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.
Aon announces further $1.4bn divestment to appease US regulators
3rd June 2021
Re/insurance broker Aon has announced the sale of two businesses for a combined total consideration of $1.4 billion, during a week that has seen its acquisition of Willis Towers Watson scrutinised by the US Department of Justice (DOJ). As part of the newly-unveiled divestiture, Aon’s US retirement business will be ... Read the full article
Amwins Global Risks adds senior brokers to London, Amsterdam offices
2nd June 2021
Specialist re/insurance broking and risk management firm Amwins Global has announced the appointment of senior brokers Phil Johnson and Mark Ritson to its London office and Ewoud Dekker within its Amsterdam team. Johnson joins from Miller Insurance Services, where he served as head of international casualty. In his new role, Johnson will ... Read the full article
TigerRisk hires Bonner to lead Trade Credit, Surety, and Political Risk business
2nd June 2021
TigerRisk Partners has appointed Phil Bonner to lead its newly created global Trade Credit, Surety, and Political Risk business. Bonner will be based in London reporting to James Few, TigerRisk International's Chief Executive Officer. He will take up his appointment in June next year. Bringing over 30 years’ experience, he joins from ... Read the full article
Aon/WTW deal entering critical stage as US DOJ refuses to show its hand: reports
2nd June 2021
Reports emerging from specialist publisher The Capitol Forum describe The US Department of Justice (DOJ) as having adopted a dual-track strategy for its review of Aon's proposed acquisition of rival broker Willis Towers Watson. By simultaneously engaging in settlement talks and ensuring trial preparations are underway should it decide to mount ... Read the full article
Guy Carpenter names Brit’s David Arthur as Head Actuary, UK Non-Specialty
2nd June 2021
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has announced the hiring of David Arthur as Head Actuary for its UK Non-Specialty business, including Global Casualty, Accident & Health, UK Property and UK Motor. Effective October 2021, Arthur takes on responsibility for the oversight of all actuarial activities undertaken within ... Read the full article
Howden launches ESG-focused insurer, Parhelion
2nd June 2021
Global insurance broker Howden has announced the launch of Parhelion, a highly rated environmental, social and governance (ESG) focused, fully sustainable insurance carrier which aims to commence underwriting from January 1st, 2022. The new insurer is targeting a capital raise of USD 500 million and is being advised by Howden Capital ... Read the full article
WTW expands broker network in Spain
2nd June 2021
Willis Towers Watson has expanded its broker network in Spain with the addition of two new outfits. The two firms WTW's ‘Networks’ unit has incorporated include Azetek Asesores de Seguros in Vitoria and Correduría Segurcisa in Cádiz. The unit now has four associates in the Basque Country and 11 in Andalusia. There are ... Read the full article
Property cat rates up by 5-10% at June 1 reinsurance renewals: HX
1st June 2021
Risk-adjusted property catastrophe reinsurance rates increased by 5-10% on average at the June 1st, 2021 renewals as price momentum decelerated year-on-year, according to HX, the digital, analytics, and advisory unit of Howden Group Holdings. According to data available in financial and underwriting data platform, NOVA, reinsurance rate momentum remained at the ... Read the full article
Marsh promotes Desmond to lead UK & Ireland Construction Industry
1st June 2021
Insurance broker Marsh has appointed Andy Desmond as UK & Ireland Construction Industry Leader. In this role, Desmond will support Marsh's construction clients by bringing together the construction sector, technical, placement and risk management specialists from across Marsh UK’s national and London-based specialty businesses. Throughout his 25-year career, he has practiced as ... Read the full article
Marsh McLennan appoints Studer as President & CEO of Oliver Wyman
1st June 2021
Marsh McLennan has named Nick Studer as the new President and Chief Executive Officer (CEO) of international management consulting firm, Oliver Wyman Group, effective July 1st, 2021. Studer, who takes over from Scott McDonald, will also become a Vice Chair of Marsh McLennan and join the firm's Executive Committee. In his new ... Read the full article
Ballantyne adds Robert Ralf as Divisional Director, FL
26th May 2021
Independent London broker Ballantyne has announced the appointment of Robert Ralf as Divisional Director, Financial Lines, reporting to Richard Spragg, Co-Founder and Director of Broking. Ralf has worked for a number of leading brokers including Aon, AFL Broking Ltd and Ed Broking where he was Divisional Operating Officer for Specialty and ... Read the full article
BGC in $500mn sale of brokerage business to Ardonagh
26th May 2021
BGC Partners has entered into an agreement to sell its Insurance Brokerage business for $500 million to The Ardonagh Group. Ed Broking Group and Besso Insurance, recently grouped together under the brand of Corant Global, comprise of global wholesale and specialty re/insurance broker Ed, Lloyd’s broker Besso, aviation specialist Piiq Risk ... Read the full article
BMS launches operations in Turkey
26th May 2021
BMS, the independent specialist insurance and reinsurance broker, has announced the establishment of BMS Sigorta ve Reasürans Brokerliği A.Ş (BMS Turkey), a new unit headquartered in Istanbul. Chairman Servet Gurkan, together with Tamer Saka and Kerim Gurkan, will lead the new operation which will report in London to Peregrine Towneley, Chairman ... Read the full article
Organisations continue to overlook threats posed by emerging risks: Marsh
25th May 2021
A new report by insurance broker Marsh claims that the majority of large and midsize organisations continue to disregard the rising threat posed by a range of emerging risks, overlooking the impact these could have on their businesses. Based on a global survey of nearly 1,000 organisations, the report picked up ... Read the full article
New Zealand extends Aon / WTW merger decision to July
25th May 2021
The New Zealand (NZ) Commerce Commission has failed to reach a decision on whether to approve the merging of Aon and rival Willis Towers Watson (WTW) by its deadline of May 25th, so has extended the date a decision is due by to July 2nd. New Zealand's Commerce Commission had launched ... Read the full article