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.
Lockton hires two MDs for Pacific region
17th May 2021
Lockton Insurance Brokers has appointed Harpreet Ubhi and Reid Eanes as Managing Directors to lead the Lockton Financial Services Practice (LFS). Ubhi and Eanes collectively bring over 30 years of industry experience, specialising in directors & officers liability, employment practices liability, corporate governance risk management, private equity and corporate acquisitions across ... Read the full article
SRG hires Eastham as Managing Partner and Head of M&A team
17th May 2021
Insurance brokerage Specialist Risk Group (SRG) has appointed Nikki Eastham as Managing Partner and Head of its M&A team. Eastham joins after a 12-year career at PWC, where she was most recently a Director of the M&A team. She has a range of experience within strategic advisory, deal origination, target engagement, diligence, ... Read the full article
Guy Carpenter names Tres as lead of Strategic Risk & Capital Life Solutions, EMEA
17th May 2021
Guy Carpenter, the reinsurance arm of global brokerage Marsh McLennan, has hired Luca Tres as Head of Strategic Risk and Capital Life Solutions, EMEA, effective June 1st, 2021. In his new role, Tres takes on responsibility for driving continued growth in both the development and delivery of non-traditional life solutions to ... Read the full article
Aston Lark adds Bethan Jones to newly-created Integration Director role
17th May 2021
Chartered insurance broker Aston Lark has promoted Bethan Jones to the newly created role of Integration Director, with responsibility for ensuring the successful integration of all acquired companies. Jones joined Aston Lark in 2017 before being appointed to its board in 2019. She provides leadership across the firm’s Project Office and Applications ... Read the full article
Willis Re’s data & analytics capabilities take Gallagher to ‘another level’, says CEO
13th May 2021
Arthur J. Gallagher's (Gallagher) agreement to acquire the majority of reinsurance broker Willis Re will take the company's data and analytics capabilities to new heights, according to J. Patrick Gallagher, Jr., Chairman, President and Chief Executive Officer (CEO). Alongside other Willis Towers Watson (WTW) assets, Gallagher is poised to purchase ... Read the full article
Fitch maintains Aon, WTW ratings despite asset divestiture agreement
13th May 2021
Fitch Ratings views Willis Towers Watson’s recently announced divestiture agreement as neutral to the Long-Term Issuer Default Ratings (IDRs) of both itself and Aon. Willis Re and certain other corporate risk, broking and benefits services are all included as part of the companies' attempt to satisfy various regulatory requirements The deal, ... Read the full article
Gallagher to non-disruptively absorb WTW assets, says S&P
13th May 2021
S&P Global Ratings believes Gallagher will successfully and non-disruptively absorb the various businesses it’s set to purchase from Willis Towers Watson, prior to the latter's much-anticipated mega merger with fellow broking powerhouse Aon. The various subsidiaries, being sold to satisfy European Commission competition concerns, include Willis Re, UK specialty, as ... Read the full article
Aon, Willis & Mercer join sustainable investing group
13th May 2021
Fourteen institutional investment consulting firms in the US, including Aon, Willis Towers Watson (WTW) and Mercer, have established a joint working group to advance sustainable investing. Aon Hewitt Investment Consulting, WTW, and Mercer, which forms part of broker Marsh McLennan, will aim to support clients by promoting and improving sustainable investment ... Read the full article
Acquisition of WTW assets will ‘accelerate’ Gallagher’s long-term strategy, says CEO
12th May 2021
With global brokerage Arthur J. Gallagher set to acquire certain assets of Willis Towers Watson (WTW), including Willis Re, the company expects to significantly expand its global value proposition in reinsurance as well as its global footprint in other parts of the business. Aon and WTW announced today an agreement ... Read the full article
US insurers face multi-billion-dollar bill for April storms: Aon
12th May 2021
Analysts at re/insurance broker Aon estimate that the US insurance industry faces a multi-billion-dollar bill for thunderstorm-related claims payouts over the month of April. As we previously reported, Aon expects economic losses of more than $1 billion dollars from just the San Antonio (TX), Fort Worth (TX), and Norman (OK) ... Read the full article
Aon & WTW agree $3.57bn sale of certain assets to Gallagher
12th May 2021
Global re/insurance brokers Aon and Willis Towers Watson (WTW) have signed a definitive agreement to sell Willis Re and a number of other WTW assets to Arthur J. Gallagher & Co. (Gallagher), for a total consideration of $3.57 billion. The announcement comes as the pair look to satisfy the European Commission's ... Read the full article
Colonial Pipeline cyber attack a wakeup call: McGill & Partners
11th May 2021
Analysts at specialist insurance broker McGill & Partners have said that the recent cyber attack on Colonial Pipeline should serve as a “wakeup call to organisations all over the world.” Last week’s ransomware attack on the largest fuel pipeline in the US took the service offline over the weekend, causing major ... Read the full article
Near-term outlook on aviation industry “bleak”, says McGill and Partners
10th May 2021
Insurance broker McGill and Partners has described the aviation industry's near-term outlook as bleak, noting the differing vaccination efforts by world's governments and geographically varied return of passenger demand In 2020 the industry reported losses of $118 billion, with demand down 65.9% against 2019. Furthermore, McGill and Partners reports that nearly 17,000 ... Read the full article
Lockton hires Dane Lupe as SVP, Pacific
10th May 2021
Global re/insurance broker Lockton has appointed private equity specialist Dane Lupe to its Pacific region as Senior Vice President, Producer. Based in Los Angeles, Lupe will be partnering with private equity and commercial real estate firms to provide guidance in proactively mitigating, transferring and insuring their risk. Lupe has over 13 years ... Read the full article
AJ Gallagher in talks to acquire $3bn portfolio of Aon and WTW assets: Bloomberg
10th May 2021
Global insurance broker Arthur J. Gallagher is in talks with Aon and Willis Towers Watson (WTW) over the potential acquisition of a portfolio of assets, which includes Willis Re, reports Bloomberg. Bloomberg, citing people familiar with the matter, has reported that an agreement could be reached in the coming weeks. According to ... Read the full article