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.
Brown & Brown to acquire Orchid & CrossCover
28th February 2022
Global insurance brokerage Brown & Brown has entered into an agreement to acquire Orchid Underwriters Agency and CrossCover Insurance Services. Established in 1998, Orchid is a specialty underwriter of catastrophe-exposed property insurance for homeowners in coastal zones and for high net worth customers. The Orchid management team partnered with industry veteran, Scott ... Read the full article
Jim O’Neill joins McGriff’s Executive Risk Advisors Group
28th February 2022
McGriff, an insurance broking subsidiary of the Truist Insurance Holdings group, has announced the appointment of Jim O’Neill as a Senior Vice President and New York City-based producer in the firm’s Executive Risk Advisors group. O’Neill joins McGriff with nearly 40 years of experience as an underwriter and broker working with ... Read the full article
Gallagher Re reshuffles Australia team with senior appointments
25th February 2022
Global reinsurance broker Gallagher Re has made changes within its Australia operations with a raft of new hires led by the appointment of a new Chief Executive Officer (CEO). Heather Bone has been appointed as CEO from March, where she will lead the company’s operations in the country, working closely with ... Read the full article
Lockton Re appoints new North American casualty facultative leader
25th February 2022
Lockton Re has appointed Craig Wadman as its new North American casualty facultative leader. In his new role, Wadman will report to Rob McNamara, North American facultative leader for the company. McNamara said: “We are continuing to bring in high-caliber hires, which will amplify and strengthen our facultative presence and capabilities in ... Read the full article
Aon appoints leaders for SSI practice in North America
25th February 2022
Re/insurance broker Aon has announced it has formalized its Strategic Solutions and Innovation (SSI) practice within Commercial Risk Solutions in North America, with Ward Ching and Michael Gruetzmacher set to spearhead the practice. Ching serves as Head of Strategic Solutions and Innovation and Gruetzmacher as Head of Alternative Risk Transfer and ... Read the full article
Gallagher Re names new executive vice president in North America
24th February 2022
Gallagher Re has hired Megan McConnell to be its new executive vice president in North America. McConnell will begin her new role in Boulder, Colorado at the beginning of March. She will be joining from Hiscox, where she was CUO. Jim Bradshaw, CEO of North America, Gallagher Re, said: “We are ... Read the full article
Parametrics an “attractive & complementary” alternative: McGill and Partners
22nd February 2022
Parametric triggers in risk transfer can be a powerful tool, offering an effective way for insureds and reinsureds to secure responsive coverage that can be an “attractive and complementary” alternative to indemnity-based products, senior executives at specialty insurance broker, McGill and Partners, told us recently. Transparency is a key factor in ... Read the full article
Cyber reinsurance premium to exceed property cat in decade beyond 2030: Gallagher Re
22nd February 2022
Analysis by global reinsurance broker, Gallagher Re, finds that by 2040 the cyber market will become comparable in size to either property or casualty as the segment experiences a second wave of growth from 2023. Gallagher Re's cyber reinsurance team has published a new white paper, CY-FI: the Future of Cyber ... Read the full article
ABIR welcomes Aon as new member
21st February 2022
Aon has joined the Association of Bermuda Insurers and Reinsurers (ABIR). A statement from ABIR said that Aon was joining Marsh McLennan/Guy Carpenter, Willis Towers Watson, and Lockton Re on ABIR’s Broker Advisory Cabinet, a body that allows for collaborative efforts among Bermuda's leading re/insurers and brokers. Recently, ABIR reported ... Read the full article
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
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