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.
BMS Re acquires Trean Intermediaries
9th July 2021
The US reinsurance arm of specialist broker BMS has acquired Trean Intermediaries (Trean), the US-based independent reinsurance broker and services company. Trean specialises in workers’ compensation, property and casualty, accident and health, personal auto, public entity, and professional liability lines for insurer and MGA clients. The acquisition has been made to strengthen ... Read the full article
Aon / WTW merger cleared by European Commission
9th July 2021
The ongoing merger between re/insurance broking giants Aon and Willis Towers Watson has cleared a significant hurdle today with breaking news of the deal’s approval by the European Commission. The approval is described as conditional on full compliance with a substantial set of commitments offered by Aon, including the divestment of ... Read the full article
Aon partners with insurtech Walbing on trade credit marketplace
8th July 2021
Re/insurance broker Aon has partnered with Hamburg-based fintech Walbing on the establishment of a service tailored for syndicated trade credit insurance. Those wanting to secure coverage will receive an offer directly via the new marketplace, with the respective contract concluded through Aon’s One Underwriting Agency. “In the midst of the corona pandemic, ... Read the full article
Guy Carpenter announces two senior hires
8th July 2021
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has appointed Matt Petka as Managing Director and Riley Underwood as Senior Vice President within its GC Access business unit. Petka will assume a senior leadership role within GC Access, where he will be responsible for overseeing solution development and client management. Alongside ... Read the full article
Discipline holding as market balance returns: Willis Re’s Vickers
7th July 2021
James Vickers, Chairman of Willis Re International, has said that “discipline is still there,” even as the latest edition of the broker’s 1st View Report shows that recent reinsurance price increases have brought the market close to equilibrium. Speaking in an interview with Reinsurance News, Vickers noted that the reinsurance market ... Read the full article
BMS Re opts for Relay’s F1 electronic placement system
7th July 2021
The US reinsurance arm of specialist broker BMS has selected Relay’s F1 electronic placement system to support its push for further growth across the sector. The broker portal combines a range of features designed to increase the ease of doing business, facilitate and integrate quotes from all reinsurers, and reduce the ... Read the full article
Miller names new Head of Renewable Energy and Environmental Technology
7th July 2021
Re/insurance broker Miller has appointed Rhys Newland as Head of Renewable Energy and Environmental Technology. Newland joined the company at the beginning of this month, and reports to Martin Henderson, Head of Energy. The newly created position signals Miller’s commitment to the fast-moving renewable energy sector as it continues to make high ... Read the full article
Guy Carpenter launches new climate advisory & modelling services
7th July 2021
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has announced the launch of a suite of advisory and modelling services to help clients integrate climate change strategies into their Environmental, Social and Governance (ESG) programs. Key services include natural hazard risk assessment and risk modelling, exposure data enhancement, and adjustment ... Read the full article
Lockton Re adds WTW’s Kazimierz Layton to Specialty unit
7th July 2021
Lockton Re, the global reinsurance broking arm of Lockton, has announced that later this year, Kazimierz Layton will be joining its Specialty Division. For more than 15 years, Layton has been working in the Political Risk and Credit Insurance broking sector. Most recently, he served as an Executive Director at insurance broker ... Read the full article
Aon / WTW US antitrust trial to begin in November, possibly later
7th July 2021
A federal judge has told global brokers Aon and Willis Towers Watson (WTW) that their trial versus the Antitrust Division of the U.S. Department of Justice (DoJ) is unable to commence before November and could be delayed further owing to a backlog of cases. After the DoJ proposed a trial ... Read the full article
UPC Insurance estimates $40mn Q2 cat loss
5th July 2021
Property and casualty holding company UPC Insurance incurred around $40 million in pre-tax natural catastrophe losses during the second quarter of 2021, approximately $31 million after tax. The company’s estimated catastrophe losses includes claims from two new tropical storms and fourteen new PCS catastrophe events that occurred during the second ... Read the full article
Charterhouse announces sale of broking subsidiary Siaci
5th July 2021
Private equity firm Charterhouse has entered into exclusive negotiations to sell Siaci Saint Honoré, a leading global B2B insurance brokerage, to a consortium of investors led by Burrus Group. This deal will prompt the formation of a newly combined group, one which will contain an independent European ... Read the full article
Gallagher acquires Edelweiss Insurance Brokers
5th July 2021
Arthur J. Gallagher & Co has purchased the remaining shares of Edelweiss Insurance Brokers Limited from Edelweiss Financial Services Limited, following a minority investment in 2019. The deal is subject to approval by the Insurance Regulatory and Development Authority of India. Terms of the transaction were not disclosed. Headquartered in Mumbai, with ... Read the full article
Howden declares a ‘digital pandemic’ as ransomware attacks rise 170%
5th July 2021
Insurance broker Howden has released a report examining today’s cyber insurance market, one it says is being driven by rampant ransomware attacks, higher rates and shifting regulation. Declaring a ‘digital pandemic’, Howden says ransomware is now the predominant cyber threat confronting businesses of all sizes, with 170% more attacks having taken ... Read the full article
Lockton Re hires Showvanik Dasgupta as Senior Broker, P&C
2nd July 2021
Lockton Re, the reinsurance arm of the global brokerage, has appointed Showvanik Dasgupta as Senior Broker in its International P&C division in London. Showvanik is a Fellow of the Institute of Actuaries with experience across the insurance market having spent time at Beach Re, Tokio Millennium Re and Aspen Re where ... Read the full article