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.
Arthur J. Gallagher acquires Mahowald Insurance
14th December 2022
Re/insurance broking firm, Arthur J. Gallagher & Co. have acquired St. Cloud, Minnesota-based Mahowald Insurance, LLC. Terms of the transaction were not disclosed. Founded in 1930, Mahowald is a retail insurance agency that offers commercial and personal products, as well as employee benefit packages and risk management services for clients across the ... Read the full article
Rothesay completes £1.2bn full scheme buy-in for The Co-operative Bank
14th December 2022
Rothesay, the UK's largest specialist pensions insurer, has completed a £1.2 billion full scheme buy-in with The Bank Section of the Co-operative Pension Scheme. The Section is sponsored by The Co-operative Bank the Manchester-headquartered retail and SME bank. The transaction secures the benefits for all uninsured members of the Bank Section - ... Read the full article
Lockton appoints Ben Milan VP & Surety Practice Leader
14th December 2022
Lockton, a privately-owned independent insurance broker, has announced the appointment of Ben Milan as Vice President and Surety Practice Leader within the Lockton Global Real Estate & Construction (GREAC) division. In his new role, Milan will be responsible for running the Lockton Surety Practice for the UK and Ireland, this includes ... Read the full article
Howden names Marc Lehmann Head of Climate Analytics
14th December 2022
International insurance broker Howden has announced the appointment of Marc Lehmann as Head of Climate Analytics. Lehmann brings an array of both modelling and engineering experience to the role, having previously held senior Catastrophe, ESG, Climate Risk, and Climate Change resilience positions at KPMG, AIG and WTW. He joins Howden from Jupiter ... Read the full article
Gallagher Re suggests TWIA commences reinsurance renewal as soon as possible
13th December 2022
In light of the hardening reinsurance market environment, insurance and reinsurance broker Gallagher has called on the Texas Windstorm Insurance Association (TWIA) to begin its reinsurance planning and buying as soon as possible. TWIA's Board meeting is scheduled for today, during which management will discuss the company's 2023 reinsurance programme amid ... Read the full article
Louisa Blain joins Human Capital Solutions at Aon UK
13th December 2022
Global professional services firm Aon has announced that Louisa Blain has joined as a partner in its Human Capital Solutions (HCS) team in the UK. In the new role, Blain will lead insurance consulting for HCS, leveraging Aon’s extensive capabilities and data to deliver value and insights to clients across the ... Read the full article
Cyber competition slowing rate increases for firms with good security: WTW
13th December 2022
A new note from WTW says that increased competition from cyber underwriters has led to more nominal rate increases when organisations can demonstrate good cyber security controls year over year. The firm said in its note that these cyber underwriters were eager to write new business following the recalibration of cyber ... Read the full article
Marsh Asia promotes Sean Chong Chou to CEO Malaysia
13th December 2022
Insurance broker and risk advisor Marsh has announced the promotion of Sean Chong Chou to CEO Malaysia, effective 1st of January 2023. Chou is stepping up from his current position as Deputy CEO, which he has held for over a decade. According to Marsh, Chou will be responsible for delivering the company's ... Read the full article
WTW selects three new members for its board
12th December 2022
WTW has selected Stephen Chipman, former CEO of Grant Thornton U.S.; Jackie Hunt, former chair of Allianz Asset Management and Allianz Life (U.S.); and Fredric Tomczyk, former president and CEO of TD Ameritrade, to join the board, each with start dates effective April 1, 2023. The board said it made these ... Read the full article
Freely named Head of Global Lines of Business, Risk & Broking at WTW
12th December 2022
WTW, a leading global advisory, broking, and solutions company, has announced the appointment of Evan Freely as Global Head of Financial Solutions. Based in New York, Freely will be reporting to Alastair Swift, Head of Global Lines of Business, Risk & Broking at WTW. In his new role, Freely will be responsible ... Read the full article
Aon joins Global Earthquake Model Foundation
12th December 2022
Professional services firm Aon has joined the Global Earthquake Model (GEM) Foundation. The firm said it was joining the non-profit public-private partnership that develops and distributes models and data for a transparent assessment of earthquake risk worldwide as governor sponsor. Comprising public, private, academic, and non-government organizations, GEM delivers state-of-the-art earthquake risk ... Read the full article
WTW sees clear flight to quality amid hardening reinsurance market
9th December 2022
Analysts at WTW have observed a “significant flight to quality” in the reinsurance market as insurers use the hardening market to ‘housekeep’ their existing portfolios prior to focusing on new business. The broker's Insurance Marketplace Realities 2023 report predicts further rate firming for the property reinsurance market, with more withdrawals of ... Read the full article
WTW names EMEA Head of Commercial Lines transformation
9th December 2022
Re/insurance broker WTW has announced the appointment of Derric Howard to the role of EMEA Head of Commercial Lines Transformation, within its Insurance Consulting and Technology (ICT) business. He will be based in London and work with European insurance firms, brokers and other market players to modernise and digitise the underwriting ... Read the full article
WTW adds Sallada from Marsh as Head of Casualty for NA
9th December 2022
Global advisory, broking, and solutions company WTW has announced the appointment of James Sallada as Head of Casualty within Corporate Risk and Broking (CRB), North America. He joins from Marsh where he has worked for the previous 20 years, most recently as Managing Director and Northeast Risk Management Placement Leader for ... Read the full article
Miller launches new D&O product for UK Construction sector
9th December 2022
Specialist re/insurance broker Miller has announced the launch of D&O Construct, a new product for the UK construction sector, designed exclusively with DUAL. According to Miller, the product is designed to support a variety of occupations across the construction sector, including architects, developers, building contractors and surveyors. The firm adds that through ... Read the full article