Climate head Rowan Douglas departs WTWRowan Douglas has announced his departure as head of the Climate and Resilience Hub at WTW after 23 years with the broker.
Aon expands Praedicat partnership to develop new emerging liability exposure solutionsAon has broadened its strategic collaboration with liability modelling company Praedicat with the broker set to benefit from a range of new tools through the tie-up to help better inform its client base.
Marsh promotes McClellan to southeast zone leaderMarsh has appointed Megan McClellan - who has been with the broker since 2012 - as southeast zone leader, overseeing eight offices.
Gallagher Re confirms Johnson as NA vice chair, hires IRB’s Veiga in BrazilGallagher Re has confirmed Linda Johnson as vice chairperson for its North American team - a hire from TigerRisk Partners first revealed by this publication - with the reinsurance broker also appointing IRB’s Daniel Veiga as treaty CEO in Brazil.
Marsh McLennan Agency acquires Texas-based SOLVMarsh McLennan Agency, the middle market subsidiary of Marsh, has acquired SOLV Risk Solutions, an independent agency based in Austin, Texas that was founded in 2016.
Embroker launches new excess tech E&O cyber productSan Francisco-headquartered insurtech intermediary Embroker has unveiled a new digital excess tech errors and omissions product offering limits of up to $5mn.
One80 recruits Amwins’ Swearengin as national casualty practice leaderOne80 Intermediaries has brought in Blake Swearengin from rival wholesaler Amwins as its new national casualty practice leader.
NFP adds Atradius CYC’s Perkins as NA trade credit and political risk headNFP has hired Andrew Perkins from Atradius CYC to lead its North American trade credit and political risk practice, with the new addition bringing over 30 years of industry experience to the company.
TVAon’s Dittman: Reinsurer appetite up at 1.6 as FL rates increase 25-35%Aon’s head of Florida strategy Chris Dittman has described the key 1.6 renewal in the Sunshine State as “orderly”, with reinsurer appetite up and rate increases landing between 25 and 35 percent.
Reagan survey: Private broker organic growth hits record 11.1% in Q1The organic growth recorded by US private brokers in Q1 was the highest quarterly figure ever recorded by Reagan Consulting’s Growth and Profitability Survey, with the advisory firm also reporting that M&A multiples showed no change in the quarter despite the contraction of public broker multiples.
Guy Carpenter “on the offense” for further M&A to build on Israeli dealGuy Carpenter has affirmed it is “absolutely on the offense” regarding acquisition activity across reinsurance broking despite the consolidated landscape and broker-on-broker raids as rivals alike adopt increasingly zealous expansion strategies.
Gallagher Re eyes China growth with Guy Carp’s Lou and Munich Re’s Xia hiresGallagher Re has targeted growing its footprint in China and recruited Jia Lou from reinsurance broking rival Guy Carpenter along with Munich Re’s Alex Xia to spearhead its push in the region.
Guy Carpenter to acquire Israeli reinsurance broker Re SolutionsGuy Carpenter is set to acquire Israel-based independent reinsurance broker Re Solutions in a transaction expected to close later in the quarter.
Inszone adds to California capabilities with Citizens General dealInszone has strengthened its operations in its native California after acquiring Citizens General Insurance Brokers, a deal which adds to its existing capabilities in the small commercial and construction industries.
PE firm Onex sells $355mn in Ryan Specialty shares as Turner cashes out $30mnCanadian private equity firm Onex Corporation announced Thursday it has sold down $355mn of its $534mn stake in publicly-held wholesaler Ryan Specialty, as securities filings also show that group president Tim Turner has trimmed his stake in the firm by $30mn.
Liberty Company negotiating with at least four agencies to unwind dealsLA-based retailer Liberty Company is in negotiations with at least four agencies acquired in recent years to unwind those deals with a number of others exploring avenues to buy back their firms, The Insurer can reveal.
Guy Carp sued by Howden Tiger over Hong Kong team raidGuy Carpenter has returned fire on its rival Howden Tiger by recruiting the “entire” six person team of its Hong Kong operation led by the Asia reinsurance veteran Steve Warwick.
Acrisure targets larger M&A including wholesale and MGAs as number of deals moderatesAcrisure has so far done around 30 deals this year but expects the number of transactions to potentially fall as it looks to larger acquisitions including targeting the build out of its wholesale and MGA platforms as well as its international presence, The Insurer can reveal.
Former AFL CEO Robert Finch now sued by US MGA ZodiacZodiac Insurance Services and its founder David Wash are accusing Robert Finch, the former CEO of London-based AFL Insurance Brokers, of fraud and negligence after his firm acquired a majority stake in the US MGA/intermediary in 2018.
Aon adds Arbittier and Patel from GC and Chaucer’s MallenAon’s Reinsurance Solutions has hired Guy Carpenter’s Jessica Arbittier to add to the recent recruitment of her former colleague Priya Patel in its Philadelphia office, with the firm also adding Zak Mallen from Chaucer in Bermuda, The Insurer can reveal.