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.
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
Insurers should adjust for current high-inflation environment: WTW
5th December 2022
A new note from WTW suggests that insurers should look at their reserving, investment, and pricing strategies, alongside their approach to portfolio management, in order to best place themselves in the current high-inflation environment. The article, ‘What does inflation mean for the insurance market?’, published on the WTW site, says that ... Read the full article
Marsh McLennan Agency acquires McDonald Zaring Insurance
5th December 2022
Marsh McLennan Agency (MMA), a subsidiary of Marsh, has announced the acquisition of McDonald Zaring Insurance (MZI), a US full-service agency located in Walla Walla, Washington. Terms of the acquisition were not disclosed. Founded in 1932, McDonald Zaring Insurance serves individuals and businesses across various industries and sizes, including agri-business, wineries, financial ... Read the full article
Allianz Commercial launches new model to support independent brokers
5th December 2022
Allianz Commercial has announced the launch of a new model to provide a consistent and tailored approach to broker relationships. In the new model, brokers will be segmented into three tiers - identified as Broker Partners, Prime Partners or Strategic Partners - and each will receive a unique package of support. Each ... Read the full article
Worldwide Broker Network hires Gyulaffyova as Global Network Coordinator
2nd December 2022
The Worldwide Broker Network (WBN), the world’s largest network of independent insurance brokers and employee benefits consultants, has appointed Alzbeta Gyulaffyova as Global Network Coordinator. Gyulaffyova, who will report to Global Operations, will help strengthen WBN’s leadership team, and add another level of dedication to the culture of care provided by ... Read the full article
TigerRisk warns of inconsistent climate conclusions from cat model indexing
2nd December 2022
Analysts at re/insurance risk, capital and strategic advisor TigerRisk Partners have warned that methods of indexing in catastrophe models can skew perspectives on recent loss trends and lead to “inconsistent conclusions” when it comes to the impact of climate change. In a recent report, the broker noted that there has been ... Read the full article
Aon hires John Morley as APAC growth leader in strategy & tech team
2nd December 2022
Aon has hired John Morley to be its Asia Pacific growth leader in its strategy and technology team. Morley’s role will become effective on 5 December and is joining the firm from EY, where he was an insurance consulting partner, having previously held roles at Accenture, KPMG, and Willis Towers Watson. He ... Read the full article
Howden & Fidelis study shows ESG ratings lead to improved underwriting
2nd December 2022
A joint study between international insurance broker, Howden and leading specialty insurer and reinsurer, Fidelis, shows that higher ESG ratings lead to better underwriting performance. The study of loss ratios across 30,000 policies from both Howden and Fidelis’ datasets, comprising a premium value of around $9 billion against third party ESG ... Read the full article
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