Reinsurance News
Marsh McLennan
BitSight & MMC study correlates cyber ratings and security incidents
26th October 2022
BitSight has released results from an independent study which found fourteen BitSight analytics, including the BitSight Security Rating, and thirteen BitSight risk vectors, to be correlated with cybersecurity incidents. The study was conducted by the Marsh McLennan Cyber Risk Analytics Center, which brings together the cyber risk data and analytics expertise ... Read the full article
Tightening cat market could be a tailwind for Guy Carpenter: Dean Klisura
20th October 2022
The impact of Hurricane Ian on an already stressed property market is expected to be significant and contribute to a much more challenging 1/1 renewals, but further tightening in the catastrophe space could be a tailwind for reinsurance broker Guy Carpenter, according to executives. Earlier today, Marsh McLennan (MMC) reported ... Read the full article
Guy Carpenter’s Q3 revenue up 7% as Marsh McLennan reports solid set of results
20th October 2022
Global brokerage Marsh McLennan (MMC) has reported a solid set of results for the third quarter of 2022, supported by underlying revenue growth of 7% at its reinsurance arm, Guy Carpenter. Across the business, MMC's consolidated revenue in Q3 2022 increased by 4%, or 8% on an underlying basis to $4.8 ... Read the full article
Marsh McLennan names Doyle President & CEO as Glaser retires
26th September 2022
Global insurance and reinsurance broker Marsh McLennan has announced that John Doyle will take over from Daniel Glaser as President and Chief Executive Officer (CEO) from January 1st, 2023. Glaser is set to retire at the end of the year after leading the firm since 2013, having previously served as Marsh ... Read the full article
Oliver Wyman opens new Actuarial office in Bermuda, appoints leader
2nd August 2022
Oliver Wyman, a global management consulting firm and business of Marsh McLennan has announced the opening of a new Actuarial office in Bermuda. The firm has also announced that Faisal Haddad has been appointed as Head of the Bermuda Actuarial team. Haddad has more than 15 years of diverse international industry experience ... Read the full article
US property cat reinsurance rates up by 15% in 2022: Guy Carpenter
25th July 2022
So far this year, property catastrophe reinsurance rates-on-line in the U.S. have risen by almost 15%, representing the largest increase in the Guy Carpenter U.S. Property Catastrophe Rate on Line Index since 2006. Reinsurance broker Guy Carpenter's index is a proprietary index of U.S. property catastrophe reinsurance rate-on-line movements, so ... Read the full article
Flood risk routinely underestimated, warns MMC
22nd July 2022
Re/insurance broker Marsh McLennan has released its updated Flood Risk Index 2.0, which maps how a changing climate will shape flood risk in the future. The report warns that flooding is the most pervasive natural disaster, and yet its costs are routinely underestimated. And now, climate change, economic and demographic trends, and ... Read the full article
Guy Carpenter sees 9% revenue growth in Q2 as Marsh McLennan reports ‘another strong quarter’
21st July 2022
Consolidated revenue at Marsh McLennan increased by 7% in the second-quarter of 2022 when compared with the previous year, supported by strong growth across the business, including at Guy Carpenter, the reinsurance arm of the global brokerage. Overall, insurance and reinsurance broker Marsh McLennan has reported revenue of $5.4 billion for ... Read the full article
Trust and credibility critical for insurance innovation – Rising Professionals Global Forum
13th July 2022
Trust is critical to avoid “organ rejection” of disruptive technology. This was the view of a panel of leaders in the field of insurance innovation at the Marsh McLennan Rising Professionals’ Global Forum. In his opening remarks, Rafal Modrzewski, CEO, Co-Founder, ICEYE, said innovative technologies can play a key role ... Read the full article
“Industry needs to embrace and nurture talent” – Marsh McLennan CEO
12th July 2022
The industry needs to find a way to amplify its talents’ potential enable and enable their ambition if it is to effectively attain new levels of societal resilience, says Dan Glaser, president and CEO of Marsh McLennan. Commenting ahead of the Marsh McLennan Rising Professionals’ Global Forum in London, Glaser said ... Read the full article
Marsh McLennan extends lead as top global broker based on 2021 revenues
6th July 2022
Marsh McLennan remains the world's largest re/insurance broker, in terms of total revenues, which reached a huge $19.8 billion for the firm in 2021, according to our directory of the Top 20 Global Insurance & Reinsurance Brokers, based on research data from A.M. Best. Year-on-year, Marsh McLennan's ... Read the full article
Marsh McLennan Agency acquires CS Insurance Strategies
6th July 2022
Marsh McLennan Agency (MMA), the US middle market subsidiary of global insurance broker Marsh, has announced the acquisition of CS Insurance Strategies, Inc., a full-service insurance agency based in Chicago. Terms of the acquisition were not disclosed. Founded in 2209 by Chief Executive Officer (CEO), Charles Smith, CS Insurance Strategies is ... Read the full article
Marsh McLennan makes senior marketing & staff appointments
23rd June 2022
Marsh McLennan has announced the appointments of John Jones as Chief Marketing and Communications Officer and Pat Hagemann as Office of the COO Chief of Staff. Both appointments will report to John Doyle, Group President and Chief Operating Officer of Marsh McLennan, and are effective July 1. Jones will lead Marsh McLennan’s ... Read the full article
Marsh McLennan Agency acquires independent agency Clark Insurance
7th June 2022
Marsh McLennan Agency (MMA), the US middle market subsidiary of global insurance broker Marsh, has announced the acquisition of Maine-based Clark Insurance, a leading independent agency. Founded in 1913, Clark Insurance, led by president Jeff Shaw, provides business insurance, employee health and benefits, and private client services to businesses and individuals ... Read the full article
Marsh McLennan shareholders re-elect 2022 director nominees
20th May 2022
The shareholders of global insurance and reinsurance brokerage firm, Marsh McLennan, have re-elected the entire cohort of 2022 director nominees. Yesterday, Marsh McLennan held its annual meeting of stockholders, who nominated to re-elect the entire slate for a one-year term, expiring at the 2023 meeting. The director nominees re-elected include Anthony Anderson, ... Read the full article
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