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.
Cyber loss picks stable at Jan 1 despite rate hardening: Gallagher Re
9th January 2023
Reinsurers aggregate excess of loss/stop loss cyber loss picks remained stable at 1/1, global reinsurance broker Gallagher Re revealed in its 1st View Report. Sharing its comments on the global cyber market at the January 1, 2023 reinsurance renewals, the broker said that despite significant rate hardening in underlying portfolios, "market ... Read the full article
MMA acquires HMS Insurance Associates
9th January 2023
Marsh McLennan Agency (MMA), a subsidiary of Marsh, has acquired Maryland-based HMS Insurance Associates (HMS), one of the US's largest independent agencies. As part of the acquisition, in which the terms were undisclosed, all of HMS's 120-plus employees, including president Gary L. Berger, will join MMA and work in the Hunt ... Read the full article
Retro capacity “materially constrained” at Jan 1, says Gallagher Re
6th January 2023
Non-marine retrocession capacity was "materially constrained" at the January 1st, 2023, reinsurance renewals, with widespread pressures on attachment levels as sellers' concerns around inflation and frequency of losses contributed to a challenging environment, according to Gallagher Re. The retro market has been constrained for some time, and reinsurance broker Gallagher Re's ... Read the full article
Aon appoints EMEA strategy leader for Commercial Risk Solutions
6th January 2023
Re/insurance broker Aon has announced the appointment of Agostino Fulciniti as Head of Strategy Execution for Commercial Risk Solutions in EMEA, effective January 1, 2023. Fulciniti has been working for Aon for 20 years, having joined the firm in 2009 as CFO for Aon Italy and eventually the Middle East, supporting ... Read the full article
Neema appoints Gallagher Re as reinsurance broker
6th January 2023
African specialist underwriting agency, Neema Insurance Managing Agency has appointed Gallagher Re as the firms reinsurance broker, following the completion of a partnership between the two companies. David Blain from Gallagher Re, commented: ‘’Gallagher Re are delighted to be appointed the broker of choice for Neema’s reinsurance requirements. The partnership brings together ... Read the full article
Property lines with poor loss history to see rate rises up to 150%: USI
5th January 2023
Broker and consulting firm USI Insurance Services has forecast that cat or non-cat property with poor loss history or poor risk quality may see rate increases of up to 150% in the first half of 2023. Following three years of a firming market with increased deductibles, valuation adjustments, and reductions in ... Read the full article
Direct & fac market proves resilient at Jan 1: Howden
5th January 2023
The global direct and facultative (D&F) market remained resilient at the January 1 reinsurance renewals, Howden reports, with capacity still available at the right price for most cedants, despite the challenging backdrop. The broker notes that a myriad of events came together to drive the hardest property catastrophe reinsurance market ... Read the full article
Aston Lark expands UK presence with two new regional offices
5th January 2023
Insurance broker Aston Lark, a Howden company, is expanding its UK footprint by opening two new regional offices. The new offices will provide additional in-person support for clients, as well as more opportunities for for both employees and emerging talent. The new offices will be in South Wales and the Thames Valley, ... Read the full article
Renewals mark return to reinsurers driving primary behaviour: Gallagher Re’s Vickers
4th January 2023
The recent January 1 renewals period marked a return to a historical market dynamic in which reinsurers are the drivers of behaviour in the primary markets, James Vickers of Gallagher Re has asserted. Speaking to Reinsurance News alongside the release of Gallagher Re’s 1st View report, Vickers explained that reinsurers “are ... Read the full article
Reinsurers make “significant strides” at Jan renewals: Berenberg
4th January 2023
Analysts at investment bank Berenberg have reported that the reinsurance market made “significant strides to improve profitability” at the recent January 1 renewals, particularly in underperforming property natural catastrophe business. Early reports from insurance brokers including Guy Carpenter, Gallagher Re and Howden indicate that the highly anticipated hard ... Read the full article
Aon names Tassarotti Head of Commercial Risk Solutions EMEA
4th January 2023
Luca Tassarotti has been appointed to the position of Head of Commercial Risk Solutions EMEA at Aon. An industry veteran, Tassarotti began his career working as a Managing Director at the broking group Willis in the late 1990s. He joined Aon in 2006 as a Managing Director in the broker's Financial Services ... Read the full article
Gallagher Re warns of damaged relationships following renewals
4th January 2023
Analysts at Gallagher Re have warned that many of the hard-fought positive outcomes for reinsurers at the recent January 1st renewals may have come at the expense of damaged client relationships. In its 1st View January reinsurance renewals report, the broker noted that the recent 1/1 period was “very tense” with ... Read the full article
Aon promotes Natalia Char Mutis to Head of Commercial Risk Latam
3rd January 2023
Aon has announced that it has promoted Natalia Char Mutis to the role of Head of Commercial Risk Latam. Based in Miami, Florida, Natalia joined Aon in 2021 as Strategy and Broking Leader Commercial Risk Latam. Prior to Aon, she spent over seven years working at WTW, where she held the roles ... Read the full article
Cat loss-hit property treaties in the U.S. see rate rises of +100% at 1/1: Gallagher Re
3rd January 2023
Analysis by reinsurance broker Gallagher Re reveals that some catastrophe loss-hit treaties in the U.S. witnessed rate increases of more than 100% at the January 1st, 2023, reinsurance renewals, as Hurricane Ian, other catastrophe and risk losses, inflation, and rising interest rates drove disruption in the market. Gallagher Re's 1st ... Read the full article
Multi-decadal high reinsurance rate rises achieved at Jan 1, says Howden
3rd January 2023
A myriad of events came together and drove the hardest property catastrophe reinsurance market in a generation at the key, January 1st, 2023, reinsurance renewals, with structures and coverage terms at the forefront of negotiations, according to re/insurance broker Howden. The coalescence of geopolitical and macroeconomic shocks, the ongoing war in ... 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.
