Willis Towers Watson has completed the acquisition of French aviation broker OAAGC, to make it the leading aviation intermediary in France. Under the terms of the deal, first announced last month, OAAGC’s 16-strong team and book of business will transfer to Willis Towers Watson’s global aerospace unit. OAAGC was 40% owned by Gras Savoye, part of the Willis group since…
Willis Towers Watson is in talks to buy the French aviation business and 16-strong team of broker OAAGC. OAAGC is 40% owned by Gras Savoye, part of the Willis group since its acquisition in December 2015. OAAGC’s origins date back to 1898 and the firm has worked in partnership with Willis Towers Watson. The relationship was consolidated by the acquisition…
Tokio Marine Kiln (TMK) has added Unmanned Aerial Systems (UAS) insurance to its One TMK digital exchange. Brokers can now quote and bind UAS policies online in real time from any location. The product, which TMK says features an enhanced policy wording, will be available immediately subject to agreed business terms with TMK and licensing. The One TMK digital exchange…
Software launched for global insurance programmes, AXIS expands aviation book with Aviabel purchase, Willis Re promotes Kent to deputy CEO, Markel and J H Blades form underwriting partnership and Law firm boosts London market team.
Sompo Canopius CEO Stuart Davies steps down, AEGIS appoints risk experts to board and Aviation underwriter Bayman returns to Chubb.
The catastrophic failure of a SpaceX Falcon 9 rocket in September is not expected to change rates in the soft space insurance market, despite being a sizable loss. However, the introduction of new technologies and private launch vehicles could see the cost of insurance increase in coming years, according to underwriters.
The growing popularity of drones will create an insurance market worth $1bn within ten years, according to Allianz Global Corporate & Specialty (AGCS).
FM Global creates dedicated cyber risk and underwriting units, Atradius acquires risk info specialist Graydon, Chubb expands cyber risk engineering services in UK and Ireland, Beazley expands aviation team with key hire in France, Fenchurch Law makes three appointments to insurance team, Lloyd’s and LMA announce shared modelling deal with Oasis and Verisk Insurance Solutions launches energy insurance operation.
Risk managers can expect a less generous underwriting approach to key specialty lines such as casualty, cargo, offshore energy and terrorism from the London market in 2017 according to recent evidence from the corporation of Lloyd’s, the Prudential Regulatory Authority (PRA) and comments made during recent second quarter results by insurers.
UK and Britannia P&I clubs terminate merger discussions, De la Morinerie turns up at Aquila Underwriting as it establishes new MGA in France, Chubb names leadership for European P&C risk engineering team, Allianz agrees deal for Zurich’s Moroccan P&C business and AGCS makes senior global aviation appointments.