Reinsurance News
Marsh McLennan
McGriff acquisition expected to be modestly accretive in first year: John Doyle, MMC
17th October 2024
During Marsh McLennan's earnings call for the third quarter of 2024, John Doyle, the company's President and CEO, explained that the global broker's $7.75 billion acquisition of McGriff Insurance Services, LLC, is expected to be modestly accretive to adjusted earnings per share, excluding amortisation in year one, and become more ... Read the full article
Post Milton, we see a flattening of property cat pricing at Jan 1 renewals: Klisura, Guy Carpenter
17th October 2024
Dean Klisura, Chief Executive Officer (CEO) of Guy Carpenter, the reinsurance broking arm of Marsh McLennan, stated during the firm's recent earnings call that although it's still early, post hurricane Milton the broker sees a flattening of pricing in the property catastrophe market at the upcoming January 1 2025 reinsurance ... Read the full article
Guy Carpenter sees revenue climb 6% to $381m in Q3
17th October 2024
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has reportedly generated revenue of $381 million in Q3 of 2024, an increase of 6% compared with the same quarter of 2023. Marsh McLennan's Risk & Insurance Services unit, which houses both Guy Carpenter and Marsh, saw revenue of $3.5 billion in ... Read the full article
UK businesses cite economic risks and cybercrime as top 2024 concerns: Marsh McLennan
9th October 2024
According to new research from Marsh McLennan, a professional services firm focused on risk, strategy, and people management, the primary concerns for UK businesses over the next 12 months are economic and financial challenges (43%), cyber threats (39%), and people-related risks (38%). These insights are drawn from Marsh McLennan’s UK Business ... Read the full article
Marsh McLennan to acquire McGriff Insurance Services in $7.75bn transaction
30th September 2024
Marsh McLennan, the global insurance and reinsurance broker, has reached an agreement through its subsidiary, Marsh McLennan Agency to acquire full-service insurance brokerage, McGriff Insurance Services, LLC, for a cash consideration of $7.75 billion, funded by a combination of cash and proceeds from debt financing. Under the terms of the transaction, ... Read the full article
Organisation data on dark web increases cyber attack risk: Marsh McLennan
23rd September 2024
The presence of any data related to an organisation on the dark web increases its risk of cyberattacks, according to a study by Searchlight Cyber and the Marsh McLennan Cyber Risk Intelligence Center. The Center examined Searchlight’s dark web dataset alongside a sample of 9,410 organisations, which had an overall breach ... Read the full article
De Bremme to lead Marsh McLennan, Belgium & Luxembourg as CEO and President
18th September 2024
Marsh McLennan Agency, a subsidiary of Marsh, has appointed Kristof De Bremme as Chief Executive Officer (CEO) and President of Marsh McLennan, Belgium and Luxembourg, based in Brussels He succeeds Rebecca Tielemans and will report to Christos Adamantiadis, CEO of Marsh McLennan, Europe. Adamantiadis said: "Kristof is an outstanding leader who has ... Read the full article
Bridging the cyber protection gap through public-private partnerships: Zurich & Marsh McLennan
5th September 2024
A new whitepaper from Zurich Insurance Group and Marsh McLennan underscores the urgent need for greater public sector involvement to strengthen societal resilience against catastrophic cyber events. As cyber threats evolve rapidly, they are outpacing the ability of traditional insurance and risk management solutions to fully address them. The report emphasises the ... Read the full article
Marsh introduces pioneering insurance coverage for global CO2 transport and storage projects
15th August 2024
Marsh, an insurance broker and risk advisor that is part of Marsh McLennan, has introduced a new insurance solution aimed at the transportation and storage of carbon dioxide (CO2). This innovative solution is available for projects worldwide and tackles key insurance challenges that have previously slowed the progress of the carbon ... Read the full article
Marsh McLennan Agency completes acquisition of Illinois-based broker Horton
5th August 2024
Marsh McLennan Agency, a subsidiary of Marsh, has completed the acquisition of The Horton Group, Inc., a full-service insurance brokerage based in Illinois, US. Horton, which was founded in 1971, offers property and casualty insurance, employee benefits consultation, and personal lines coverage to businesses and individuals across Indiana, Illinois, Wisconsin, Minnesota, ... Read the full article
Guy Carpenter sees 10% revenue increase in Q2’24
18th July 2024
The reinsurance broking arm of Marsh McLennan (MMC), Guy Carpenter, generated revenue of $632 million in the second quarter of 2024, an increase of 10%, or 11% on an underlying basis, contributing to another strong quarter for one of the world's largest re/insurance brokers. Guy Carpenter sits within MMC's Risk & ... Read the full article
Marsh McLennan still top, but Gallagher now world’s third largest insurance broker
11th July 2024
Ranked by 2023 total revenues, Marsh McLennan retains the top position for the 14th consecutive year in AM Best's rankings of the top global insurance brokers, with its total revenue rising nearly 9.7% to reach $22.7 billion in the year. Our directory of the Top 20 Global ... Read the full article
Marsh McLennan appoints Jan Siegmund to its Board
11th July 2024
Marsh McLennan, a global re/insurance broker, has added Jan Siegmund to its Board as a Director, effective immediately. The Board of Directors now consists of 12 directors. H. Edward Hanway, Chair, Company’s Board of Directors, commented on the appointment, "Effective succession planning and board refreshment are at the core of our ... Read the full article
Marsh McLennan Agency to acquire Illinois-based broker Horton
10th July 2024
Marsh McLennan Agency, a subsidiary of Marsh, has entered into a definitive agreement to acquire The Horton Group, Inc., a full-service insurance brokerage based in Illinois, US. Horton, which was founded in 1971, offers property and casualty insurance, employee benefits consultation, and personal lines coverage to businesses and individuals across Indiana, ... Read the full article
Rates down 10%+ for some upper layers of property placements at mid-year renewals: GC
3rd July 2024
Reinsurance broker Guy Carpenter's mid-year reinsurance renewal report reveals that some upper layers of property placements saw risk-adjusted decreases of 10% or more for accounts without loss impacts. However, the broker finds that mid-year 2024 global property catastrophe reinsurance risk-adjusted rates were generally flat to mid-to high-single digits. The report noted that ... Read the full article
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