Arthur J. Gallagher & Co. has completed the acquisition of substantially all of the treaty reinsurance brokerage operations from Willis Towers Watson plc. Together with Gallagher’s existing reinsurance operations, the combined businesses will trade as Gallagher Re led by James Kent, Global Reinsurance CEO, who will report to Tom Gallagher,...
Guy Carpenter & Company announced the launch of the Guy Carpenter InsurTech Center of Excellence (COE) to provide comprehensive services to (re)insurance carriers and Managing General Agents (MGAs) powered through modern technology platforms. The InsurTech COE will offer a broad range of reinsurance broking, advisory and analytical services customised for...
Howden, the international insurance broker has announced the acquisition of Foram Brokerage Ltd., an independent (re)insurance broker based in Hamilton, Bermuda. This acquisition affirms Howden’s commitment to the Bermudian market and provides clients with access to an expert local team. Paul Redgate, deputy chair, Howden Specialty, said: “Foram joining us...
Pool Re Solutions, the International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP) and the National Consortium for the Study of Terrorism and Responses to Terrorism (START) have partnered on a global strategic initiative. This timely initiative is symbolic of the devastating and far-reaching impact of climate change and the new...
Capital invested in insurance technology start-ups surpassed the USD10 billion mark for the first time in any one year on record, according to a new quarterly insurtech briefing by Willis Towers Watson. 2021 has now overseen a record-breaking USD10.5 billion raised during the first three quarters of the year. Still...
The most serious losses in Europe this year were in connection with the floods that struck Central Europe in mid-July. Overall losses amounted to an estimated EUR46 billion, of which over EUR9 billion were insured, according to Munich Re. In Germany, the flooding – which produced overall losses of around...
The European Insurance and Occupational Pensions Authority (EIOPA) published recently its Risk Dashboard based on Solvency II data from the second quarter of 2021. The results show that insurers’ exposures to macro risks remain at a high level while all other risk categories, such as insurance as well as profitability...
The Geneva Association and the Organisation for Economic Cooperation and Development (OECD) co-hosted a high-level conference on recently titled ‘Future-Proofing Technological Innovations for a Resilient Net-Zero Economy’, with the aim of providing input for the discussions that will take place at COP26 in Glasgow. The strategic, multi-stakeholder conversation brought together CEOs...
Regulation Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have published a joint discussion paper on developing a common framework for measuring value for money (VFM) in defined contribution (DC) pension schemes. The aim of the two regulators is to drive a long-term focus on VFM across the pensions...
AXA released the eighth edition of its Future Risks Report recently. The global study measures and ranks the evolution of the perception of emerging risks as seen by a panel of risk management experts as well as by public opinion. More than 23,000 people were surveyed. This report was produced...
