Reinsurance News
Marsh McLennan
Marsh McLennan re-elects board of directors
19th May 2023
Insurance and reinsurance brokerage, Marsh McLennan, elected 14 directors in its annual meeting of stockholders. The meeting marked the election of the entire slate of director nominees for the 2023 term. The 14 elected directors include Anthony K. Anderson, John Q. Doyle, Hafize Gaye Erkan, Oscar Fanjul, H. Edward Hanway, Judith Hartmann, ... Read the full article
Marsh McLennan Qatar appoints Qassas as CEO
3rd May 2023
Marsh McLennan Qatar, the regional operation of the global insurance and reinsurance broking powerhouse, has appointed Asaad Qassas as its CEO. Qassas has been working with Marsh for over 13.5 years in various roles, the most recent one was Senior Vice President, UAE Country Placement Leader. Other roles include senior roles like ... Read the full article
Guy Carpenter’s underlying revenue up 10% in Q1 as MMC gets off to a strong start
20th April 2023
Global re/insurance broker Marsh McLennan (MMC) has today reported consolidated revenue across its operations of $5.9 billion for the first quarter of 2023, a rise of 9% on an underlying basis, supported by growth at its reinsurance broking arm, Guy Carpenter. Group-wide, revenue increased from the $5.6 billion reported a year ... Read the full article
Marsh McLennan research links cybersecurity controls and reduced cyber risk
12th April 2023
Automated hardening techniques have the greatest ability to decrease the likelihood of a successful cyberattack, recent research by global brokerage Marsh McLennan has revealed. The broker’s report - titled Using data to prioritise cybersecurity investments - found that key cybersecurity controls commonly required by cyber insurers are linked to a reduced ... Read the full article
Marsh McLennan adds two new members to Board
29th March 2023
The Board of Directors of Marsh McLennan, a leading professional services firm, has appointed both Judith Hartmann and Ray G. Young as directors, effective immediately. Following these appointments, the company’s Board now consists of 15 directors. In her most previous role, Hartmann served as Deputy CEO and Chief Financial Officer of ENGIE, ... Read the full article
Marsh McLennan India appoints Kedia as new CEO
23rd March 2023
Marsh McLennan India, the regional operation of the global insurance and reinsurance broking powerhouse, has announced Sanjay Kedia as its new CEO. Kedia will be taking over in the new role starting April 2023 and this role comes in addition to his previous role as the President of Marsh India. Marsh India ... Read the full article
MMC names new International, US and Canada leaders
2nd February 2023
Insurance and reinsurance brokerage, Marsh McLennan has announced that Flavio Piccolomini and Pat Tomlinson have been named Marsh McLennan International CEO, and US and Canada CEO, respectively. According to the announcement, they have been appointed to their new roles to lead a new collaborative effort to better serve clients and deliver ... Read the full article
Reinsurers had the upper hand at January cat renewals: Guy Carpenter’s Klisura
30th January 2023
Dean Klisura, President and CEO of Guy Carpenter, the reinsurance arm of Marsh Mclennan, has suggested that reinsurers had the upper hand at the January cat renewals. The quote comes from Marsh McLennan's Q4 2022 earnings call, in which Klisura was questioned about changes in client behaviour at the renewals. He said, ... Read the full article
Guy Carpenter’s revenue up 8% during an ‘outstanding year’ for Marsh McLennan
26th January 2023
Insurance and reinsurance brokerage, Marsh McLennan, has today reported consolidated revenue of $5 billion for Q4 and $20.7 billion for the full-year 2022, supported by solid revenue growth at its reinsurance arm, Guy Carpenter. At $5 billion, consolidated revenue in the fourth quarter of 2022 actually declined by 2% when compared ... Read the full article
Former MMC CEO Dan Glaser joins CD&R as Operating Partner
10th January 2023
Clayton, Dubilier & Rice (CD&R), a private investment firm, has appointed Dan Glaser, former President and CEO of Marsh McLennan (MMC) as an Operating Partner. According to the announcement, Glaser joins CD&R's Financial Services team and will help source new investments and support portfolio company management teams as they execute their ... Read the full article
MMA acquires HMS Insurance Associates
9th January 2023
Marsh McLennan Agency (MMA), a subsidiary of Marsh, has acquired Maryland-based HMS Insurance Associates (HMS), one of the US's largest independent agencies. As part of the acquisition, in which the terms were undisclosed, all of HMS's 120-plus employees, including president Gary L. Berger, will join MMA and work in the Hunt ... Read the full article
Innovative risk solutions key for climate-resilient economy transition, say experts
14th November 2022
Insurance and other risk transfer and financing mechanisms will become increasingly important in managing catastrophic risk as countries transition to more climate-resilient economies as Egypt considers a new NatCat pool, according to experts. At the “Adapting to a changing climate in the management of catastrophic risks in Egypt” conference on November ... Read the full article
Survey finds immediate economic risks prioritised over tech and environment
9th November 2022
G20 business leaders are more focused on short-term economic concerns - like rapid inflation, debt crises, and the cost of living crisis - than on environmental and cyber risks, according to a recent survey. These findings were published in this year’s Executive Opinion Survey, conducted by the World Economic Forum’s Centre ... Read the full article
COP27: MMC partners with Arsht-Rock to mobilise insurers on climate
9th November 2022
Marsh McLennan (MMC) has entered into a partnership with the Atlantic Council’s Arsht-Rockefeller Foundation Resilience Center (Arsht-Rock) to help mobilise the insurance and reinsurance sectors in support of the UN’s Race to Resilience campaign for climate resilience. The partnership will seek to showcase innovative disaster risk reduction initiatives that move communities ... Read the full article
Marsh McLennan Agency acquires Focus Insurance
8th November 2022
Marsh McLennan Agency, a subsidiary of Marsh, has announced the acquisition of Focus Insurance, a personal insurance brokerage firm based in Houston, Texas. All Focus employees, including Vice President at Focus Mickie Comiskey, will be joining Marsh McLennan Agency (MMA). Comiskey said, “Joining MMA is an opportunity for us to deliver even ... Read the full article
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