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.
Arthur J. Gallagher buys Hawley & Associates
16th March 2022
Arthur J. Gallagher has bought broker firm Hawley & Associates for an undisclosed amount. A statement from Arthur J. Gallagher said that Hawley & Associates was founded seventeen years ago to provide insurance services for adoption, foster care, and child welfare agencies. The business will continue to be run by Phil ... Read the full article
Kremlin prohibits re/insurance transactions with “unfriendly states”
15th March 2022
As Russia's invasion of Ukraine enters day 20, President Vladimir Putin has signed a law prohibiting insurers in the country from completing transactions with insurers, reinsurers, and broker firms from what it calls "unfriendly states". The move from the Russian Parliament comes in response to a wave of economic sanctions imposed ... Read the full article
Lockton Australia launches a new advisory business
14th March 2022
Independent insurance brokerage firm, Lockton Australia, has announced the launch of its new business unit – Lockton Advisory. Lockton Advisory will aim to deliver risk, capital and placement services to the (re)insurance industry, as well as to corporate clients requiring bespoke insurance products across Australia, New Zealand and Pacific. The CEO of ... Read the full article
Edelweiss completes integration into Gallagher
14th March 2022
Edelweiss Gallagher will now just be known as Gallagher. The rebranding completes the integration of Edelweiss Insurance Brokers into Gallagher, a process that began in 2019 when the latter bought a minority share in the firm from Edelweiss Group. Then, last year, Gallagher purchased the remaining shares in the ... Read the full article
Aon & WTW both pull business from Russia
14th March 2022
Broking giants Aon and WTW have both announced plans to withdraw all businesses from Russia, in response to the country’s invasion of Ukraine. Following the lead of Marsh McLennan last week, this means the world’s three largest insurance brokers have now all severed ties with Russia. Insurers such as Generali ... Read the full article
Transaction risk insurance boomed in 2021: Marsh
14th March 2022
Firms around the world turned increasingly to transactional risk insurance last year, according to a new report from Marsh. The report, Transactional Risk Insurance 2021: Year in Review states that the transactional risk insurance limits placed globally by Marsh Specialty in 2021 totaled $81.1bn, an increase of 73% over the previous ... Read the full article
Aon appoints new chief strategy officer capital advisory
11th March 2022
Aon has appointed a new chief strategy officer capital advisory in Jim Fiore. The move was announced on LinkedIn by Fiore. His previous role was as chief reinsurance officer at QBE Insurance Group. Fiore joins Aon after almost three decades with QBE where he held numerous roles during his tenure, including as ... Read the full article
Marsh McLennan pulls out of Russia
10th March 2022
Global insurance broking and risk management firm Marsh McLennan has announced that it plans to exit all of its businesses in Russia. President and CEO Dan Glaser explained that the company felt “compelled” to sever all ties with Russia following its invasion of Ukraine. Western nations have already imposed tough economic sanctions ... Read the full article
Marsh makes new appointments within its Affinity business
10th March 2022
Marsh has appointed Rebecca Bleek, Leo Gibbons, and Sam Suen to new roles within its Affinity business. According to the broker firm, Bleek will be Affinity leader in the MENA region, while Gibbons and Suen will be placement leader and business digital strategy leader for International Affinity. Phil Hobson, Affinity Leader, International, ... Read the full article
US commercial prices up 7% through Q4: WTW
10th March 2022
U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS), with the aggregate commercial price change measured at 7%. The survey compared prices charged on policies underwritten during the fourth quarter of 2021 with those charged for the same ... Read the full article
Howden overhauls global management team
10th March 2022
Broker firm Howden has overhauled its global management team in the wake of its acquisition of Aston Lark. According to the firm Chris Evans has been promoted to deputy CEO of Howden Broking in a new role, while Alistair Barrett will become the company’s COO. Rebecca Scott will become chief ... Read the full article
WTW names David Singh as Head of Climate Analytics
9th March 2022
WTW has appointed David Singh as Head of Climate Analytics and Exposure Management for its Insurance Consulting and Technology business, where he will be based in London. Singh served as the Group Head of Exposure & Portfolio Management at global insurer MS Amlin, where he was responsible for the group’s risk ... Read the full article
Howden M&A appoints new directors
8th March 2022
Howden M&A has appointed James Kay and Simon Worker as directors. The company said that it had bolstered its APAC broking team in response to growth in deals I the region and a surging demand for M&A insurance. Kay began his role in Singapore on 1 March. Prior to joining Howden, he ... Read the full article
Aon updates Impact Forecasting Europe windstorm cat model
8th March 2022
Aon has updated the functionality of its Impact Forecasting Europe windstorm catastrophe model, following insights gained from outbreaks of severe weather in recent years as well as user feedback. Windstorms in Europe have caused $123 billion of insured losses and annual average losses of $3.0 billion since 1980, according to the ... Read the full article
Gallagher and MIG Group launch new business in Dubai
8th March 2022
Gallagher has launched a new business in the Dubai International Finance Centre (DIFC) to support clients across the Middle East and Africa with their specialty and facultative reinsurance solutions. The business will be the rebranded ACE Re, which is now owned by Gallagher (51%) and MIG Group (49%). According to Gallagher, ... Read the full article
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