates is to be acquired by U.S. retail consulting and insurance broking group Acrisure, LLC, who will acquire 100% of Beach’s equity from existing shareholders, including private equity specialists Aquiline Capital Partners. Beach will retain its name, identity and approach under the new ownership, operating as an ... Read the full article
Aon names Edward Smerdon as Head of Legal and Technical
10th January 2018
Aon has named Edward Smerdon as Head of Legal and Technical for the Financial and Professional Services division of its London-based Global Broking Centre (GBC). Smerdon is a specialist in complex coverage, with an emphasis on financial lines insurance including directors & officers, financial institutions, and professional and employment practice liabilities. Commenting ... Read the full article
Willis names Louise Pennington large account leader, Corporate Risk & Broking
9th January 2018
Global insurance and reinsurance industry brokerage, Willis Towers Watson, has announced the appointment of Louise Pennington to a newly created role, as large account leader for its Corporate Risk and Broking segment. In her new role, Pennington will take responsibility for the firm's large account growth strategy and value proposition, and ... Read the full article
Reinsurance price increases could be short-lived: Aon Benfield
9th January 2018
Despite pricing in the global reinsurance industry increasing at the January 1st renewals after third and fourth-quarter 2017 catastrophe events, reinsurance broker Aon Benfield expects this trend to be short-lived as capital continues to enter the market, and warns it could have a lasting impact on the reinsurance market. According to ... Read the full article
Willis Re’s PRISM-Re tool upgraded to include silent cyber
8th January 2018
PRISM-Re, the cyber risk portfolio modelling tool from reinsurance broker Willis Re, has been upgraded to now include silent cyber, providing insurers and reinsurers with a more comprehensive view of cyber exposures. Willis Re, the global reinsurance arm of insurance and reinsurance brokerage Willis Towers Watson, first launched PRISM-Re in February ... Read the full article
AmWINS to acquire personal lines specialty MGA Seacoast Brokers
3rd January 2018
Specialty insurer AmWINS Group has reached an agreement to acquire personal lines specialty MGA Seacoast Brokers, LLC, with the transaction due to close following regulatory approval. Steven DeCarlo, Chief Executive Officer of AmWINS, said; “the addition of Seacoast to our AmWINS Access division significantly increases our personal lines products and services. “Seacoast’s ... Read the full article
Rate movements varied at 1/1 but retro and D&F saw highest increases: JLT Re
2nd January 2018
After years of falling rates, global property catastrophe reinsurance lines saw upwards pricing movements at the January 1st, 2018 renewals, although the level of rate increases varied significantly across regions, according to reinsurance broker JLT Re. After the huge level of global catastrophe losses in the third-quarter of 2017 reinsurers were ... Read the full article
Headwinds limit significant pricing corrections for reinsurers: Willis Re
2nd January 2018
On the back of one of the worst loss years on record for the global insurance and reinsurance market, pricing corrections have not been as significant as many in the market had hoped for, driven by a number of factors, according to Willis Re's 1st View renewals report. Recent catastrophe ... Read the full article
Ed names Heather Clarkson as Managing Director of Marine
22nd December 2017
Ed has announced the appointment of Heather Clarkson, who joins from a role as Chief Broking Officer of Marine and Head of Hull at Aon Risk Solutions, to Managing Director of Marine with effect from 2nd January 2018. Clarkson boasts over three decades of insurance experience, including having served on a ... Read the full article
MMC names Stacey Mills as VP and Controller
22nd December 2017
Marsh & McLennan Companies (MMC) has announced the appointment of Stacey Mills as Vice President (VP) and Controller, a role that will see her serve as the company's Chief Accounting Officer (CAO), effective January 1st, 2018. Mills joined the firm in 1999 as Controller of Putnam Investments, and has served as ... Read the full article
Paul Moody named as Marsh’s CEO of UK specialities unit
18th December 2017
Marsh & McLennan Companies' insurance brokerage arm, Marsh, has named Paul Moody as Chief Executive Officer (CEO) of its UK specialities unit, effective January 1st, 2018. Moody replaces Roy White, who has been appointed to the newly created position as Chairman of UK Specialties. Moody has been with Marsh for roughly 18 years, and ... Read the full article
B.P. Marsh announces investment in Lloyd’s broker, EC3 Brokers Limited
18th December 2017
Venture capital provider B.P. Marsh & Partners Plc has announced an investment into EC3 Brokers Limited via a newly established company, EC3 Brokers Group Limited. The transaction sees the company take an effective 20% equity stake in EC3 for a total cash consideration of £5 million (US$6.7nm), in a mix of ... Read the full article
Bretton Woods gains independent license & Lloyd’s Broker status
15th December 2017
Specialist insurance broker Bretton Woods (BWI) has gained an independent licence as a Financial Conduct Authority authorised broker and has achieved status as a “Lloyd’s Broker” registered by Lloyd’s of London. BWI will continue to use its own broker number – BWI 1392 BWI. Prior to gaining its FCA license, BWI traded as ... Read the full article