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.
US weather drives $1bn+ industry loss in March: Aon
12th April 2021
Re/insurance broker Aon has estimated that insured catastrophe losses are likely to exceed $1 billion in March, following an active month for severe weather in the US. Weather outbreaks in the US included hail, flooding and a total of 122 tornadoes, which was the highest monthly count since 2017. Of these, ... Read the full article
Aon / WTW: Concessions show willingness to complete partial deal, say analysts
12th April 2021
In offering deal-related concessions to the European Commission, Aon and Willis Towers Watson have shown their “willingness to complete even a partial deal,” according to equity analysts at Keefe Bruyette & Woods (KBW). As we reported earlier this morning, the European Commission has restarted the clock on the Aon and ... Read the full article
Honan launches reinsurance broking unit, Honan Re
12th April 2021
Commercial broker Honan Insurance Group has announced the launch of Honan Re, a new unit that will offer facultative reinsurance solutions to the organisation’s insurance partners. Based in Singapore, Honan Re will commence operations this week, led by Honan Asia’s Managing Director Eliza White. Executive Chairman Damien Honan commented on the launch: ... Read the full article
Aon / Willis Towers Watson: EC restarts clock as concessions offered
12th April 2021
The European Commission (EC) has restarted the clock on its investigation into the proposed combination of Aon and Willis Towers Watson (WTW), after concessions were submitted on April 9th, but the deadline for completion has now been pushed into the second-half of the year. The regulators have been looking into the ... Read the full article
Willis Re views industry capital levels as resilient
9th April 2021
A new report from Willis Re has examined the capitalization of re/insurers in the US and European markets, concluding that both have proved resilient to the challenges of the pandemic. In the US, Willis Re found that P&C companies continued to show very strong risk-adjusted capitalization scores despite the increase in ... Read the full article
Gallagher adds WTW’s Alex Ross as public sector account director
8th April 2021
International insurance broker Gallagher has announced the appointment of Alex Ross as account director in the firm’s public sector team. Ross will report to Mark Whittingham, who leads the public sector team in Gallagher’s Southampton office, as part of a team supporting a portfolio of clients which includes blue-light organisations, local ... Read the full article
Aston Lark acquires DNA Insurance Services
8th April 2021
Aston Lark, the chartered insurance broker backed by Goldman Sachs, has acquired DNA Insurance Services to further strengthen its motor trade expertise. DNA Insurance was established in 2003, with offices in Romford and Southampton. The motor trade specialist also covers additional services across business insurance and private client home and car insurance. Peter ... Read the full article
Brokerslink adds B. Riley Advisory Services Group to network
8th April 2021
Independent broker network Brokerslink has expanded its international network with the addition of financial advisory, B. Riley Advisory Services Group. Riley’s Compliance, Risk and Resilience practice specialises in business continuity, cybersecurity risk management, crisis management, enterprise risk management and operational resilience for corporate organisations across a range of industry sectors. Brokerslink’s partners ... Read the full article
Good progress made at “disciplined” April renewals: Willis Re’s Vickers
7th April 2021
Willis Re’s James Vickers believes that reinsurers made “good progress” at an April renewal period that saw underwriting discipline and a continuation of the rate increases seen at 1/1. Vickers, who is Chair of Willis Re International, recently spoke to Reinsurance News alongside the release of Willis Re’s 1st View ... Read the full article
Arthur J. Gallagher acquires Parisco in Norway
7th April 2021
International insurance brokerage firm Arthur J. Gallagher & Co. has announced the acquisition of Parisco, a marine and energy broker based in Norway. Founded in 2001, Parisco serves contractors, offshore service vessels, exploration and production, shipping, passenger vessels and renewable energy clients. Following the acquisition, Parisco head Dag Magne Torjussen and his ... Read the full article
Acrisure hires Matthew Marolda as CIO
7th April 2021
Global insurance broker and fintech financial services provider Acrisure has appointed Matthew Marolda as its first Chief Innovation Officer. He will be focusing on business and growth opportunities aligned with Acrisure’s artificial intelligence (AI), data and technology platform. Marolda has spent his career using data and analytics to drive strategic, marketing and ... Read the full article
Ardonagh Global Partners launches, acquires AccuRisk
6th April 2021
Re/insurance broker The Ardonagh Group has announced the launch of Ardonagh Global Partners and its first acquisition in the US. Led by former Chief Executive Officer of Bravo Group Des O'Connor, AGP will look to invest in leading platforms operating in markets and product verticals outside of the UK and Europe ... Read the full article
Marsh (MMA) acquires Montana-based PayneWest Insurance
6th April 2021
Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has announced the acquisition of PayneWest Insurance, a Missoula, Montana-based independent agency. PayneWest, which was founded almost 30 years ago, provides business insurance, surety, employee benefits, and personal insurance services to firms and individuals across the Northwest through ... Read the full article
Lockton US hires new Executive Risk Claims leader
1st April 2021
Global re/insurance broker Lockton has appointed Sarah Downey to lead Executive Risk Claims. Downey most recently served as Managing Director, U.S. D&O Product Leader and Digital Asset Risk Transfer Leader for Marsh’s FINPRO Practice. She also served as a senior claims advocate for complex claims at Marsh. Downey joined Marsh in 2014 and ... Read the full article
BMS hires Bruce Murdock as Managing Director
1st April 2021
BMS, the independent specialist insurance and reinsurance broker, has appointed Bruce Murdock as Managing Director at BMS Capital Advisory. Murdock will report to Romulo Braga, CEO at BMS Capital Advisory and brings over 30 years’ experience in the insurance and financial services industry. He joins BMS from Lockton Capital Markets, where he ... Read the full article