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 releases upgraded version of ResQ reserving software
9th May 2022
Insurance and reinsurance broker, WTW, has announced the launch of the newest version of its industry-leading loss reserving and financial reporting software, ResQ. ResQ 5.3 introduces a number of new features including ResQ Agent Processing, a new capability that represents a major evolution of the ResQ Enterprise Processing Engine. ResQ Agent Processing ... Read the full article
Aon and Paypal partner on digital insurance program
5th May 2022
Aon and PayPal Holdings have partnered on a digital initiative to help PayPal's small business customers in the US obtain insurance in the same ecosystem used to manage their payments. The digital insurance program will enable PayPal's small business customers in the US to shop for, purchase and manage insurance coverage ... Read the full article
Marsh launches renewable energy facility for solar & BESS risks
5th May 2022
Re/insurance broker Marsh has announced the launch of a new renewable energy facility that provides dedicated insurance capacity for mid-scale solar and battery energy storage system (BESS) risks in the US and Canada. Marsh notes that renewable energy companies have been challenged to find enough capacity for smaller standalone solar and ... Read the full article
Insurtech investment broke records in 2021 – Gallagher Re
4th May 2022
Global investment in insurtech breached $15.8bn in 2021, according to Gallagher Re’s Global Insurtech Report. The figure, said Gallagher Re, was the highest on record and more than 2019 and 2020 combined. The firm said that over the course of 2021, some $9.4bn was invested into Property & Casualty InsurTechs, with the ... Read the full article
Re/insurance markets challenging for buyers despite moderation: MMC
29th April 2022
John Doyle, Group President and Chief Operating Officer at broking firm Marsh McLennan (MMC), has said that the insurance and reinsurance markets remain broadly “challenging” for its clients despite some recent deceleration in pricing. Speaking during an MMC Q1 earnings call, Doyle said that, while rate increases had moderated recently, buyers ... Read the full article
Aon reports strong Q1 as Reinsurance Solutions delivers 7% organic growth
29th April 2022
Aon's Reinsurance Solutions unit witnessed a 6% rise in revenue in the first-quarter of 2022 to $976 million, as the broker reports organic revenue growth of 8% across the business in the period. At $3.7 billion, insurance and reinsurance broker Aon's total revenue increased by 4% in Q1 2022 when compared ... Read the full article
Global reinsurance capital hit new high of $675bn in 2021: Aon
29th April 2022
Broker Aon estimates that global reinsurer capital increased by almost 4% through year end 2021 to $675 billion, driven by growth in traditional capital, slightly offset by a decline in alternative capital. The year-end 2021 figure from Aon represents growth of more than 2% from the $660 billion the firm ... Read the full article
Commercial insurance prices increased 11% in Q1 2022: Marsh
28th April 2022
Marsh’s latest Global Insurance Market Index shows that commercial insurance prices around the world increased 11% in Q1 2022. Amongst its findings, the survey found that cyber insurance rates continued to rise driven largely by the continued increase in the frequency and severity of ransomware claims with many insurers seeking to ... Read the full article
WTW targets organic growth despite Q1 revenue dip
28th April 2022
Re/insurance broker WTW has reported revenue of $2.16 billion for the first quarter of 2022, representing a decrease of 3% compared with the $2.23 billion it reported for the same period last year. However, on an organic basis, revenue increased by 2%, and WTW continues to target “mid-single digit” organic revenue ... Read the full article
Howden, Munich Re & Skyline develop parametric solution for Jamaican farmers
27th April 2022
Broker Howden has partnered with global reinsurer Munich Re and Skyline Partners, a private-equity funded UK insurtech, to develop a parametric insurance solution designed to protect farmers in Jamaica from extreme weather events. With farming being the main the source of income for roughly 18% of the Jamaican population, adverse weather ... Read the full article
C3 Risk & Insurance Services elected as partner by Assurex Global
27th April 2022
San Diego-based specialty insurance brokerage, C3 Risk & Insurance Services has announced its membership in Assurex Global – the worlds largest privately held commercial insurance, risk management and employee benefits brokerage group. C3 will maintain its autonomy as a locally owned, privately held brokerage, but its membership in Assurex Global will ... Read the full article
Lockton positions for growth with new international leadership structure
25th April 2022
Insurance and reinsurance broker Lockton has made some changes to its international leadership, including the appointment of EJ Hentenaar as Chief Executive Officer (CEO) of Europe as Chris Brown takes on the role of President of Lockton International. Hentenaar currently serves as Head of Global Financial Risks at Lockton and assumes ... Read the full article
McGill and Partners appoints Andy Hill as partner in its structured solutions team
25th April 2022
McGill and Partners has appointed Andy Hill to be a partner in its structured solutions team. The firm said it was hiring Hill from DARAG Group, where he has been serving as group COO. Hill’s focus in his new role will be on retrospective solutions, helping clients to achieve capital and operational ... Read the full article
Guy Carpenter’s revenue jumps 11% in the first-quarter of 2022
21st April 2022
Marsh McLennan's (MMC) reinsurance broking arm, Guy Carpenter, has reported an 11% rise in underlying revenue in the first-quarter of 2022 to $999 million, as its parent reports consolidated revenue of $5.5 billion for the period. Revenue growth at Guy Carpenter supported total Q1 2022 revenue of $3.5 billion within MMC's ... Read the full article
Aon sets up IP-based funding for self-ordering tech firm
21st April 2022
Aon has set up a $35 million intellectual property (IP) based funding arrangement for GRUBBRR, a provider of self-ordering technologies, creating an IP-collateralized debt structure that enabled the firm to raise additional funds through debt. Headquartered in Boca Raton, Florida, GRUBBRR’s technologies include kiosks, mobile ordering, POS, online ordering, KDS and ... Read the full article
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