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.
UK risk settlement market still thriving despite a lack of jumbo deals: Aon
10th November 2020
The UK risk settlement marketplace has seen fewer jumbo deals this year than in 2019, but re/insurance broker Aon still expects it to reach more than £50 billion by the end of 2020 as activity increases among mid-sized and smaller schemes. Earlier in the month, Aon said that the risk ... Read the full article
Brown & Brown acquires InsurTech CoverHound
10th November 2020
A subsidiary of Brown & Brown, Inc. has acquired substantially all of the assets of InsurTech firm CoverHound, a digital insurance marketplace for both individuals and small businesses. The deal has been announced by J. Scott Penny, Brown & Brown's Chief Acquisitions Officer and Keith Moore, Chief Executive Officer (CEO) of ... Read the full article
Re/insurance broker Miller to be acquired by Cinven and GIC
9th November 2020
Specialist insurance and reinsurance broker, Miller, is set to be acquired from its partners and corporate member, Willis Towers Watson (WTW), by global private equity firm, Cinven and GIC, Singapore's sovereign wealth fund. Miller, which employs over 640 people through its offices across the world's major insurance hubs, is a specialist ... Read the full article
Lloyd’s syndicate Ki, Howden announce key capacity partnership
9th November 2020
Ki and Howden are entering a long-term partnership that will see Ki contribute substantial capacity over the next three years, a move designed to secure valuable follow capacity for Howden’s clients and business partners. Alongside the agreement, a collaboration between Ki, Howden and Hyperion X will look to develop of a ... Read the full article
Howden adds Jane Bennett to Financial Lines practice
6th November 2020
Independent insurance broker Howden has added Jane Bennett to its Financial Lines practice. Bennett brings over 30 years’ to the role and joins in November as a Senior Advisor. Howden’s Financial Lines practice provides insurance broking and risk management services across the Financial and Professional services sectors. The division has over 330 people ... Read the full article
Hyperion changes name to Howden Group Holdings
5th November 2020
Global insurance group, Hyperion Insurance Group, has announced that it has changed its name to Howden Group Holdings. The change will take place effective immediately and will flow through the other parts of the Group with Hyperion in the name. This includes the Hyperion Foundation, the Group’s charitable arm, which will be ... Read the full article
Commercial insurance prices up 20% in Q3, reports Marsh
5th November 2020
Insurance and reinsurance brokerage, Marsh, has reported that global commercial insurance prices increased by 20% in Q3 2020, the largest increase since the Global Insurance Market Index was launched back in 2012. This average composite price rise of 20% follows year-on-year average increases of 19% in Q2 and 14% ... Read the full article
Marsh names Tony Ambrose as Deputy CEO for UK Aviation
5th November 2020
Re/insurance broker Marsh has announced the appointment of Tony Ambrose as Deputy CEO, Aviation, Marsh JLT Specialty, effective immediately. Currently a Managing Director within Marsh’s Aviation Practice in London, Ambrose will remain based in London and report to Andy Smith, UK Chairman and CEO, Aviation. In this newly created role, Ambrose will ... Read the full article
Brokers need to explain the hardening market to clients, FCA warns
4th November 2020
The UK's Financial Conduct Authority (FCA) has called on the Lloyd's and intermediated London insurance market to explain and educate clients on the impacts of a hardening market environment. In response to a range of drivers, including a series of natural disaster losses, low prices, persistently low interest rates and more ... Read the full article
BMS appoints new chairman of Australian affinity business
4th November 2020
Specialist insurance and reinsurance broker, BMS Group, has announced the appointment of Cris Massis as Chairman of the firm's expansive Australian affinity business. Massis adds significant association leadership and member value expertise to BMS Australia’s Affinity clients. Effective November 1st, 2020, he will be based in Melbourne with a focus on growing ... Read the full article
MNK Re to acquire majority stake in Prospect Brokers Africa
3rd November 2020
Specialty Lloyd’s broker MNK Re is set to acquire a majority stake in Prospect Brokers Africa, an independent South African reinsurance broker. Prospect Brokers was established in December 2019 by former RFIB Africa director Neesha Parbhoo. The company specialises in reinsurance, wholesale insurance and binding authorities placed into regional and international markets. This ... Read the full article
Newly launched speciality broker NARDAC to open London office
2nd November 2020
Specialist energy and infrastructure insurance broker NARDAC is set to open a London office led by Peter Draper, the former international property director at AFL. Draper is the final founding partner to join the business. He will lead the business’s expansion into the European markets, building relationships with London underwriting capital and ... Read the full article
Aon appoints NBA president Byron Spruell to board of directors
2nd November 2020
Re/insurance broker Aon has announced the appointment of Byron Spruell to its board of directors. Spruell is the president of league operations at the National Basketball Association (NBA). Before his time at the NBA he spent 20 years at Deloitte, most recently serving as vice chairman, central region marketplace leader and Chicago ... Read the full article
Guy Carpenter launches new Marine & Energy division
2nd November 2020
Guy Carpenter, the reinsurance arm of global brokerage Marsh, has announced the launch of a new Marine & Energy mutual, agency and captive reinsurance solutions practice. The practice, which forms part of Guy Carpenter’s Global Marine & Energy Specialty group, will be led by Managing Director Demian Smith. Guy Carpenter’s aim is ... Read the full article
Steadfast Re recruits Ryan Springall as Director Treaty, APAC
2nd November 2020
Steadfast Re, the reinsurance broking joint-venture operation of the Steadfast Group, has announced the appointment of Ryan Springall as Director Treaty for the Asia Pacific region. Springall arrives from Risk Frontiers, an Asia Pacific Perils research organisation, where he most recently served as General Manager. Prior to that, he was a lead ... Read the full article