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.
New entrants filled capacity gaps at 1/1 renewals: Lockton Re
4th February 2021
Following somewhat muted rate increases at the January 1 reinsurance renewals, Ross Howard, Global Executive Chairman at Lockton Re, has attributed the suppressed dynamic to new market entrants plugging gaps in capacity. Prices increased at 1/1 on the back of a hardening re/insurance market, but rate increases were generally more modest ... Read the full article
Gallagher hires Matthew Haine as managing partner
3rd February 2021
Re/insurance broker Gallagher has appointed Matthew Haine as managing partner of its property practice. Haine has over 35 years of experience in broking and joins from Guy Carpenter, where his previous position was senior vice president in its FAC division. Prior to Guy Carpenter, he held senior roles at Benfield and Aon. In ... Read the full article
Pana Harrison to outsource digital platform InsureGuru
2nd February 2021
Singapore headquartered re/insurance broker Pana Harrison is set to outsource the digital distribution platform InsureGuru. InsureGuru is a Singapore-registered FinTech company designed to take the complexity out of purchasing insurance by allowing policy statuses to be checked online any time with expiry reminders. It’s hoped that together, Pana Harrison and InsureGuru can ... Read the full article
Insured nat cat losses above-average in 2020 at $78bn, says Willis Re
2nd February 2021
The insurance and reinsurance industry loss from major natural catastrophe events in 2020 totalled approximately $78 billion, which is some 17% higher than the ten-year average of $66.5 billion, according to analysis by Willis Re, the reinsurance arm of global brokerage Willis Towers Watson (WTW). While the insured loss estimate is ... Read the full article
Stephen Bertolla to join Lockton Re in London as a Senior Broker
2nd February 2021
Lockton Re, the reinsurance arm of global brokerage Lockton, has announced the addition of Stephen Bertolla to its International P&C division in London as a Senior Broker. Later this year, Bertolla will join Lockton Re from his most recent role as an Account Executive and Senior Broker at Guy Carpenter, who ... Read the full article
Lockton Re deepens CyberCube relationship via product investment
1st February 2021
Lockton Re, the reinsurance segment of broker Lockton, has expanded its relationship with CyberCube via an investment in the firm's Portfolio Manager solution. The product has been designed to enhance enterprise risk management purposes, and will allow the reinsurance broker to advise its clients how their portfolio exposures look for extreme ... Read the full article
Sollers joins WTW’s Radar Live Collaboration programme
1st February 2021
Willis Towers Watson has announced that Business and IT consultancy firm Sollers has joined its Radar Live Collaboration programme. Radar Live is an insurance rating and rules programme that builds on WTW's analytical software Emblem, Classifier, Radar Base and Radar Optimiser. The programme has been designed to help equip users with system ... Read the full article
Newfront hires Stacey Lem as Managing Account Executive
1st February 2021
San Diego-based broker Newfront Insurance has hired Stacey Lem as the Managing Account Executive for its Employee Benefits practice. Lem has almost 30 years of experience in the carrier and brokerage sides of the industry, bringing a new perspective on the opportunities for innovation and leadership within the practice area. He joins ... Read the full article
Aon / WTW defend proposed merger after competition concerns raised
29th January 2021
Global re/insurance brokers Aon and Willis Towers Watson (WTW) have cited a range of competitive dynamics in defence of their proposed combination; after the New Zealand (NZ) Commerce Commission's Statement of Issues (SOI) and subsequent responses highlighted some potential concerns. Ahead of an expected completion date sometime in the first-half of ... Read the full article
Gallagher reports $153mn Q4 net earnings
29th January 2021
Re/insurance broker Arthur J. Gallagher & Co. has reported fourth quarter net earnings of $153.1 million, up from $105.6 million in the prior year quarter. The company's brokerage segment also saw a rise during the final quarter of 2020, reaching $157.7 million against $118.7 million. For the full year, Gallagher's reported net ... Read the full article
Aon enhances healthcare platform with EoG’s voice AI technology
29th January 2021
Re/insurance broker Aon has entered into a new partnership with Elements of Genius (EoG), one of the fastest growing privately held Artificial Intelligence (AI) companies in the U.S., to empower Aon's GoodMe platform with dynamic voice chatbots. Under the new collaboration, GoodMe, which is Aon's healthcare services platform, will be powered ... Read the full article
Brown & Brown names Stephen Boyd as EVP
29th January 2021
Insurance brokerage Brown & Brown has promoted Stephen Boyd to the position of Executive Vice President and President of the company’s Wholesale Brokerage Segment. Boyd most recently served as Brown & Brown’s Senior Vice President of Technology, Innovation, and Digital Strategy. He joined Arrowhead General Insurance Agency, the company’s subsidiary, in 1995 ... Read the full article
Insurance pricing, rising exposures a ‘twofold boost’ for brokers in 2021: S&P
28th January 2021
Insurance companies are expected to show underwriting discipline in the months ahead suggesting a strong pricing environment for 2021, which, coupled with rising exposures should bolster organic growth for brokers, according to analysis by S&P Global Ratings. In 2020, market impact, which S&P says is best captured by insurance premium growth ... Read the full article
Howden records organic growth of 6% in 2020
27th January 2021
International insurance broker Howden has recorded revenue of £777 million in 2020, representing an increase of 7% compared with the previous year, or 6% on an organic growth basis. Howden attributed the growth to strong performance across all of its business units, despite the “extraordinary market conditions” that the industry faced ... Read the full article
Lockton adds Matt Heinz to Transaction Liability practice
26th January 2021
Global re/insurance broker Lockton has announced the appointment of Matt Heinz as a Partner in its Transaction Liability practice. He will co-lead the group with Partners Josh Halpern, Eric Ziff and Gaurav Sud, who joined Lockton last year as the firm sought to significantly bolster its transaction liability capabilities. Heinz most recently ... Read the full article
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