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.
BMS appoints Price Forbes & Partners duo as directors of marine division
28th July 2021
Independent specialist re/insurance broker BMS has added Nick Hocking and Tony Cuthbertson as directors of its marine division, effective immediately. They report to John Hoare, managing director of BMS marine, and will be based in London. Hocking re-joins BMS after more than a decade at Price Forbes & Partners, having most recently ... Read the full article
DoJ hails ‘victory for competition’ as Aon CEO laments poor timing
27th July 2021
Attorney General Merrick B. Garland has hailed the breakdown of the proposed combination of Aon and Willis Towers Watson (WTW) as a "victory for competition and for American businesses", as Aon CEO Greg Case notes poor timing and factors outside of their control. After filing a civil antitrust lawsuit to block ... Read the full article
Oneglobal adds Dennis Mahoney as Chairman
27th July 2021
Oneglobal Broking has announced that former Insurance Institute of London President Dennis Mahoney will join as Chairman with immediate effect. Following his retirement as Chairman of Aon Global, Mahoney served on the Board of Ironshore prior to its sale to Liberty Mutual. Jonathan Palmer-Brown, Oneglobal Chairman commented, “As Oneglobal's ambitious growth plans ... Read the full article
Gallagher confirms termination of deal to acquire certain WTW assets
27th July 2021
Arthur J. Gallagher & Co. has confirmed that its agreement to acquire certain assets of Willis Towers Watson (WTW) has been terminated owing to the collapse of the $30 billion combination of Aon and WTW. As Aon and WTW attempted to get their proposed merger over the line amid an array ... Read the full article
Willis Towers Watson looks to return Aon merger termination fee to shareholders
27th July 2021
It appears global re/insurance broker, Willis Towers Watson (WTW), has decided to return its Aon merger termination fee to shareholders, increasing its share repurchase program by $1 billion. After news broke yesterday that Aon and WTW decided to scrap their $30 billion mega-merger plans, Aon said that it would be ... Read the full article
Ardonagh Europe launches in Dublin
26th July 2021
UK intermediary Ardonagh Group has announced the establishment of its new Dublin-based arm, Ardonagh Europe, as the firm looks to take its buy-and-build model to the continent. The new division will form part of the Ardonagh International segment and will operate alongside Ardonagh Global Partners, which launched back in April ... Read the full article
GRP to acquire WTW’s Northern Ireland portfolio
26th July 2021
Global Risk Partners (GRP) has entered into an agreement with Willis Towers Watson (WTW) to acquire the latter's commercial risk and broking business in Northern Ireland. On completion, the £57 million gross written premium (GWP) portfolio will be integrated into ABL Group, GRP’s Northern Ireland brokerage, with ABL’s CEO Maurice Boyd ... Read the full article
Tremor’s growth exceeds expectations as all major brokers adopt platform
22nd July 2021
Expansive programmatic re/insurance risk transfer marketplace, Tremor, has now secured agreements with eight major reinsurance brokers representing more than 95% of global placements. Since the introduction of its next generation trading platform, Panorama™ in February, Tremor's growth has exceeded expectations. In June, Tremor reported that insurers leveraging its platform sought ... Read the full article
Guy Carpenter’s revenue rises to $488m in Q2 as MMC reports higher income
22nd July 2021
International insurance brokerage, Marsh McLennan (MMC), saw its consolidated revenue rise to $5 billion in the second-quarter of 2021, supported by an increase in revenue at its reinsurance arm, Guy Carpenter. For Q2 2021, MMC's consolidated revenue spiked by 20% when compared with the prior year period and, on an underlying ... Read the full article
Global reinsurance capital unchanged through Q1: Aon
21st July 2021
Aon has reported that the level of global reinsurance capital remained unchanged through the first quarter of 2021, relative to the end of 2020, as growth in alternative capital offset a small reduction in traditional capital. The broker's Reinsurance Market Outlook report estimates that global reinsurer capital totalled $650 billion at ... Read the full article
Newfront and ABD to combine into $1.35bn valued firm
19th July 2021
Tech-enabled broker Newfront Insurance has announced plans to merger with ABD Insurance and Financial Services into a combined entity that will be valued at $1.35 billion. The combination with ABD, which focuses on employee benefits, insurance and financial services, will bring together 600 employees, serve over 10,000 clients, and place more ... Read the full article
Ardonagh Group hires Neil Higgins to lead fac reinsurance at Inver Re
19th July 2021
The Ardonagh Group has named Neil Higgins, previously of Miller, as Head of Facultative Reinsurance at Inver Re, its recently launched reinsurance brokerage. In his new role, Higgins takes on oversight of the creation of a client centric, strategic, flexible and market-neutral approach to facultative reinsurance solutions. He joins Inver Re from ... Read the full article
Aon appoints Thompson to lead broking in EMEA region
16th July 2021
Re/insurance broker Aon has added Tracie Thompson as Chief Broking Officer for the EMEA region, excluding the UK. Thompson’s appointment is effective immediately and will see her report to Hugo Wegbrans, Global CBO, and Eduardo Dávila, CEO of Commercial Risk, Health and Affinity in EMEA (excluding UK). Based in Madrid, she will ... Read the full article
Miller hires Debbie Hobbs as Head of Cyber, Tech & Media
15th July 2021
Independent specialist re/insurance broker Miller has announced the appointment of Debbie Hobbs as Head of Cyber, Technology & Media. Hobbs joins from cyber MGA EmergIn Risk and will concentrate on growing Miller’s cyber, tech and media book. She will report into Head of Delegated Authorities & Professional Risks, Tim Norman. Tim Norman commented ... Read the full article
Howden launches climate risk, resilience division
15th July 2021
International insurance group Howden has announced the launch of a climate risk and resilience division, set to be led by Charlie Langdale. The team will focus on risk transfer products designed to help accelerate and de-risk the move towards a low carbon economy, as well as mitigate the results of climate ... Read the full article
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