BGC completes Ed Broking buy

BGC completes Ed Broking buy

BGC completes Ed Broking buy

Broker BGC has completed the acquisition of Lloyd’s broker Ed Broking Group, which will now become part of BGC’s insurance division that was formed in 2017 with the acquisition of Besso Insurance Group. CEO of Ed Broking Steve Hearn will become head of BGC’s insurance division and report directly to Shaun Lynn, president of BGC Partners. Ed Broking will add…

Power companies face climate change insurance backlash

Power companies face climate change insurance backlash

Power companies face climate change insurance backlash

Traditional power and energy companies face significant disruption to their business in 2019, with risks ranging from withdrawal of insurance cover as carriers help tackle climate change, to the threat of cyberattacks, according to Willis Towers Watson in its latest market review. Risk managers at renewable energy companies also have a lot on their plate, with insurers cautious about covering…

UK and Ireland leaders named for Marsh JLT Specialty

UK and Ireland leaders named for Marsh JLT Specialty

UK and Ireland leaders named for Marsh JLT Specialty

Marsh has named key UK leaders of its future Marsh JLT Specialty business, which will be formed when Marsh & McLennan Companies acquires JLT. Along with a raft of other global and European appointments, Marsh announced earlier this week that Chris Lay will remain CEO of Marsh UK and Ireland, while Paul Moody will become head of Marsh-JLT Specialty for…

BMS recruits two brokers in Bermuda

BMS recruits two brokers in Bermuda

BMS recruits two brokers in Bermuda

Broker BMS Group has boosted its Bermuda business with the appointment of George Bowring from Price Forbes and Kian Wookey from JLT. BMS said the new recruits will focus on expanding North American liability and property business from Bermuda. Mr Bowring joins BMS after seven years at Price Forbes. He has spent the last three years as a casualty producer…

Liberty Specialty Markets integrates Ironshore Bermuda operations under new brand

Liberty Specialty Markets integrates Ironshore Bermuda operations under new brand

Liberty Specialty Markets integrates Ironshore Bermuda operations under new brand

Liberty Mutual is integrating its Ironshore Bermuda businesses into a single brand and unit called Liberty Specialty Markets Bermuda, in a bid partly designed to offer clients a wider range of solutions. Ironshore in Bermuda previously comprised two businesses. These were: Ironshore Bermuda, which opened in 2007 writing, property, energy and specialty r(e)insurance; and Iron-Starr Excess Agency, which began in 2009…

Insurance is not a cure-all for poor risk selection

Insurance is not a cure-all for poor risk selection

Insurance is not a cure-all for poor risk selection

Global mining conglomerates and their insurance and reinsurance partners will have to improve their risk management outcomes to ensure the long-term sustainability of mining insurance, and must follow the advice of their insurers when it comes to loss prevention. “It does not matter what premium you charge for cover nor what terms and conditions you attach to the insurance policy…

RSA exits London market specialty lines and cuts back international offering

RSA exits London market specialty lines and cuts back international offering

RSA exits London market specialty lines and cuts back international offering

RSA Group is exiting three lines of specialty business and scaling back its London market premiums by one third. Following a review of its specialty and wholesale business written through RSA Global Risk Solutions, the insurer will withdraw from international construction, international freight and fixed price marine protection and indemnity insurance with immediate effect…

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