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.
WTW, WWF target greater nat cat resilience in Fiji & Papua New Guinea
14th June 2021
Re/insurance broker Willis Tower Watson has announced a project to help support the climate adaptation and financial resilience of coastal communities in Fiji and Papua New Guinea (PNG) vulnerable to the impacts of climate change, including major shock events. The project, launched in partnership with the World Wide Fund for Nature ... Read the full article
US insurers face multi-billion-dollar payout over May storms: Aon
11th June 2021
Re/insurance broker Aon has reported that US re/insurers will likely face a multi-billion-dollar payout over a series of convective storms in May that resulted in extensive hail, tornado, wind and flood damage. Of note was a severe storm that swept across the Plains, Lower and Middle Mississippi Valley, Southeast and Mid-Atlantic ... Read the full article
Oneglobal Broking hires Mark Jenner as Chairman of Energy
11th June 2021
Oneglobal Broking, the commercial re/insurance brokerage owned by investor JC Flowers, has appointed Mark Jenner as Chairman of Energy to strengthen its energy expertise. Jenner brings over 30 years in the energy insurance sector, joining from Howden where he was Executive Director of the Energy Division. Prior to this he had a ... Read the full article
Data is the biggest barrier when addressing climate risk: WTW
11th June 2021
According to a new survey by Willis Towers Watson (WTW), the availability of data is the biggest test firms expect to face over the next five years in order to address climate risk. The survey was created to gain insights on progress made to assess and manage the impact of climate ... Read the full article
WTW reports uptick in commercial insurance rates through Q1
10th June 2021
US commercial insurance prices increased again during the first quarter of 2021, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) by broker Willis Towers Watson (WTW). The survey compared prices charged on policies underwritten during the first quarter of 2021 to those charged for the same coverage and quarter ... Read the full article
Alliant closes merger with personal lines insurer Confie
9th June 2021
Alliant Insurance Services, the specialty insurance brokerage firm, has completed its merger agreement with US personal lines distributer Confie. Announced in April 2021, the deal brings Confie’s personal insurance brands, more than 3,500 employees, and in excess of 1 million customers under the Alliant banner. Confie was founded in 2008 and ... Read the full article
Lockton Re hires Ollie Jones as Broker, Marine & Energy
9th June 2021
Lockton Re, the reinsurance arm of global brokerage Lockton, has appointed Ollie Jones as a Broker, and will be based in the London office as part of the Marine & Energy Division. Jones will join from Guy Carpenter where he was most recently Vice President in the Global Marine & Energy ... Read the full article
TigerRisk names Jonathon D’Arcy as CFO
8th June 2021
Global insurance and reinsurance brokerage, TigerRisk Partners LLC, has announced that Jonathon D’Arcy will succeed Milan Radonich as the company's new Chief Financial Officer (CFO). D’Arcy joins TigerRisk from private equity startup in cyber risk analytics and insurance, ARCEO.AI, where he served as CFO. Earlier in his career, he spent 23 years ... Read the full article
Lockton appoints director Melanie Cruz to Central America fac team
8th June 2021
Independent insurance broker Lockton has appoionted Melanie Cruz as a director within its Caribbean and Central American Facultative team. Cruz will be based in Puerto Rico and oversee Lockton’s offering within the Central American market. She brings over 12 years’ experience to the role, including time at ceding companies and multinational insurers. Prior ... Read the full article
McGill and Partners hires Aon’s Warren Mula to support US growth plans
8th June 2021
Insurance broker McGill and Partners has added Warren Mula as a Strategic Advisor and Non-Executive Director of McGill Global Risk Solutions. Mula will look to support this growth with a particular focus on the specialist broker’s US plans; encompassing talent, clients, markets and intermediary partners. He joins after 40 years’ service with ... Read the full article
BMS hires Mark Aylward as Managing Director of London DUA
8th June 2021
BMS, the independent specialist insurance and reinsurance broker, has appointed Mark Aylward as Managing Director of its newly structured London Delegated Underwriting Authority (DUA) and Programmes division. He will lead BMS's expansion in the sector, primarily in the US and will report to Hannah Watkins, Managing Director, BMS Re. Aylward brings over ... Read the full article
Tom Wakefield leaves Aon to become CEO of Gallagher Re
7th June 2021
Tom Wakefield, previously of Aon, has been announced as the new Chief Executive Officer (CEO) of Gallagher Re, the reinsurance arm of the global brokerage, subject to regulatory approval. Wakefield takes over as CEO of the reinsurance broker from Simon Behagg, who will transition to the role of Managing Director of ... Read the full article
Guy Carpenter forecasts above normal tropical cyclone activity
7th June 2021
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has published its annual briefing on the 2021 Western North Pacific Basic Tropical Cyclone season. According to the briefing, the number of tropical cyclones forecast to form between April 1 and September 30 is above normal. Near- to above-normal activity is consistent with ... Read the full article
IFRS 17 to cost global insurance industry as much as $20bn: WTW
7th June 2021
The implementation of IFRS 17, the International Financial Reporting Standard that was issued by the International Accounting Standards Board, is estimated to cost the global insurance industry as much as $20 billion, according to a survey by Willis Towers Watson (WTW). The global insurance and reinsurance broker recently polled 312 carriers ... Read the full article
WTW announces parametric cover for Mesoamerican Coral Reef system
4th June 2021
Re/insurance broker Willis Tower Watson has partnered with the Mesoamerican Reef Fund on the development and implementation of insurance solutions aimed at protecting and restoring the 1,000km reef system along the Caribbean coast post-hurricane. The parametric insurance covers hurricane risk to the critically endangered Mesoamerican Reef (MAR) and the communities dependent ... Read the full article
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