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.
AM Best notes a reversion in negative trends for Barents Re
16th December 2022
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Barents Re and its affiliate, Barents Re Lux. AM Best suggests that the revised outlooks reflect the reversion of the negative trend ... Read the full article
Cardiff City FC sues Miller for £10m after player death
16th December 2022
Specialist re/insurance broker Miller is facing a lawsuit from Cardiff City Football Club following the 2019 death of Argentinian player Emiliano Sala for an alleged breach of duty by the broker. The 28-year-old Sala died in a plane crash over the English Channel in January 2019 after completing a £15m transfer ... Read the full article
AXIS gets $605m loss portfolio transfer from RiverStone
16th December 2022
RiverStone International has announced that it has entered into loss portfolio transfer (LPT) reinsurance agreements with affiliates of AXIS Capital, which cover several of its professional lines and liability insurance portfolios, mostly in relation to 2019 and prior accident years. The transaction covers net reserves for losses and loss expenses of ... Read the full article
Smaller deals and slower pace drive the global 2023 M&A outlook: WTW
16th December 2022
Dealmaking in the global M&A market is expected to remain active in 2023 despite ongoing uncertainty and major headwinds, with recession fears triggering a ‘lipstick effect’ as larger deals fall out of favour, according to WTW. Recent research by the multinational insurance advisor company, showed buyers outperforming the wider market as ... Read the full article
WTW names Naheed Jaffer Director and Lead for PPCU Canada
15th December 2022
WTW, a global advisory, broking and solutions company, has announced the appointment of Naheed Jaffer as Director and Lead for Pricing, Product, Claims and Underwriting (PPCU) propositions in Canada, within the company’s Insurance Consulting and Technology (ICT) business. Jaffer will be based in Toronto and report to Nicolas Beaudoin, P&C Division ... Read the full article
Communication key as D&O market continues stabilisation: Gallagher
15th December 2022
The directors’ and officers’ insurance (D&O) market has continued a period of stabilisation over the last quarter, according to a recent report by insurance brokerage firm Gallagher. Analysts noted that, due to insurer competition, the record-high premiums seen in the previous two years have continued to decline. The challenges seen from a ... Read the full article
Arthur J. Gallagher acquires Aviation Insurance Australia
15th December 2022
Re/insurance broking firm Arthur J. Gallagher & Co have acquired Brisbane, Queensland-based Aviation Insurance Australia. Terms of the transaction were not disclosed. Founded in 1993, Aviation Insurance Australia is a specialist retail insurance broker that serves aviation and aerospace clients throughout the country. The brokerage website says the firm manages all aircraft types ... Read the full article
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
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