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.
Changes to the market following Solvency II reforms will be a gradual process: Aon
28th November 2022
Following the UK Government's response to consultations over changes to Solvency II, re/insurance broker Aon has released a report highlighting the potential impact on the market, noting it will be a gradual process rather than an observable one as insurers change behaviours and optimise strategies. According to Aon, the primary legislative ... Read the full article
Substantial changes in war reinsurance programmes possible in 2023: Gallagher
25th November 2022
The ongoing war in Ukraine and the sizable losses it has caused to the re/insurance market, have pushed many industry bodies to make changes in war reinsurance programs. Because of this, some experts are predicting fairly seismic changes to the war market in 2023, according to Gallager’s recent marine market report. However, ... Read the full article
Review of regulations hampering UK captive development needed: Marsh’s Lay
25th November 2022
During a speech at the Insurance Institute of London, Institute President and Marsh CEO of UK & Ireland, Chris Lay, called attention to how regulatory barriers are preventing the UK from being recognised as a suitable location for captive insurance vehicles, despite it being a global hub for financial services ... Read the full article
Marsh to acquire majority share in Moroccan insurance broker Beassur Marsh
24th November 2022
Insurance broker and risk advisor, Marsh, has announced that it intends to exercise its option to acquire the majority of shares in Beassur Marsh, following its acquisition of a stake in the Moroccan insurance broker in June 2019. The Beassur Marsh team is headquartered in Casablanca and will become part of ... Read the full article
Reinsurance returns to rise as sector runs counter to global economy: Howden’s Flandro
23rd November 2022
Analysts at international insurance broker Howden are forecasting that reinsurance sector returns will rise significantly in the next few years, with the sector set to grow in spite of – or perhaps even because of – the deteriorating global economic picture. Speaking as part of a Q3 insurance and earnings update, ... Read the full article
Renewals is a time to move towards and not away from risk: Aon’s Marcell
23rd November 2022
This next renewals period is a time for reinsurers to move towards risk and not away from it in order to showcase what the industry does best, according to Andy Marcell, CEO of Aon Reinsurance Solutions. For more than 400 years, re/insurers have provided a vital foundation for economic trade and ... Read the full article
Ardonagh Group acquires Australian insurer Envest for £270m
23rd November 2022
The Ardonagh Group, the largest independent insurance broker in the UK, has announced it has agreed to acquire Australian insurance firm Envest for AUD482 million (£270 million) Brisbane-based Envest includes the broking network Aviso Group, a network of broking offices across five states managing circa AUD405 million in gross written premium, ... Read the full article
Marsh places insurance for UK space launch with Beazley
23rd November 2022
Broker and risk advisory firm Marsh says it has placed insurance with Beazley for the first space rocket launch from the UK. The firm said that the launch – which is expected to take place this year at Spaceport Cornwall, one of the UK’s first domestic spaceports – will carry, among ... Read the full article
Aon Indonesia hires Inti Amaliah as head of reinsurance solutions
22nd November 2022
Aon Indonesia, a regional subsidiary of the global re/insurance broker, has brought Inti Amaliah onboard as its new head of reinsurance solutions. The firm announced the hire through a post on LinkedIn. Amaliah’s own LinkedIn profile indicates that she is joining Aon Indonesia after over five years at Willis Re, where she ... Read the full article
Amwins Global Risks appoints Mark Cody as Managing Director
22nd November 2022
Amwins Global Risks, the international arm of global specialty insurance broker Amwins, has appointed Mark Cody as Managing Director. Cody’s appointments is effective as of January 1, 2023. As Managing Director, Cody will lead team sales support activity, focus on strategic recruitment, enhance client and carrier relationships and identify and capitalise on product ... Read the full article
WTW, Citi, & FCIA launch trade credit insured AR facility
22nd November 2022
WTW and Citi have successfully placed an innovative insurance facility with Great American Insurance Company's FCIA Trade Credit & Political Risk division, delivering a portfolio based, long tenor Accounts Receivable (A/R) financing solution by combining the benefits of two existing insurance products. In a joint release, the trio suggested that despite ... Read the full article
Hopes for market stability “all but disappeared”: Woodruff Sawyer
21st November 2022
A new report by US independent brokerage WoodRuff Sawyer contends that hopes for stability in the insurance and reinsurance market next year have “all but disappeared” in the wake of Hurricane Ian and the myriad economic challenges facing the industry. WoodRuff Sawyer’s 2023 Property & Casualty Looking Ahead Guide notes that ... Read the full article
WTW and The Nature Conservancy partner on US coral reef policy
21st November 2022
WTW has partnered up with The Nature Conservancy (TNC) to launch the United States’ first ever coral reef insurance policy. The insurance policy will provide money for rapid coral reef repair and restoration across Hawai‘i immediately following hurricane or tropical storm damage. In 2019, TNC and partners implemented the world’s first reef ... Read the full article
Risk Strategies bolsters medical presence with acquisition of Wallace Specialty
21st November 2022
Leading national specialty insurance brokerage and risk management firm, Risk Strategies, has acquired Wallace Specialty Insurance Group. Terms of the acquisition were not disclosed. Founded in 2012, Wallace Specialty was created to provide the dental industry with the best-in-class insurance services. The firm creates custom, comprehensive insurance plans for dental service organizations, ... Read the full article
“Frenzy” of deals yields mixed outcomes for transactional risk insurers: Lockton
18th November 2022
Dealmakers continued with a “frenzy” of transactions over the latter half of 2021 and into 2022, leading to both positives and negatives in the transactional risk market, according to the latest market update from re/insurance broker Lockton. PwC figures show a 24% increase in deal activity from 2020, and Lockton Transactional ... Read the full article