Reinsurance News
Reinsurance broking news
Reinsurance broker news, analysis and insight, covering reinsurance broker market 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.
One80 acquires Professional Risk Solutions
18th February 2022
Intermediary firm One80 has bought specialty wholesale brokerage firm Professional Risk Solutions (PRS) for an undisclosed amount. According to a statement from One80, PRS specializes in management liability for non-profit, for-profit, public entities, and publicly traded companies; professional liability, including lawyer’s professional and errors and omissions coverage for technology, architects, and ... Read the full article
WTW partners with Falvey Cargo Underwriting on cyber coverage
18th February 2022
Re/insurance broker WTW has announced a new affirmative cyber coverage product for cargo and stock throughput risks, which is the result of a collaboration with Falvey Cargo Underwriting, a Falvey Insurance Group company. According to WTW, the product will be the first standalone cargo cyber solution available in the insurance marketplace. Among ... Read the full article
Howden launches new Wildfire Excess Liability Lineslip
15th February 2022
International insurance broker Howden has launched a new Wildfire Excess Liability Lineslip (WELL) due to the increase in demand for insurance cover for contractors and subcontractors operating in wildfire-prone areas in the US, such as California, Washington, Oregon and Arizona. WELL will allow contractors engaged in wildfire-exposed areas of operations, such ... Read the full article
Marsh McLennan appoints new director
15th February 2022
Marsh McLennan has appointed Hafize Gaye Erkan as its new, fourteenth director. Ms Erkan’s appointment is due to begin at the beginning of March. H. Edward Hanway, Chairman of the Company’s Board of Directors, said in a statement: “Gaye has deep expertise in investments, risk management, growth markets and digital innovation. We ... Read the full article
Important to assess risk exposure as Ukraine tensions rise: McGill’s Greenwood
14th February 2022
As the situation in Ukraine intensifies, with mainstream media in the UK reporting that Russia is making serious preparations for an invasion, it's important that businesses assess their current risk exposures, according to Hamish Greenwood, Partner at global insurance broker, McGill and Partners. Despite situating some 100,000 soldiers on Ukraine's borders, ... Read the full article
Inflation is a longer-term positive for Aon, says CFO Davies
14th February 2022
Christa Davies, Chief Financial Officer (CFO) at Aon, has said that she considers inflation to be a positive trend for the re/insurance broker over the longer term. Speaking in a Q4 earnings calls, the executive acknowledged that in the short-term, inflation would inevitably have a financial impact on the business due ... Read the full article
Tysers appoints James Lucas as associate director
9th February 2022
Broker firm Tysers has appointed James Lucas to be its associate director in its political violence and terrorism team. Lucas will join from Aon Benfield where he is responsible for developing the Latin America and EMEA Terrorism and Political Violence solutions across Aon’s network. Jason Collins, co-head of global broking, markets and ... Read the full article
WTW reports 6% organic revenue growth for 2021
8th February 2022
Re/insurance broker WTW has reported organic revenue growth of 4% in the fourth quarter of 2021 and 6% for the full year, boosted by positive organic results within its Investment, Risk & Reinsurance (IRR) segment. The IRR segment posted huge organic change of 32% for the quarter and 16% for the ... Read the full article
Aon expecting single-digit growth in revenues this year
7th February 2022
Aon has predicted organic growth in its revenues in the mid-single digits or higher over this year. In an earnings call to reveal its Q4 earnings, Christa Davies, CFO of the re/insurance broker, said that this trend would not only be seen over 2022, but would extend over the long term. On ... Read the full article
Marsh Index shows commercial rates up 13% through Q4
4th February 2022
Global commercial insurance prices increased 13% in the fourth quarter of 2021, according to the latest Global Insurance Market Index released by re/insurance broker Marsh. Analysts noted that Q4 saw a continuation of the trend of moderating rate increases that began in the first quarter of last year. While this is the ... Read the full article
Gallagher Re reveals major catastrophe losses topped $116bn in 2021
3rd February 2022
Gallagher Re has revealed that insured losses from major catastrophes in 2021 have so far reached $116bn, which the broker said was the third largest in ten years. The figure was also reported by the reinsurance broker to be 63% higher than the average annual loss since 2011. Like the peak ... Read the full article
Lockton names Marsh’s Andy Conti as SVP, Complex Casualty
2nd February 2022
Global insurance broker Lockton has named Andy Conti as Senior Vice President, Complex Casualty, based in the firm’s Chicago office. Conti brings over 20 years of experience to Lockton with various roles in the industry ranging from leadership, growth and consulting. He joins from Marsh where he spent 17 years within the ... Read the full article
BMS names Ian Matheson as non-exec chairman, Canada
2nd February 2022
Insurance and reinsurance broker BMS has appointed Ian Matheson as a non-executive chairman of its Canadian operations, where he will support Brian Gomes, president and CEO of BMS Canada and the national leadership team. Prior to his new appointment, Matheson spent 15 years at Aon and its subsidiaries, where he held ... Read the full article
Marsh hires Latham as Alternative Risk Transfer Leader for UK&I
2nd February 2022
Re/insurance broker Marsh has announced the appointment of Matthew Latham as Alternative Risk Transfer Leader, UK & Ireland. In this role, he will advise clients on risk finance optimisation with a focus on alternative solutions including structured reinsurance, legacy transactions, and other bespoke insurance options. As part of Marsh’s UK Financial Solutions ... Read the full article
WTW hires Grimwade from Aon for Direct & Fac expansion
2nd February 2022
WTW has appointed Matt Grimwade to be its new client relationship director for large and complex risks. In his new position, Grimwade will be responsible for complex property placements for clients within the Global Markets Direct & Facultative Line of Business. He will provide clients with access to the global marketplace to ... Read the full article