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…

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…

Marsh announces plans for new Marsh-JLT Specialty unit

Marsh announces plans for new Marsh-JLT Specialty unit

Marsh announces plans for new Marsh-JLT Specialty unit

Marsh has announced it will create a new specialty unit following the acquisition of JLT. Marsh-JLT Specialty will combine the specialty teams of both businesses when the deal closes, although notably it will retain the JLT name and key JLT executives will head up the new business…

North American liability rates to harden further in surprise turn of market: Willis

North American liability rates to harden further in surprise turn of market: Willis

North American liability rates to harden further in surprise turn of market: Willis

Insurance buyers in North America will pay higher commercial insurance rates next year with some lines reaching double-digit increases, according to Willis Towers Watson’s Marketplace Realities 2019 report. Willis says hype about property rate increases following heavy catastrophe losses in 2017 masked where the real increases have pushed through – casualty and professional liability lines…

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