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.
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
Aon’s Jane Kielty named as new deputy chair of BIBA
9th December 2022
Aon’s UK head of commercial risk Jane Kielty has been named deputy chair of the British Insurance Brokers’ Association (BIBA). A statement from BIBA said that Kielty, head of commercial risk UK, has been on the board since taking the chair of BIBA’s Insurance Brokers’ Standards Committee in 2020 and steps ... Read the full article
The Ardonagh Group selects AutoRek to drive efficiency
9th December 2022
The Ardonagh Group has selected AutoRek, a leading software provider to global financial services firms, as the group is looking to drive efficiency in key back and middle office Insurance Broker Accounting (IBA) processes using intelligent automation technology. According to the annoucement, the initial scope for AutoRek will be to support ... Read the full article
Sara Romine joins Lockton as US General Counsel
8th December 2022
Insurance and reinsurance broker Lockton has announced the addition of Sara Romine as US General Counsel, based in Kansas City. Romine succeeds Ann Abercrombie, who retired in May after 18 years with Lockton. She joins Lockton from AT&T, where she was an Assistant Vice President within the company's legal department. Previously, Romine was ... Read the full article
Price increases to continue but at reduced rate: WTW
8th December 2022
A new report from WTW says that recent trends suggest rate increases will continue, albeit at a ‘materially reduced’ rate. The report, called the Spring 2023 Insurance Marketplace Realities Report says that commercial insurance rates are beginning to stabilise, steered by cyber and D&O. Reduced rates, WTW said, are becoming increasingly available ... Read the full article
WTW adds Claims Advocate Sam Berry to Direct & Fac team
8th December 2022
Global advisory and broking solutions company WTW has announced the addition of Sam Berry to its Direct and Facultative team in London. Berry has been hired as new Claims Advocate. She brings two decades of experience handling North American property and casualty claims and joins WTW from BMS, where she served ... Read the full article
Zywave launches new solution for insurer & broker partnerships
8th December 2022
Insurtech leader, Zywave has launched a new solution for the insurance market aimed at enhancing the value delivered by insurers, MGAs, and third parties to the UK retail broker market. The offering is an extension to Zywave’s Broker Briefcase, a tool which is used to support brokers in their sales, marketing ... Read the full article
“Grip of the hard market is loosening”: WTW’s Jon Drummond
7th December 2022
Jon Drummond, Head of Broking, North America at insurance broker WTW, has claimed that the “grip of the hard market is loosening” despite some upward pressures across lines. Writing in the latest Marketplace Realities report from WTW, Drummond noted that the second half of 2022 has “ushered in a new environment ... Read the full article
WTW study finds developing ESG strategy a key focus for risk managers
7th December 2022
A recent WTW survey reported that more than half of risk managers are significantly involved in their organisation’s ESG efforts, though 77% believe they should take a more active role in ESG strategy and initiatives. In WTW's 2022 ESG Global Risk Managers Survey, which includes 312 corporate risk managers worldwide, one-third ... Read the full article
Insurers need to ensure they develop and use AI ethically: WTW’s Chapman
6th December 2022
Artificial Intelligence (AI) and machine learning is a growing topic within both the insurance and reinsurance industry, with more companies using the technology to manage manual, low complexity workflows and dramatically increase operational efficiency. The technology also allows the ability to predict with greater accuracy losses and the behaviour of customers, ... Read the full article
Aon appoints Karl DeGiovanni as director of client solutions for EMEA
6th December 2022
Aon has appointed Karl DeGiovanni as director of client solutions for EMEA. DeGiovanni made the announcement on LinkedIn where he also says that he has been with the firm for nearly fifteen years. Based in Malta, he will focus on insurance management and captive business in his new role at the firm. He ... Read the full article
Ardonagh acquires British broker The Professional Indemnity Company
6th December 2022
Ardonagh Advisory Holdings Ltd, a subsidiary of The Ardonagh Group, has acquired The Professional Broking Group Limited which trades as The Professional Indemnity Company. The business will operate as part of the wider Ardonagh Advisory platform which includes regional PI broker Alice Castle and Lloyd’s PI broker Hera Indemnity, as well ... Read the full article
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