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Reinsurance broker news, analysis and insight, covering reinsurance broker market trends and opportunities.

U.S commercial insurance prices continue to rise in Q418, finds WTW

11th March 2019

A survey conducted by global re/insurance brokerage Willis Towers Watson (WTW) has found that U.S commercial insurance prices rose by just under 2% during the fourth quarter of 2018. WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS) compared prices charged on policies underwritten in Q418 to those charged for the same ... Read the full article

Chubb confirmed as lead insurer for Ethiopian Airlines crash, WTW as broker

11th March 2019

Reports have confirmed that Chubb was the lead underwriter on the account for the Ethiopian Airlines jet that crashed on 10 March, while Willis Towers Watson (WTW) acted as the insurance broker. A WTW spokeswoman revealed today that Chubb and WTW would be liable for losses resulting from the crash, which ... Read the full article

CRC Group partners with AMRISC on new Insurisk property products

11th March 2019

U.S wholesale broker CRC Group has partnered with sister company AMRISC, LLC to build, develop and underwrite property programs for CRC producers to distribute. The partnership will build products under the Insurisk name, which CRC announced as the new brand name for its exclusive products. The first new product, called Insurisk CAT+, ... Read the full article

Lockton forms reinsurance business, names leadership

8th March 2019

Re/insurance broker Lockton has moved to form a new global reinsurance business, Lockton Global Re. Lockton has stated that reinsurance is a critical pillar of its aggressive growth plan and this new business will, under the leadership of the firm’s Chief Executive Officer Ron Lockton, look to build out its current ... Read the full article

Marsh launches intellectual property solution

8th March 2019

Global re/insurance broker Marsh has launched an insurance solution specifically tailored to address risks associated with an organisation’s intellectual property (IP). IP Protect is a proprietary Marsh policy backed by Ambridge Partners, a managing general underwriter of transactional, complex management liability, and intellectual property insurance products. “As the importance of IP rights ... Read the full article

Marsh adds AIG’s Bauer to lead U.S Sharing Economy, Mobility Practice

7th March 2019

International re/insurance brokerage Marsh has appointed Robert Bauer to lead its U.S Sharing Economy & Mobility Practice. Bauer joins from AIG where he served as General Insurance Head of Innovation and its Sharing Economy Group. In his new role Bauer will focus on developing and delivering products and services to companies operating ... Read the full article

Lockton hires JLT’s Philip Corrigan as COO for Asia Pacific

7th March 2019

Global insurance and reinsurance broker Lockton has announced the appointment of Philip Corrigan as Chief Operations Officer (COO) for the Asia-Pacific (APAC) region. Corrigan arrives from Jardine Lloyd Thomson (JLT), where he has spent most of his 30-year career, having most recently served as Chief Executive Officer (CEO) of JLT Thailand. He ... Read the full article

Willis Towers Watson announces senior appointments to NA division

7th March 2019

Global insurance and reinsurance broker Willis Towers Watson (WTW) has announced the appointments of Linde Hotchkiss, Nicole Johnson and George Haitsch to senior positions for its Western region in North America (NA). Hotchkiss will lead WTW’s Regional Large Account strategy for the West, based in San Diego, CA. She will be responsible ... Read the full article

Ryan Specialty Group completes acquisition of Westphalen

6th March 2019

Ryan Specialty Group has completed its previously announced acquisition of Westphalen Insurance Services Inc., an independently owned wholesale insurance brokerage located in Edmond, Oklahoma. The Westphalen team now forms part of R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group, and will establish the company’s presence in Oklahoma. Founded in ... Read the full article

Aon does not intend to pursue Willis Towers Watson deal

6th March 2019

Re/insurance brokerage Aon has now confirmed that it does not intend to pursue a deal to acquire rival broker Willis Towers Watson (WTW). Media reports emerged yesterday claiming that Aon was in early discussions with WTW about a potential acquisition. Aon then confirmed then it was in the early ... Read the full article

WTW partners with InsurTech massUP

6th March 2019

Global re/insurance broker Willis Towers Watson (WTW) has partnered with German InsurTech massUP with the aim of developing new insurance products and solutions. The strategic partnership, which is hoped will also enable the integration of technological processes and includes joint international distribution, follows existing collaboration efforts between massUp and Willis Re, ... Read the full article

Aon confirms consideration to acquire Willis Towers Watson

6th March 2019

Insurance and reinsurance broker Aon has confirmed that it is in the initial stages of considering an offer to acquire Willis Towers Watson (WTW). Reports emerged yesterday that Aon had held preliminary talks with WTW over a potential deal that would see the combination of two of the world's largest ... Read the full article

Aon is considering an offer to buy Willis Towers Watson, reports Bloomberg

5th March 2019

Global insurance and reinsurance broker Aon is reportedly in talks to acquire rival broker Willis Towers Watson (WTW), according to a Bloomberg report, which cites people familiar with the matter. Bloomberg reports that Aon is considering the purchase of WTW, and is preparing to submit an offer in the coming weeks. According ... Read the full article

JLT’s Howett to become Marsh Ireland CEO; Grogan made Exec Chairman

5th March 2019

The Managing Director of JLT Ireland Patrick Howett is to become the Chief Executive Officer of Marsh Ireland upon the completion of Marsh & McLennan Companies’ previously-announced $5.6 billion acquisition of JLT Group. Meanwhile, Joe Grogan has been appointed Executive Chairman of Marsh Ireland. Both Howett and Grogan will be based in ... Read the full article

Ryan Specialty completes Myron Steves acquisition

4th March 2019

International specialty insurer Ryan Specialty Group has completed its previously-announced agreement to acquire the assets and operations of Myron F. Steves & Company, a Houston-based independent wholesale insurance brokerage. The Myron Steves team has become part of R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group, expanding the company’s presence ... Read the full article

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