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.
Rate increases persist, reflecting losses and low returns: Marsh McLennan CEO
31st January 2022
In the property and casualty (P&C) insurance market, rate increases have persisted and reflect elevated losses, low returns, concerns about inflation, and a firming reinsurance market, reported Dan Glaser, President and Chief Executive Officer (CEO) at Marsh McLennan (MMC). During the broker's Q4 earnings call, he explained that the Marsh Global ... Read the full article
Is pension scheme derisking heading into a boon year in 2022?
31st January 2022
WTW has posited that pension scheme derisking will have a boon year in 2022, according to a new report the company has put out this week. The work, WTW’s de-risking report 2022 titled A Bright Future Ahead, predicts that this year will be the fourth in a row that bulk annuities ... Read the full article
Gallagher saw renewal premium releases top 8% in Q4 2021
28th January 2022
Illinois-based Arthur J. Gallagher saw renewal premium releases go up 8% in Q4 2021, a result which the firm said was ‘broadly consistent’ with the first three quarters of the year. The firm revealed that retail renewal premiums had gone up between 7% and 9% across North America, Australia, New Zealand, ... Read the full article
WTW sets up cybercrime task force
28th January 2022
Re/insurance broker WTW has announced the formation of its CyberCrime task force within its Financial, Executive and Professional Risks (FINEX) global practice. The objectives of the task force include tailoring traditional or alternative risk transfer solutions for client’s enterprise risk management objectives, as well as identifying and advising on emerging risks ... Read the full article
Swiss businesses to rebrand as Gallagher
27th January 2022
Hesse & Partner and Verbag will operate under the Gallagher brand from Monday. The firms, which were bought by Gallagher in 2018 and 2019, are understood to continue operating as normal, but will now operate under the Gallagher brand in Switzerland. In a press release, Gallagher said this completed the integration of ... Read the full article
Guy Carpenter contributes to strong revenue growth at Marsh McLennan
27th January 2022
Global insurance broker Marsh McLennan has reported "one of the finest results" in its history with underlying revenue growth of 10% for both the fourth quarter and full year 2021, supported by 5% growth at Guy Carpenter, its reinsurance arm. Year-on-year, consolidated revenue increased by 16%, or 10% on an underlying ... Read the full article
Geraghty named MD of Intl. & Ireland division at Bishopsgate
26th January 2022
Bishopsgate has announced that Conor Geraghty will join its leadership team as Managing Director of the newly formed International and Ireland division. He will report to Bishopsgate CEO Graham Kilby, initially focusing on the Republic of Ireland and Australasia, with ambitions to build out into continental Europe through 2022 and beyond. Geraghty ... Read the full article
Global insured losses topped $100bn again in 2021: Aon
25th January 2022
Global insured losses from weather and climate-related events reached roughly $130bn in 2021, according to Aon’s 2021 Weather, Climate and Catastrophe Insight. The report, which the insurer has just released, outlines how global insured losses topped more than $100bn for the fourth time in five years. This figure also managed to ... Read the full article
Marsh and Risilience collaborate on informing customers about climate change
25th January 2022
Marsh and Risilience are to collaborate on a risk platform to help the former’s clients understand the risks resulting from climate change. The project, done through Risilience’s risk platform, will reportedly help clients map their journey towards net zero and help them generate annual climate risk reports that fall into line ... Read the full article
Lisa Varley joins Aon
25th January 2022
Lisa Varley has joined Aon as a senior consultant in the risk settlement team. Varley is joining from Aviva, where she was a bulk annuity deal manager. Martin Bird, senior partner and head of risk settlement at Aon, said: “It’s vital that schemes have access to people with the right knowledge and ... Read the full article
Aon adds Whelan & Stewart to UK operations leadership team
24th January 2022
Re/insurance broker Aon has bolstered its operations leadership team in the UK with the appointments of Katy Whelan as London Chief Operating Officer(COO) and Charles Stewart as Head of Strategy, Planning and Implementation, Aon Business Services (ABS), UK. They are both based in London and will report to Nathan Shanaghy, Aon ... Read the full article
Net zero goals top LIIBA’s agenda for 2022
24th January 2022
The London and International Insurance Brokers’ Association (LIIBA) has highlighted the issue of how to achieve net zero goals as one of its key goals for 2022, as leaders brace for another year of change at an “unprecedented pace.” In its agenda for this year, LIIBA said that the government’s desire ... Read the full article
Lou Smith to lead WTW’s Consulting and Technology business
24th January 2022
WTW has has appointed Lou Smith to the company’s Insurance Consulting and Technology business, where she will lead the unit’s Commercial Lines data strategy and expand its digital trading capability. Smith most recently served as the first Chief Digital Officer at Lloyd’s of London, holding the responsibility for shaping and delivering ... Read the full article
Howden acquires Italian firm Tower
24th January 2022
Broking company Howden has bought the Italian broking and risk consultants Tower. This is another acquisition of an Italian company by Howden, following the firm’s deal to take on Andrea Scagliarini in July last year. Howden’s newest acquisition specialises in the jewellery sector and is based in Vicenza. Luigi Sturani, regional CEO ... Read the full article
Aon’s Stefan Weda to join WTW as leader of CRB Benelux
21st January 2022
Stefan Weda has joined insurance and reinsurance broker, WTW, from rival Aon as the new leader of the company's Corporate Risk & Broking (CRB) operation for the Benelux countries. Effective May 1st, Weda takes on responsibility for accelerating growth in the CRB markets across the region, and for leading the Benelux ... Read the full article