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.
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
Gallagher Re outlines “complex” and “frustrating” Jan renewals
3rd January 2023
Gallagher Re has described the January 1st reinsurance renewals as “complex and in many cases frustrating” as tense negotiations ran “down to the wire” and reinsurers restricted capacity and pushed for tough terms and pricing. The broker’s 1st View January reinsurance renewals report notes that the two areas of most constraint ... Read the full article
Relation names Timothy Hall as President
30th December 2022
US insurance brokerage Relation Insurance Services has announced the promotion of Timothy J. Hall to the position of President. In his new role, Hall will be responsible for strategic growth initiatives, performance management, carrier management/broking, information technology, human resources, and legal. He will also continue to oversee Relation’s corporate development, acquisitions, and ... Read the full article
Reinsurers at crossroads after difficult Jan 1 renewals: Guy Carpenter
30th December 2022
The reinsurance sector now finds itself at a “crossroad,” according to analysts at Guy Carpenter, following one of the most challenging renewal periods ever experienced at January 1. In a report on the crucial renewal period, Guy Carpenter – a global risk and reinsurance specialist and a business of Marsh McLennan ... Read the full article
Arthur J. Gallagher acquires Brazil-based Interbrok Group
29th December 2022
Arthur J. Gallagher & Co. has announced the acquisition of São Paulo, Brazil-based Interbrok Group for an undisclosed price. Interbrok Group is a retail insurance broker founded in 1976, which offers a variety of commercial and personal insurance products and services to clients throughout Brazil. Following the acquisition, Angeles de Magalhães, Anselmo ... Read the full article
2023 set to be hardest property reinsurance market in history: Argo’s Snyder
23rd December 2022
Jessica Snyder, President, US Insurance, Argo Group, suggests that there will be an unprecedented hardening of the reinsurance markets across property and casualty lines in 2023, with ceding commissions down 2-4 points and perhaps the "hardest property reinsurance market in history." Further, Snyder notes that the evolving risk landscape will persist ... Read the full article
PartnerRe to target niche areas in direct lines expansion: CEO Bonneau
23rd December 2022
PartnerRe CEO, Jacques Bonneau, has suggested that while the firm remains a reinsurance-focused operation, its recently announced expanded direct insurance presence will provide opportunities to source and write risks that may not be available to it as a reinsurer and will complement its overall portfolio. As part of a strategic review ... Read the full article
BMS valued at £1.75bn after investment from Eurazeo
23rd December 2022
Up to 34% of BMS Group’s share capital is to be acquired by French investment company Eurazeo, which together with an investment in the re/insurance broker of up to £355 million, takes its valuation to £1.75 billion. Eurazeo and its affiliates will join BMS alongside its existing shareholders British Columbia ... Read the full article
WTW report finds US commercial insurance prices up YOY
23rd December 2022
A new survey from WTW has found that prices for US commercial insurance increased again during the third quarter of the year. A statement from the firm said that it had compared prices charged on policies underwritten during Q3 2022 to those charged for the same coverage during Q3 2021. The aggregated ... Read the full article
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