Reinsurance News
brokerage
Risk Strategies increases unitranche to $4.45bn with Golub Capital $700m loan
23rd August 2023
Risk Strategies increases unitranche facility to $4.45 billion with long-time lending partner Golub Capital leading a $700 million delayed draw term loan, its 13th transaction with the brokerage firm. “Golub Capital helped the borrower achieve an optimal result by agreeing to hold a meaningful portion of the incremental loan, adding to ... Read the full article
Reinsurance broker Augment launches backed with up to $100m from Altamont
14th July 2023
Reinsurance broker Augment has announced its official launch, backed with up to $100 million in funding from private equity firm Altamont Capital Partners. Amidst the emergence of ever more complex risks, macroeconomic volatility, and an evolving regulatory landscape, Augment believes that a one-size-fits-all approach is no longer sufficient. With global reach and ... Read the full article
Costero Brokers appoints Will Wright as a Senior Broker
7th July 2023
Privately held London-based brokerage, Costero Brokers Ltd., has hired Will Wright as a Senior Broker. Wright joins the brokerage with over 10 years of broking experience within London and overseas. Costero has confirmed that in his role, Wright will heavily focus on marine liabilities, energy, cargo, and aviation business in the United ... Read the full article
CAC Group bolsters financial capabilities with expanded syndicated loan
14th June 2023
CAC Group, an insurance brokerage business, has announced the successful expansion of its syndicated loan facility, further bolstering its financial resources and strategic growth initiatives. The syndicated loan, led by Wintrust Financial Corporation (Wintrust), includes participation from several other financial institutions, including Synovus and JPMorgan Chase. According to the announcement, the increase ... Read the full article
Over $150bn in fees and commissions earned from insurance broking activity in 2022
7th June 2023
Worldwide, total fees and commissions earned from insurance broking activity in 2022 were worth over $151.4bn, up from around $137bn in 2021, according to Insuramore, a provider of marketing services focusing on the insurance sector. This increase is equivalent to a growth rate of almost 10.5% without adjusting for inflation, but ... Read the full article
Hub Intl. receives investment from PE firm, Leonard Green & Partners
3rd May 2023
Global insurance brokerage Hub International Limited (HUB), has entered into an agreement with Los Angeles-based private equity firm, Leonard Green & Partners, L.P. (LGP) for an expected “substantial” minority investment with HUB’s enterprise valuation of $23 billion. HUB said that the valuation marks the largest enterprise value to date for a ... Read the full article
WTW reports organic revenue growth of 8% in Q1’23
27th April 2023
Re/insurance broker WTW has reported revenue of $2.24 billion for the first quarter of 2023, representing an increase of 4% compared with the $2.16 billion it reported for the same period in 2022. On an organic basis, revenue increased by 8%, and WTW continues to target "mid-single digit" organic revenue growth ... Read the full article
Ballantyne Brokers completes management buyout
24th March 2023
Ballantyne Brokers Ltd, a new independent Lloyd’s broker based in London, has announced it has completed a management buyout (MBO) from its parent company K2 Insurance Services. The MBO was led by founders, Ross Ballantyne and Richard Spragg, and Chief Operating Officer, John Harris who will continue to lead the company ... Read the full article
Anant Tiwari KM Dastur Reinsurance Brokers’ new hire
22nd March 2023
KM Dastur Reinsurance Brokers has appointed Anant Tiwari to the role of General Manager - Climate Risk Adaptation and Insurance, based in New Delhi, India. The company is a leading insurance and reinsurance broker in Asian, African and Middle Eastern markets for General & Life Insurance across all classes of Property, ... Read the full article
The Plexus Groupe selects CyberCube for cyber risk analysis
22nd March 2023
US brokerage and advisory firm The Plexus Groupe has selected CyberCube’s Broking Manager cyber risk analytics platform to quantify its cyber risk decisions. The broker - who offers comprehensive benefits, commercial insurance, HR and retirement solutions - will be utilising Broking Manager to help clients better understand their unique cyber exposures ... Read the full article
CRG launches London operations, partners with Lloyd’s broker Ramon
15th February 2023
Caribbean Risk Group LLC. (CRG), a US Virgin Islands-based insurance agency, has launched its London operations, CRG International Limited. The firm has confirmed that the brokerage in London will act as an appointed representative of Lloyd’s broker Ramon International Insurance Brokers Ltd. CRG’s operations began on February 10, 2023. “We are delighted to ... Read the full article
Spanish broker RibéSalat opens UK subsidiary
3rd February 2023
RibéSalat, a Spanish re/insurance broker, has opened a subsidiary in London to consolidate its international growth. The broker said that through RibéSalat UK the company responds to the high volume of activity to continue providing its (re)insurance solutions to companies and cedants based in the country. CEO Mónica Ribé commented: “We are ... Read the full article
Brown & Brown sees big rise in revenues & income in Q4 results
24th January 2023
US broker firm Brown & Brown has reported revenues of $901.4 million for the fourth quarter of 2022, representing an increase of $162.9 million, or 22.1%, when compared to the same period last year. Notably, organic revenue totalled $764.7 million for Q4, up 7.8% from last year, but still remained lower ... Read the full article
Matthew Strong named MD for Credit & Political Risks at Howden CAP
23rd January 2023
Insurance broker Howden has appointed Matthew Strong as Managing Director, Credit and Political Risks, Howden CAP. In this role, Strong will be based in London, and he will be a member of Howden CAP’s Executive Committee. Howden CAP focuses on four service lines: insurance for M&A transactions, Tax & Contingent Risks, Surety ... Read the full article
Gallagher appoints Aviva’s Piper as Head of Strategic Account Management
20th January 2023
Gallagher has announced that it has appointed Louise Piper as Head of Strategic Account Management, where she will report to Specialty CEO, Jonathan Turner. In the role, she will be responsible for the management of Gallagher’s offering to large multinational clients. She will also work alongside the specialist broking teams in ... Read the full article
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