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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.

Downstream energy sector to see turnaround after years of losses: WTW

23rd November 2018

Price increases in the downstream energy re/insurance sector are now inevitable after years of unprofitable returns and major losses, according to re/insurance broker Willis Towers Watson (WTW). The November 2018 edition of the firm’s Energy Market Review noted that 2017 was the second worst underwriting year on record for the sector ... Read the full article

Wildfire losses to surpass $10bn as property toll reaches 20,000 mark: Aon

23rd November 2018

As the number of properties destroyed by the recent Camp and Woolsey Wildfires in California reaches 20,152, re/insurance broker Aon has claimed that the total economic impact is likely to “minimally exceed US $10 billion; likely higher,” with a majority of these losses covered by re/insurers. While Aon stipulated that it ... Read the full article

Commercial insurance pricing continues to rise at Q3: Marsh

23rd November 2018

Average commercial insurance prices rose by just over 1% over the third quarter of 2018, marking the fourth consecutive quarter of pricing increases for the sector, according to the latest Global Insurance Market Index by re/insurance broker Marsh. The pricing trend has largely been driven by increases in property and financial ... Read the full article

Burns & Wilcox partners with cyber security firm

21st November 2018

Burns & Wilcox, the North American wholesale insurance broker and underwriting manager, has announced a partnership with BreachAware, a London-based cyber security firm. The partnership will provide B&W customers with a proprietary risk mitigation tool that scans the web 24/7 and identifies compromised assets such as company email addresses, passwords, and ... Read the full article

Aon appoints Guy Carpenter’s Richard Jones as Exec Chairman, Reinsurance Solutions

21st November 2018

Re/insurance broker Aon has appointed Richard Jones as Executive Chairman of its Reinsurance Solutions business in Asia, effective May 2019. Jones most recently served as Chairman of Asia Pacific at Guy Carpenter, where he spent 31 years working across a variety of roles. His new, Singapore-based role, will see him take responsibility ... Read the full article

Broker usage of PPL is widening significantly: LIIBA CEO Croft

20th November 2018

Adoption of the London Market Group’s (LMG) Placing Platform Limited (PPL) has been widening significantly among re/insurance brokers, according to Christopher Croft, Chief Executive Officer (CEO) of the London & International Insurance Brokers’ Association (LIIBA). Croft noted that the number of brokers using PPL has increased by 25% over the last ... Read the full article

Willis Towers Watson appoints Senior Director for Consulting and Technology

20th November 2018

Global insurance and reinsurance broker Willis Towers Watson (WTW) has expanded its analytics and digital transformation team with the appointment of Iain Whittingham as a Senior Director in the company’s Insurance Consulting and Technology business. Whittingham joins WTW from FTI Consulting, where he most recently served as Managing Director for Global ... Read the full article

Willis Towers Watson launches cyber solution for airports

19th November 2018

Global insurance and reinsurance broker, Willis Towers Watson (WTW), has announced the launch of a new innovative cyber solution for airports, called CyFly for Airports. The constantly evolving and growing cyber threat has seen cyber and digital risks become a top concern for the airports of today. In response, WTW has ... Read the full article

Australian life sector looks to reinsurance to ease pressure: Guy Carpenter

19th November 2018

The life insurance sector in Australia and New Zealand is increasingly looking to reinsurance as a strategic capital management tool to alleviate the pressure from regulatory requirements, shareholders, and foreign investment, according to a report from reinsurance broker Guy Carpenter. Matthew Rose, Managing Director at Guy Carpenter, noted that the underlying ... Read the full article

Willis Towers Watson opens new operations in Kazakhstan

16th November 2018

Global insurance and reinsurance broker Willis Towers Watson (WTW) is targeting market growth in Kazakhstan with the launch of a new operation to serve clients in the country. The broker had previously operated in Kazakhstan through a smaller representative office, but recent regulatory approval now allows it to conduct insurance and ... Read the full article

Willis Towers Watson welcomes IFRS 17 delay

15th November 2018

Global insurance and reinsurance broker Willis Towers Watson welcomes this week’s decision by the International Accounting Standards Board (IASB) to introduce a one-year deferral of the mandatory effective date for the International Financial Reporting Standards (IFRS17) to 1 January 2022. The new accounting standard had originally been planned for 1 ... Read the full article

Theresa May’s Brexit plan draws mixed reaction, market access still a concern

15th November 2018

Theresa May’s draft EU withdrawal agreement has drawn a mixed reaction from players in the broking and insurance sectors, with the matter of equivalence continuing to stir uncertainty and perpetuate passporting concerns for intermediaries. Christopher Croft, Chief Executive Officer of LIIBA said today in a statement that, while it is encouraging ... Read the full article

WTW launches claims benchmarking solution

15th November 2018

Global re/insurance broker Willis Towers Watson has announced the launch of Claim Metrics, a bespoke claims benchmarking solution for UK personal lines insurers. WTW says the service provides claims leaders with a tool for identifying performance improvements, as well as offering underwriters, pricing teams, actuaries and senior management vital insights into profitability ... Read the full article

BMS appoints Price Forbes’ Duncan Hayward as energy division Director

13th November 2018

Independent specialist re/insurance broker BMS Group Limited has announced the appointment of Duncan Hayward as a Director in its energy division, effective 2019. Hayward, who will lead the casualty initiative within the division, joins with 14 years’ experience in the insurance market, most recently serving as a Divisional Director at Price ... Read the full article

JLT Re Iberia launched after broker buys out Banca March partnership

13th November 2018

JLT Re, the reinsurance broking arm of JLT Group, has reinforced its connection with clients in the Latin America region with the launch of JLT Re Iberia through the acquisition of JLT March Re. Reinsurance broker JLT Re has further invested in its European platform with the launch of JLT Re ... Read the full article

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