Reinsurance News
Marsh McLennan
Marsh launches facility offering up to $825m coverage for digital asset custodians
26th March 2024
Marsh, the insurance broker and risk advisor subsidiary of Marsh McLennan, has launched a new global insurance facility providing coverage up to $825 million for digital asset custodians. Developed by Marsh Specialty’s Digital Asset team, this facility is designed to assist organisations storing digital assets offline, as well as those utilising ... Read the full article
Marsh reports 30% increase in transactional risk claims in 2023
26th March 2024
Marsh, the insurance broker and risk advisor subsidiary of Marsh McLennan, has reported that despite the slowest annual period for US dealmaking in six years, its North America team successfully placed 1,046 transactional risk policies. The broker's clients in North America reported 240 transactional risk claims in 2023, representing a 30% ... Read the full article
Marsh McLennan Agency expects stable commercial property reinsurance market in 2024
18th March 2024
Marsh McLennan Agency (MMA), part of the global insurance and reinsurance broker, has released its 2024 Commercial Property Insurance Trends report, highlighting a more balanced reinsurance market this year compared to the harsh conditions of 2023. According to MMA, "In 2023, the industry witnessed the toughest property reinsurance market in decades." This ... Read the full article
Marsh McLennan, Lloyd’s backed Unity expands coverage to boost Ukrainian economy
1st March 2024
Marsh McLennan, a re/insurance broker, in collaboration with the Ukrainian government and Lloyd’s, announced the expansion of its Unity insurance facility (Unity) to now cover war risk insurance for ships carrying all non-military cargo. Initially launched in November 2023 to provide affordable war risk insurance for grain shipments and other ... Read the full article
Marsh McLennan appoints David Liston as Chief Commercial Officer, US & Canada
1st March 2024
Global insurance and reinsurance broking group Marsh McLennan has appointed David Liston as the Chief Commercial Officer (CCO), US and Canada, effective immediately. He will have a dual line of reporting to Pat Tomlinson, Chief Executive Officer, Marsh McLennan US and Canada and President of Mercer, and Hans van Heukelum, Global ... Read the full article
Marsh unveils next phase in rollout of its London market digital trading initiative
13th February 2024
Marsh, the insurance broker and risk advising arm of Marsh McLennan, has announced the next phase in the rollout of its digital trading initiative for risks placed in the London insurance market, following a successful pilot in 2023. During the pilot, over $400 million of premium was traded, and Marsh is ... Read the full article
Marsh names Lorraine Stack as Risk Management Leader, Europe
6th February 2024
Marsh, the insurance broker and risk advising arm of Marsh McLennan, has appointed Lorraine Stack as the Risk Management Leader, Europe, effective immediately. Stack's remit in the new role at Marsh will include responsibility for the portfolio of its largest European clients, supporting them in managing their risk and insurance programmes. She ... Read the full article
Jan 1 reinsurance renewals positive and balanced: Klisura, Guy Carpenter CEO
25th January 2024
Overall, capacity was adequate for the completion of most programmes at the January 1st, 2024, reinsurance renewals, and with dedicated reinsurance capital growth in the double-digits, it was a positive renewal, according to Dean Klisura, President and Chief Executive Officer (CEO) of Guy Carpenter. Following the release of insurance and ... Read the full article
Guy Carpenter revenue up 9% to $252m in Q4’23
25th January 2024
Guy Carpenter, a global risk and reinsurance specialist and a business of Marsh McLennan, has reported total revenue in Q4 of 2023 of $252 million, marking an increase of 9% on an underlying basis. For the year 2023, Guy Carpenter's revenue grew 12% compared to 2022, or 10% on an underlying ... Read the full article
Marsh McLennan and Oliver Wyman launch Generative AI tool, LenAI
22nd November 2023
Global professional services firm Marsh McLennan, along with its renowned management consulting business, Oliver Wyman, has unveiled a cutting-edge Generative AI tool named LenAI. Developed by Marsh McLennan’s Dublin Innovation Center in collaboration with Oliver Wyman Digital, LenAI is poised to revolutionise the work experience for the company's 85,000 colleagues worldwide, ... Read the full article
MMC UK Pension Fund completes £2bn longevity swap
17th November 2023
Mercer, a subsidiary of Marsh McLennan and an advisor to the MMC UK Pension Fund Trustee Limited, has announced the completion of a longevity hedge covering approximately £2 billion of liabilities, backed by German reinsurer Munich Re. This is the first longevity swap to include active members, and covers the liabilities ... Read the full article
Marsh McLennan collaborates with Ukraine to provide insurance for Black Sea grain shipments
15th November 2023
Marsh McLennan, in collaboration with the Ukrainian government, the Export Credit Agency of Ukraine, Ukreximbank, Ukrgasbank and DZ Bank, has launched a new facility named 'Unity' to provide "affordable insurance supporting the export of grain and other critical food supplies globally from Ukraine’s Black Sea ports." Underwritten by insurers based at ... Read the full article
Marsh McLennan names Susan Potter US and Canada Commercial Officer
3rd November 2023
Marsh McLennan appointed Susan Potter as the US and Canada Commercial Officer, effective immediately. Potter will take on this crucial role with the mission of driving client-centric initiatives that enhance Marsh McLennan's ability to meet the evolving needs of clients in the US and Canada, the company said. She will collaborate closely ... Read the full article
Guy Carpenter CEO Klisura expects continued challenges in property cat reinsurance
20th October 2023
In a recent Marsh McLennan third-quarter earnings call, Dean Klisura, President and CEO of reinsurance broker Guy Carpenter, shared insights into the upcoming January 1 renewal period and the prevailing market conditions in the reinsurance industry. "We expect challenging market conditions to persist for property cat at the upcoming January 1 ... Read the full article
MMC CEO Doyle expects “more orderly” Jan 1st reinsurance renewal
19th October 2023
During Marsh McLennan's third-quarter earnings call, President and Chief Executive Officer (CEO), John Doyle, shared valuable insights into the state of the reinsurance market and the expectations for the January 1st renewal. "As we look to January 1st, the market appears to be more orderly than last year, but we expect ... Read the full article
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