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.
Capacity is adequate, demand is high: GC’s Peter Hearn
5th May 2021
Peter Hearn, Chief Executive Officer of reinsurance broker Guy Carpenter (GC), has maintained that, despite some moderation in pricing over Q1, reinsurance market capacity remains adequate, and demand is high. The Guy Carpenter global property catastrophe rate online index increased just under 5% at the January 1 reinsurance renewals. And similarly, for ... Read the full article
Corant names Paul Scope as Chairman of Bermuda operations
5th May 2021
Global brokerage and financial technology firm Corant Global has announced the appointment of Paul Scope as Chairman of its Bermuda operations with immediate effect. Scope brings over 40 years of industry experience to Corant and joins from Willis Bermuda where he has been chairman since 2015. Prior to that, he founded Park ... Read the full article
WTW establishes framework to support climate transition plans
4th May 2021
Re/insurance broker Willis Towers Watson (WTW) has announced the launch of Climate Transition Pathways (CTP), an accreditation framework that helps insurers and financial institutions to identify which organisations have transition plans aligned with the Paris Agreement. The CTP governance committee will work with independent third-party groups including Volans, a consultancy responsible ... Read the full article
Arthur J. Gallagher acquires Mutual Brokers
4th May 2021
Global insurance broker, Arthur J. Gallagher & Co. has acquired Canberra, Australian Capital Territory (ACT)-based Mutual Brokers. Mutual Brokers was founded in 1985 and is an independent broker serving a broad cross-section of commercial and small corporate clients in Canberra and the ACT. Its owners, Lou Pennetta and Adrian Dodd and the ... Read the full article
US April storms to drive $1bn+ loss: Aon
4th May 2021
Analysts at Aon have reported that the severe storms that impacted the US from April 23rd to 29th will cause total economic losses in excess of $1 billion, of which the majority will be insured. Storms affected the Southern Plains and Southeast, with tornado, large hail, and straight-line wind damage in ... Read the full article
EC pushes Aon / Willis Towers Watson merger decision date to August
3rd May 2021
The European Commission (EC) has further extended its deadline to come to a final decision on the Aon acquisition of rival broker and consultancy Willis Towers Watson (WTW), pushing the date into August. The European Commission's competition authority has been pouring over a proposed concessions package from Aon, with the insurance ... Read the full article
Ed hires Christina Ong from Howden to Chairman of Ed Asia role
3rd May 2021
Reinsurance, specialty and wholesale brokerage Ed, part of Corant and the broader BGC Partners group, has announced a key hire in Asia, appointing Christina Ong of Howden as its new Chairman of Ed Asia. Located in Singapore, Ong will join Ed Asia immediately and take up the Chairman role, bringing decades ... Read the full article
Aon’s organic reinsurance revenue growth slows to 6%
30th April 2021
Re/insurance broker Aon has reported overall revenue growth of 10% to $3.5 billion for the first quarter of 2021, including organic revenue growth of 6%. Its performance was aided by organic revenue growth in its Reinsurance Solutions business, which at 6% was still strong but well below the impressive rates that ... Read the full article
Arthur J. Gallagher earnings up on organic growth
30th April 2021
Re/insurance broker Arthur J. Gallagher & Co. has reported a 7% increase in net earnings during the first quarter of 2021, which stood at $393.7 million, versus $355.4 million for the same period last year. The result was lifted by 7% organic growth across the brokerage business, with total organic commissions, ... Read the full article
BGC reports record revenue for Corant unit
29th April 2021
Global brokerage and financial technology firm BGC Partners has reported record-high revenues of $52.4 million for its Corant Global business during the first quarter of 2021, up 16.8% on the same period last year. The Corant result helped to offset a 5.9% decrease in overall revenues for BGC, which stood at ... Read the full article
We have to separate Florida from rest of portfolio: Guy Carp CEO Hearn
29th April 2021
Speaking during the Marsh McLennan first-quarter 2021 earnings call, CEO of reinsurance broking arm Guy Carpenter, Peter Hearn commented that at the upcoming mid-year reinsurance renewals, Florida will have to be separated from other business. Hearn said: “We have to separate Florida from the rest of our portfolio because it’s a ... Read the full article
Willis Towers Watson sees Q1 revenue climb to $2.6bn on organic growth
29th April 2021
Insurance and reinsurance broker Willis Towers Watson (WTW) has reported an encouraging start to the year with total revenue growth of 5% to $2.6 billion, with organic growth of 4% and constant currency growth of 1%. Revenue spiked for the broker in Q1 2021 from the $2.47 billion reported in Q1 ... Read the full article
Aon / WTW combination to gain EU antitrust approval: Reuters
28th April 2021
Sources have told Reuters that re/insurance broker Aon will gain conditional EU antitrust approval for its pending $30 billion mega-merger with Willis Towers Watson (WTW) without having to propose additional concessions. Reuters reported yesterday that the European Commission (EC) was seeking feedback from rivals and customers about who is the most ... Read the full article
Global insurtech investment hits record $2.55bn in Q1: WTW
28th April 2021
New data from re/insurance broker Willis Towers Watson (WTW) shows that global investment in the insurtech sector reached a new quarterly high of $2.55 billion during the first quarter of 2021. This included eight so-called ‘mega-rounds’, which was more than in any other three-month period, analysts found, and which accounted for ... Read the full article
“Disruption” from Aon – WTW merger an MMC growth driver, CEO Glaser suggests
27th April 2021
Global insurance brokerage Marsh McLennan may already be benefiting from new hires and clients gained as a result of the still impending Aon and Willis Towers Watson (WTW) merger, CEO Dan Glaser suggested today. During the Marsh McLennan (MMC) first-quarter 2021 earnings call that finished just recently, CEO Dan Glaser discussed ... Read the full article