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.
COVID fixation compromising insurers’ long-term goals: Aon
27th October 2021
A new study by Aon has warned that a focus on resolving the immediate challenges posed by the COVID-19 pandemic may be compromising re/insurers’ longer-term plans and goals. The 2021 edition of Aon’s Global Risk Management Survey found that cyber risk topped the list as the number one current and predicted ... Read the full article
WTW names Chuck Shay as Risk & Broking Leader for West Region
27th October 2021
Re/insurance broker Willis Towers Watson (WTW) has announced that Chuck Shay has been appointed as Head of Risk & Broking for the Western region of North America. Shay is an industry veteran with over 25 years experience who previously led the WTW FINEX practice in both the Midwest and West regions. Prior ... Read the full article
Insurtech set for record-breaking 2021 as investment tops $10.5bn, reports WTW
27th October 2021
2021 has now overseen a record-breaking $10.5 billion in insurtech investment raised during the first three quarters, according to a Willis Towers Watson (WTW) report. In fact, a further $12 million will ensure 2021 equals the amount of capital invested during the entirety of 2018 and 2019 combined. WTW’s report states that ... Read the full article
Gallagher looks to develop in Middle East & Africa with energy hire
27th October 2021
Re/insurance broker Gallagher has announced plans to further develop its energy proposition in the Middle East and Africa with the addition of William Peilow as a partner in its Specialty energy team. Peilow joins from Willis Towers Watson (WTW) and brings existing relationships with risk managers, insurance and reinsurance companies in ... Read the full article
Insurance pricing up 15% in Q3, led by cyber: Marsh
26th October 2021
Global commercial insurance prices increased by 15% in the third quarter of 2021, according to the latest Global Insurance Market Index released by re/insurance broker Marsh. It marks the 16th consecutive quarter of increases, but rates have continued to moderate in many lines of business and most geographies, suggesting that pricing ... Read the full article
WTW appoints Fox Carney as climate transition advisor
25th October 2021
Re/insurance broker Willis Towers Watson has appointed Diana Fox Carney to the climate, resilience and ESG solutions teams within its Climate Resilience Hub, which serves corporates and public sector institutions in North America and worldwide. As a development economist, Fox Carney developed early insights on global sustainability risks and the challenges ... Read the full article
US employer medical costs set to increase 5% next year: Aon
22nd October 2021
Re/insurance broker Aon has predicted that costs for large US employers that pay for their employees' medical care will increase on average 5% to more than $13,000 per employee in 2022. Aon notes that employer health plan costs and medical claims were suppressed for most employers in 2020 due to the ... Read the full article
Aon appoints Aspen’s Tim Aman to lead Re Solutions’ US actuarial team
21st October 2021
Re/insurance broker Aon has added Tim Aman to lead the US actuarial team within its Reinsurance Solutions business as an executive managing director. He reports to Brian Alvers, Global Chief Actuary and head of Casualty Analytics. Aman will be based in New York and focus primarily on building the team’s commercial client ... Read the full article
Acrisure expands into Brazil via It’sSeg takeover
21st October 2021
Insurance broker and fintech services provider Acrisure has announced plans to acquire It’sSeg, the largest independent benefit management and insurance broking firm in Brazil. The deal marks Acrisure’s entry into the Brazilian market and represents a substantial expansion of its Latin American operations. Founded in 2014 by Thomaz Menezes and the private ... Read the full article
Howden acquires Bermudian broker Foram
21st October 2021
International insurance broker Howden has announced the acquisition of Bermuda-based Foram Brokerage as the firm looks to demonstrate its commitment to the Bermudian market. An independent re/insurance broker, Foram provides speciality services in Casualty, Energy, Professional Lines, Construction, Product Recall, Property and Healthcare lines. The purchase is considered complementary to Howden’s existing ... Read the full article
WTW bolsters Southeast and Mid-Atlantic FINEX teams
21st October 2021
Re/insurance broker Willis Towers Watson (WTW) has announced several senior appointments within its Financial, Executive and Professional Risks (FINEX) teams for the Southeast and Mid-Atlantic regions. Samuel Stern has been appointed as Director, Southeast FINEX Commercial Team Leader, reporting into Chris LoRe, Senior Director, Commercial East leader. Stern will be responsible for ... Read the full article
Guy Carpenter’s underlying revenue up 15% as Marsh hails outstanding quarter
21st October 2021
Reinsurance broker Guy Carpenter has reported a 15% rise in underlying revenue to $314 million for the third quarter of 2021, as its parent Marsh McLennan delivered impressive year-on-year growth. Buoyed by revenue growth across the business, global insurance and reinsurance brokerage Marsh McLennan has reported an increase in underlying revenue ... Read the full article
Guy Carpenter sets up insurtech Center of Excellence
20th October 2021
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has announced the launch of an insurtech Center of Excellence (COE) that will provide services to carriers and Managing General Agents (MGAs) powered through modern technology platforms. The insurtech COE will offer a range of reinsurance broking, advisory and analytical services, and ... Read the full article
Lockton launches business-focused silent cyber property solution
19th October 2021
Independent insurance broker Lockton has launched its Silent Cyber Property Solution, a standalone policy that covers businesses against property damage and ensuing time element losses resulting from cyber-attacks or cyber terrorism. The broad form policy blends the standard wording found in both property and cyber policy forms. It can be purchased through ... Read the full article
Brokers expected to outperform carriers in Q3, KBW analysis indicates
19th October 2021
KBW analysts’ forecast for the third quarter results season are generally below consensus for the carriers and slightly above consensus for the brokers. Carrier estimate’s have been primarily driven by higher catastrophe losses, while broker’s are anticipated to achieve faster organic revenue growth. Notwithstanding slowly decelerating rate increases, analysts state that most ... Read the full article
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