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.
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
Bailey replaces Jeffreys as chair of Aon UK Board
6th December 2022
Aon has announced that Marshall Bailey OBE, CFA, will replace Simon Jeffreys as non-executive chair of the Aon UK Limited Board, effective 31 January 2023. Jeffreys, who joined the Board in May 2009, tenure in office ends in January, following a seven-year-long spell as chair. Julie Page, CEO of Aon UK, commented, ... Read the full article
Howden names Ivo Gugolz CEO for Reinsurance, Switzerland
6th December 2022
International insurance broker Howden has hired Ivo Gugolz from Aon, as its Chief Executive Officer for Reinsurance in Switzerland, to be effective April 1st 2023. According to the broker, Gugolz appointment signals a further European focus for Howden in reinsurance, as with this senior hire the company has secured a well-known ... Read the full article
Over 40% of UK commercial properties underinsured, reports Gallagher
6th December 2022
Re/insurance broker Gallagher has reported that more than two in five commercial properties in the UK are currently underinsured due to rising inflation and cost of materials. In research amongst business owners and commercial property claims managers, Gallagher found that the shortfall of underinsured properties was an average of 43% against ... Read the full article
BMS acquires Eisenar to boost Iberian expansion
6th December 2022
BMS has announced that it has signed a deal to acquire Spanish specialty insurance broker Eisenar in a move that will further bolster its Iberian regional expansion. Founded in 2001 by Eugenio Sanchez-Belda, Eisenar is headquartered in Seville and specialises in industrial risks and professional sports insurance, with Seville Football Club ... Read the full article
WTW names William Miller Head of Crisis Management for APAC
6th December 2022
Broking and solutions company WTW has announced the appointment of William Miller as the Head of Crisis Management, Asia Pacific, effective from the 1st of January 2023. In the new role, Miller will be based in Singapore and will oversee the new crisis management business in APAC, delivering its services and ... Read the full article
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