Reinsurance News
Marsh McLennan
Re/insurance markets challenging for buyers despite moderation: MMC
29th April 2022
John Doyle, Group President and Chief Operating Officer at broking firm Marsh McLennan (MMC), has said that the insurance and reinsurance markets remain broadly “challenging” for its clients despite some recent deceleration in pricing. Speaking during an MMC Q1 earnings call, Doyle said that, while rate increases had moderated recently, buyers ... Read the full article
Guy Carpenter’s revenue jumps 11% in the first-quarter of 2022
21st April 2022
Marsh McLennan's (MMC) reinsurance broking arm, Guy Carpenter, has reported an 11% rise in underlying revenue in the first-quarter of 2022 to $999 million, as its parent reports consolidated revenue of $5.5 billion for the period. Revenue growth at Guy Carpenter supported total Q1 2022 revenue of $3.5 billion within MMC's ... Read the full article
Marsh McLennan commits to net zero by 2050
31st March 2022
Marsh McLennan has committed to reaching net zero across its operations by 2050, alongside reducing its carbon emissions by half in the next eight years. All this was detailed in the firm’s just-released Accelerating Impact report, where it sets out its emissions reduction target. That target, says Marsh McLennan, is aligned ... Read the full article
Marsh McLennan appoints Mikhail Vanyo as general counsel
31st March 2022
Marsh McLennan has appointed Mikhail Vanyo as general counsel of Marsh. Vanyo will succeed Katherine Brennan, who was made senior vice president and general counsel earlier in the month. He will report directly to Martin South, president and CEO of Marsh, as well as Brennan. Based in New York, Vanyo will ... Read the full article
Marsh McLennan names Katherine Brennan as SVP and General Counsel
14th March 2022
Katherine Brennan, most recently General Counsel at Marsh LLC, takes on the role of Senior Vice President and General Counsel at Marsh McLennan, succeeding Peter Beshar, effective immediately. Brennan takes charge of the broker's global legal, compliance, and public affairs function, which supports Marsh, Guy Carpenter, Mercer, and Oliver Wyman. She will ... Read the full article
Marsh McLennan pulls out of Russia
10th March 2022
Global insurance broking and risk management firm Marsh McLennan has announced that it plans to exit all of its businesses in Russia. President and CEO Dan Glaser explained that the company felt “compelled” to sever all ties with Russia following its invasion of Ukraine. Western nations have already imposed tough economic sanctions ... Read the full article
Marsh McLennan appoints new director
15th February 2022
Marsh McLennan has appointed Hafize Gaye Erkan as its new, fourteenth director. Ms Erkan’s appointment is due to begin at the beginning of March. H. Edward Hanway, Chairman of the Company’s Board of Directors, said in a statement: “Gaye has deep expertise in investments, risk management, growth markets and digital innovation. We ... Read the full article
Guy Carpenter contributes to strong revenue growth at Marsh McLennan
27th January 2022
Global insurance broker Marsh McLennan has reported "one of the finest results" in its history with underlying revenue growth of 10% for both the fourth quarter and full year 2021, supported by 5% growth at Guy Carpenter, its reinsurance arm. Year-on-year, consolidated revenue increased by 16%, or 10% on an underlying ... Read the full article
Guy Carpenter hires Swiss Re’s Modugno as MD Continental Europe Fac
21st December 2021
Reinsurance broker Guy Carpenter has announced the appointment of Vito Modugno, formerly of Swiss Re, as Managing Director of its Continental Europe Facultative practice. Modugno joins the Guy Carpenter after more than 13 years with reinsurance giant Swiss Re, where he most recently served as Lead of P&C Facultative Solutions EMEA. During ... Read the full article
Natural infrastructure projects reduce wildfire losses: Marsh McLennon
13th December 2021
Marsh McLennan, in partnership with The Nature Conservancy in California has released new research that demonstrates the financial benefits that accompany nature-based approaches to wildfire risk reduction. The report uses the 2018 Camp Fire in California as a case study, and shows that community-encircling wildfire buffers of land managed for fire ... Read the full article
Marsh McLennan Agency acquires InSource
9th December 2021
Marsh McLennan Agency (MMA), a subsidiary of Marsh has acquired InSource Insurance Group, an independent agency in Texas. InSource Insurance Group was formed in 1986 to provide business insurance, employee health and benefits, private client, and surety services to the oil and gas, construction, manufacturing, and transportation industries. InSource will help lead ... Read the full article
Marsh McLennan hires Francis Bouchard as Managing Director, Climate
9th December 2021
Marsh McLennan has appointed Francis Bouchard to its Advantage team as Managing Director of Climate. Bouchard will be responsible for the team’s climate strategy and for developing and delivering solutions from across Marsh McLennan that help clients create resilient strategies for the future. He will work closely with executives and climate leaders ... Read the full article
Marsh McLennan and BitSight partner to bolster cybersecurity performance
24th November 2021
Marsh McLennan and BitSight have entered a partnership to help both organisations better understand, measure, and manage their cyber risks. Marsh McLennan's recently announced Cyber Risk Analytics Center will leverage BitSight Security Ratings, data, and analytics, enabling clients to better understand their cybersecurity performance and make more informed risk management decisions. Throughout ... Read the full article
Dean Klisura named Guy Carpenter CEO amid major MMC leadership re-shuffle
18th November 2021
Dean Klisura, currently the president of Guy Carpenter, has been appointed to lead the company as Chief Executive Officer, a role that will be taken up alongside his current duties. This appointment comes amid a broader shake up of the Marsh McLennan group's leadership, one that includes Marsh CEO and president ... Read the full article
Marsh McLennan Agency acquires Pelnik Insurance
8th November 2021
Marsh McLennan Agency (MMA), a subsidiary of Marsh, has acquired Pelnik Insurance, an independent agency in North Carolina. Founded in 1994, Pelnik Insurance, led by CEO Chris Pelnik, offers business insurance, employee health and benefits, and private client services to midsize businesses and individuals throughout the Mid-Atlantic. Pelnik has 19 employees across ... Read the full article
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