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.
Paul Woodward joins JLT Specialty as Head of NA Casualty from Marsh
18th January 2018
Insurance and reinsurance brokerage JLT Group subsidiary, JLT Specialty, has announced the appointment of Paul Woodward as Head of North American Casualty. Woodward joins JLT Specialty from Marsh, having previously worked for JLT until 2011. In his new role he will work closely with the broker's international team, with the aim ... Read the full article
Reinsurance market demonstrates its resilience at 1/1: Guy Carpenter
18th January 2018
Commenting on the state of the global reinsurance market after the key January reinsurance renewals, broker Guy Carpenter notes how resilience the market has been and that little in the way of capital has evaporated despite the major losses of last year. In fact, Guy Carpenter's analysis shows that reinsurance capital ... Read the full article
AmWINS reveals new CEO & leadership changes
17th January 2018
AmWINS Group, Inc. has announced the appointment of Scott M. Purviance as its new Chief Executive Officer (CEO), replacing M. Steven DeCarlo, effective May 1st, 2018. Currently the firm's Chief Operating Officer (COO), Purviance has been part of the AmWINS leadership team since 2001, and served as Chief Financial Officer (CFO) from ... Read the full article
Jeremy Fox to join JLT Re from Aon Benfield as Asia-Pacific CEO
15th January 2018
JLT Re, the global reinsurance arm of re/insurance broker JLT Group, has announced that Jeremy Fox has been appointed Chief Executive Officer (CEO) of JLT Re's Asia-Pacific unit (APAC), and that he will also become a member of the Reinsurance Global Executive Committee. Most recently, Fox served as Chief Operating Officer ... Read the full article
Aon secured £900mn reinsurance protection for LV=/RGA transaction
15th January 2018
Global insurance and reinsurance brokerage, Aon, recently secured £900 million in reinsurance protection for London Victoria Friendly Society's (LV=) asset and longevity risk transaction. Reinsurance News discussed the £900 million deal between Reinsurance Group of America (RGA) and LV= when it was announced in December 2017, and Aon has now ... Read the full article
Modest market hardening across global specialty lines at 1/1: Willis Re
15th January 2018
Across multiple global specialty lines, a modest hardening of rates is expected in 2018, however, new capacity has entered the market in anticipation of the hardening market and will thus reduce the impact on rate growth, according to Willis Re's viewpoint report on January renewals. In the global specialty markets signs of ... Read the full article
Willis appoints Alex Steele & Russell Nicholson to Guernsey Financial Institutions Practice
15th January 2018
Willis Towers Watson has announced the appointment of Alex Steele and Russell Nicholson to their Guernsey Financial Institutions practice. Steele and Nicholson will assume joint responsibility for Client Relationships in Guernsey, while Anthony Kay will undertake the same role in Jersey. Chris Jackson, Global Head of FINEX FI Middle Market commented on ... Read the full article
Companies’ uptake of standalone cyber insurance to surge in 2018
12th January 2018
In 2018 uptake of standalone cyber insurance policies is expected to surge as companies respond to the growing cyber threat and regulators more strictly enforce and coordinate cybersecurity regulations, according to Aon's 2018 Cybersecurity Predictions report. As firms increasingly feel the heat of cyber attacks with reduced earnings, operational disruption and ... Read the full article
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
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