Reinsurance
Carl Hess to succeed John Haley as WTW CEO
Willis Towers Watson has named Carl Hess as president and CEO with John Haley set to retire at the turn of the year.
Willis Re buy a growth not a synergy story, say Gallagher chiefs
The up to $4bn (£2.9bn) purchase of Willis Re will be a manageable integration costing $250m over three years, according to the leaders of Gallagher.
Analysis: Europe's costliest weather event
Floods caused by torrential rain across western and central Europe in July are likely to become the continent’s costliest weather event, raising the question of how prepared at-risk communities and insurers are to deal with the onset of climate change.
Gallagher to buy Willis Re for up to $4bn
Gallagher has agreed to pay up to $4bn (£2.9bn) for Willis Re's treaty reinsurance brokerage operations, reviving the deal that was called off when Aon’s takeover of Willis Towers Watson collapsed.
Willis Re 'only business' WTW exploring strategic alternatives for: Haley
Willis Towers Watson is exploring "strategic alternatives" for Willis Re but not other parts of the business, CEO John Haley said on Tuesday.
Interview: Mark Wilson and Jamie Hay of Abacai
Abacai co-chairman and CEO Mark Wilson and fellow founder Jamie Hay caught up with Jonathan Swift to discuss how AI can help redefine customer experience and why claims are key to their success.
Aon lays out exec committee after WTW deal failure
Aon has established a new executive committee following the Willis Towers Watson acquisition termination.
WTW sells Irish arm to GRP; motor premiums hit five year low; Questgates acquires two firms and LV tops new customer experience report
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Aspen adds Aileen Mathieson as group CIO
Aspen Insurance has appointed Aileen Mathieson as group chief investment officer.
IGI sets up European subsidiary; Ardonagh establishes Irish data hub; Howden launches climate risk arm; Swiss Re backs BP EV trial
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Flood Re confident on lowering levy to £135m for next financial year
Flood Re is confident that its build back better proposals and reduced insurer levy will soon get government approval, CEO Andy Bord has confirmed, as he detailed plans for the organisation to buy lower limits in its own reinsurance programme.
Somerset Bridge Group posts loss but rising Ebitda ahead of sale
Somerset Bridge Group has reported a loss after tax of £42.4m for the year ended 31 December 2020 ahead of being snapped up by Bermuda reinsurer Arch Re.
Insurers commit to tackling climate change with launch of net zero alliance
Eight insurers and reinsurers have established a United Nations-convened Net Zero Insurance Alliance as founding members, committing to transition their insurance and reinsurance underwriting portfolios to net-zero greenhouse gas emissions by 2050.
Aon and Willis Towers Watson antitrust court date set for November
Aon and Willis Towers Watson have been given a November date for the start of their antitrust trial against the US Department of Justice, which has objected to the proposed merger.
Samengo-Turner appointed Marsh UK specialty CEO as Moody moves to Guy Carpenter
Dominic Samengo-Turner has been appointed CEO of Marsh specialty UK and Ireland replacing Paul Moody who is moving to become UK CEO of Guy Carpenter.
Covéa expected to do 'anything and everything' to make an Axa XL Re deal happen
Covéa is reportedly mulling a third attempt in four years to buy a reinsurer as it eyes Axa XL Re, with experts noting the insurer would look 'pretty hapless' if it failed to get another deal over the line.
Ardonagh to launch reinsurance broker Inver Re
Ardonagh is looking to launch a reinsurance broker in the second half of the year following its purchase of BGC's insurance business.
Competitors see opportunities as Aon-WTW delay risks leaving the brokers in 'no man’s land'
Further delays to the Aon-Willis Towers Watson merger caused by the decision by the US Department of Justice to file a civil antitrust lawsuit to block the transaction will lead to opportunities to snap up staff and clients, according to UK brokers.
Bermuda reinsurer Arch buys Arron Banks’ Somerset Bridge
Arch Reinsurance has struck a deal to buy Arron Banks-backed Somerset Bridge, snapping up the motor managing general agent, distribution arm, affiliated insurer and claims operation for an undisclosed sum.
Lloyd's reinsures emergency central fund
Lloyd’s has taken out a five-year reinsurance policy against payments from its emergency central fund.
US DOJ sues to stop Aon/WTW merger
The US Department of Justice has filed a civil antitrust lawsuit to block Aon’s proposed $30bn acquisition of Willis Towers Watson, saying the merger threatens to eliminate competition, raise prices, and reduce innovation.
Scor and Covéa ink truce bringing bitter feud to an end
Covéa and Scor have signed a settlement agreement that will see all legal action between the two dropped.
EY: motor market to return to loss in 2021; Canopius unveils algorithmic MGA; Kitsune sold to XS Direct
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Tom Wakefield named Gallagher Re CEO ahead of Willis Re merger
Gallagher has revealed that Tom Wakefield will become CEO of Gallagher Re taking over from Simon Behagg.