Reinsurance News
Reinsurance broking news
Reinsurance broker news, analysis and insight, covering reinsurance broking market developments, trends and opportunities.
Reinsurance brokers have a core role to play in the market, so we frequently cover news related to their activities and also interview senior reinsurance broking executives as well.
Aon calls for sustained re/insurance symbiosis after ‘relatively smooth’ 1.1 renewal
3rd January 2024
After a challenging year for many cedents, insurance and reinsurance broker Aon has reported a "relatively smooth" January 1st, 2024, reinsurance renewal, characterised by a rebound in profitability, rebuilding capital positions, and increased availability of retrocession capacity. Aon's latest Reinsurance Market Dynamics report notes increased appetite from reinsurers at 1.1 2024 ... Read the full article
Howden reports adequate capacity and discipline at casualty reinsurance renewals
3rd January 2024
In the lead up to the 1.1 2024 casualty reinsurance renewals, numerous reinsurers called for wholesale action to tackle economic and social inflation, but according to broker Howden, "outcomes ultimately reflected more discerning underwriting informed by loss experience, underlying rate change and prior-year development across individual portfolios." Throughout much of 2023, ... Read the full article
US property catastrophe rates rise by as much as 50% at Jan 1 renewals: Gallagher Re
2nd January 2024
At the January 1st, 2024, reinsurance renewals, U.S. property catastrophe rates increased by as much as 50% for loss-hit business, primarily driven by record severe convective storm (SCS) activity, reports Gallagher Re. The reinsurance broker has released its 1st View Report, which discusses an overall more stable and predictable Jan ... Read the full article
McGriff realigns its regional organisation, appoints four company execs to new roles
22nd December 2023
McGriff, a retail insurance broker across the US, has realigned the business's organisation into three distinct geographic regions, as well as appointing four company executives to new leadership roles. According to the broker, the new structure reaffirms the company's commitment to implementing a client-first, people-centric focus that “never settles for less.” Effective ... Read the full article
Aon’s acquisition of NFP has “execution risks”: Morgan Stanley
20th December 2023
Analysts at Morgan Stanley have highlighted how Aon's recently announced acquisition of middle-market property and casualty (P&C) broker, NFP, for $13.4 billion may have execution risks and will "take time to become accretive." Earlier today, it was reported that the broker had signed a definitive agreement to acquire NFP for ... Read the full article
Aon set to acquire middle-market P&C broker NFP
20th December 2023
Aon, the global re/insurance broker, has signed a definitive agreement to acquire NFP, a middle-market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, from funds affiliated with NFP's main capital sponsor - Madison Dearborn Partners (MDP), and funds affiliated with HPS Investment Partners. Under the terms of ... Read the full article
Augment Risk appoints McGill’s Andrew Matson as CEO
4th December 2023
Reinsurance brokerage firm Augment Risk, has announced the appointment of Andrew Matson as Chief Executive Officer (CEO), who will focus on building on the firm’s significant traction, having already bound $1 billion of premium in its first year of business. “Augment Risk was founded to address a fundamental structural problem in ... Read the full article
Aon promotes Alison Clarke as Head of Renewables, Global Broking Centre & UK
4th December 2023
Aon plc, the global insurance and reinsurance broker, has promoted Alison Clarke as Head of Renewables for its Global Broking Centre (GBC) & UK. In her new role, Clarke will report to Jon Wiegand, Head of Power, GBC. Clarke's remit will include leading the London Natural Resources Renewables Practice. Her role will ... Read the full article
Rate increases to persist through 2024 and probably into 2025: Gulbransen, Howden Tiger
30th November 2023
As negotiations intensify ahead of the January 1st, 2024, reinsurance renewals, Wade Gulbransen, Head of North American Reinsurance at Howden Tiger, has said that the broker sees the market continuing with both price and coverage into next year. Speaking with Howden Tiger's Head of Business Development, Michelle To, as part of ... Read the full article
Gallagher Re promotes Mark Hansen to COO
28th November 2023
Reinsurance brokerage Gallagher Re has promoted Mark Hansen, who has served as Chief Operating Officer (COO) for its North America division since 2021, as its new global COO, taking over from Chris Brook. Hansen has served as COO for Gallagher Re North America since its acquisition of Willis Re. He served at ... Read the full article
Juniper Re payback period to be relatively short: BRP Group CEO
8th November 2023
After launching Juniper Re, its reinsurance broking platform in mid-October, BRP Group believes the payback from the investment will be fairly short, with a view to having the business EPS accretive and cash flow positive in 2025, according to Chief Executive Officer (CEO), Trevor Baldwin. Independent insurance distribution company, BRP Group, ... Read the full article
Lockton Re analytics platform receives US Patent
7th November 2023
Lockton Re, the reinsurance arm of the independent insurance broker, has announced that its analytics platform, SAGE, has been awarded a US Patent. This patent is for systems and methods for custom and real-time visualization, comparison, and analysis of insurance and reinsurance structures. Claude Yoder, Global Head of Analytics, Lockton Re, commented: ... Read the full article
UK’s Pool Re renews reinsurance broking contract with Guy Carpenter
17th October 2023
Pool Re, the UK Government’s terrorism reinsurance scheme, has reported it successfully renewed its reinsurance broking contract with Guy Carpenter for three years, with an option to run to five. According to the announcement, Guy Carpenter will support Pool Re in returning risk and premium to the private sector, which in ... Read the full article
BMS hires Andras Bohm as head of US Capital Advisory
16th October 2023
Independent specialist re/insurance broker, BMS Group, has appointed Andras Bohm as the head of its US Capital Advisory business and the CEO of BMS Capital Advisory, Inc. - BMS Groups’ U.S. broker-dealer - subject to regulatory approvals. In his new role, Bohm will hold responsibility for leading BMS Group's investment banking ... Read the full article
Mark Shumway joins Inver Re as Head of Advisory
10th October 2023
Mark Shumway, formerly of insurance and reinsurance broker Howden, has joined Inver Re, the reinsurance broking arm of the Ardonagh Group, as Head of Advisory. Shumway joined Hyperion X, which later became Howden, from JLT Re in 2019, which followed Marsh McLennan's acquisition of JLT Group earlier that year. During ... Read the full article
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