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.
Howden forecasts tempered rates for some areas in 2022
7th January 2022
Analysts at Howden are expecting to see “further and accelerated rate tempering in 2022” despite a January 1 renewal period that was largely defined by continued price increases. The broker says higher rates and improved underwriting margins are likely to continue to attract new capital in 2022, although this is unlikely ... Read the full article
Material variances, but property retro prices rise at Jan renewals: GC
7th January 2022
With 2021 being affected by catastrophe events, property retrocession renewals experienced price increases in both aggregate and occurrence products at 1/1, according to reinsurance broker Guy Carpenter. As expected, the largest changes were in loss-affected accounts as well as low-lying aggregate placements following reductions in available capacity, says Guy Carpenter. The broker ... Read the full article
Polish insurance market needs surety reinsurance support: Smartt Re
7th January 2022
Smartt Re CEO Tomasz Libront believes the Polish insurance market needs to open up to wider cooperation with foreign reinsurance markets in order to gain capacity for large construction projects. The broker notes that the combined involvement of banks and insurance companies in the Polish construction sector has exceeded PLN 50 ... Read the full article
WTW names Powney as Head of Surety for UK
6th January 2022
Re/insurance broker Willis Towers Watson (WTW) has announced the appointment of Steve Powney as Surety Practice Leader for Europe and the UK. Powney was previously Head of International Surety at Crum and Forster and has lead surety operations for Asia, Europe and the Middle East. His responsibilities include underwriting, production and operational ... Read the full article
Lloyd’s & London Market see stable conditions at 1/1: Gallagher Re
6th January 2022
Analysts at Gallagher Re have reported that Lloyd’s and the London Market experienced more stable conditions than were seen last year during the January 1, 2022 renewals, despite being generally quite late to market. In its 1st View report on the critical renewal period, Gallagher Re observed “mixed outcomes” for ... Read the full article
Price increases top 30% on some loss-impacted lines at 1/1: GC
5th January 2022
Analysts at Guy Carpenter have observed reinsurance pricing increases of over 30% on some loss-impacted business at the crucial January renewal period. The broker’s Global Property Catastrophe Rate-on-Line Index increased 10.8% year-on-year, and found that structure adjustments, particularly on retentions, were more prevalent in heavier loss-impacted sectors. While pricing exhibited a wide ... Read the full article
Global M&A activity to remain strong in 2022 after a record year: WTW
5th January 2022
Re/insurance broker Willis Towers Watson (WTW) expects global merger and acquisition (M&A) activity to remain strong in 2022 after a record number of deals completed with a value of more than $100 million last year. The latest research from WTW's Quarterly Deal Performance Monitor, run in partnership with the M&A Research ... Read the full article
COVID-19 the third costliest catastrophe event for re/insurers, says Howden
5th January 2022
Insurance and reinsurance industry losses from the COVID-19 pandemic up to the end of the third quarter of 2021 near $45 billion, making it the third most expensive catastrophe event for the industry, according to broker Howden's reinsurance renewals report. Behind only 9/11 and Hurricane Katrina (the most expensive insured loss ... Read the full article
Insurance agents have a positive outlook for 2022: Aon Programs
4th January 2022
According to a new survey from Aon Programs, an Aon Affinity business that helps agents and brokers develop tailored insurance portfolios, the majority of insurance agents have a positive outlook for 2022. Around 70% of the participating agents expect their business growth to be on track in the new year, while ... Read the full article
WTW names Chris Heinicke as Head of Casualty, Bermuda
4th January 2022
Global insurance and reinsurance brokerage, Willis Towers Watson has appointed Chris Heinicke as Head of Casualty in Bermuda, reporting into Kirsten Beasley, Head of Office, Bermuda. Heinicke joins Willis Towers Watson from Aon Bermuda, where he served as the Managing Director and Team Leader, overseeing the casualty broking unit. He will be ... Read the full article
Risk landscape reshaped by ‘megatrends’ at Jan 1: Howden
4th January 2022
Analysts at Howden have observed a “reset” in the reinsurance risk landscape during the January 1st renewals, as a series of ‘megatrends’ upped the complexity of an already complicated underwriting environment. Reporting on the critical renewal period, the broker argues that the insurance macro-fundamental environment is clearly shifting, with higher inflation, ... Read the full article
Will Cheney joins TigerRisk as Partner
4th January 2022
Experienced reinsurance broker Will Cheney has joined TigerRisk Partners LLC as Partner, with a focus on reinsurance, capital and strategic advisory for the firm's largest property accounts. In his new role, Cheney will be based in Boston, Massachusetts and reports to Wade Gulbransen, Head of North America at TigerRisk. With a focus ... Read the full article
Total reinsurance capital up almost 3% to $534bn in 2021: Guy Carpenter
4th January 2022
Total dedicated reinsurance capital increased by 2.8% from the end of 2020 to end 2021 at $534 billion, driven by growth in both traditional and alternative capital, according to reinsurance broker Guy Carpenter and ratings agency, AM. Best. The almost 3% growth in dedicated reinsurance capital from the $519 billion reported ... Read the full article
BMS Re adds Juan Carlos Gomez as EVP of LatAm & Caribbean
4th January 2022
Specialist reinsurance broker BMS Re has announced the hiring of Juan Carlos Gomez as Executive Vice President (EVP) of BMS Re Latin America & Caribbean, effective immediately. In this newly created role, Gomez will be based in London and reports to Aidan Pope, Executive Chairman & Chief Executive Officer (CEO), BMS ... Read the full article
Mixed outcomes for reinsurers at “challenging” Jan 1 renewals: Gallagher Re
4th January 2022
Analysts at Gallagher Re have reported that the January 1 reinsurance renewals concluded with a “wide range of outcomes” as a push for improved pricing resulted in a tense round of negotiations. The broker noted that most reinsurers were determined to seek further price increases at 1/1 after hopes of a ... Read the full article
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