Agents & Brokers News

UK’s Towergate Reports H1 Before Tax Loss of $88.8M, vs. $23M Profit in H1 2014

Towergate Insurance, the UK insurance intermediary, reported a before tax loss of £58 million ($88.8 million) during the first half, compared with a £15 million ($23 million) before tax profit in the same period of 2014. The company reported income …

UK’s Towergate Contributes to £20M ($30.9M) Gallagher Lawsuit Settlement

The lawsuit filed by Arthur J. Gallagher against the former CEO of its international brokerage operation, David Ross, who defected to Towergate earlier in the year – has been settled for a payment of £20 million ($30.9 million). Gallagher filed …

Integro Acquires Entertainment Risk Management, London-Based MGA

The insurance brokerage and risk management firm Integro Ltd. has acquired Entertainment Risk Management Ltd. (ERM), a London-based managing general agent (MGA), to augment its international entertainment practice.  Financial details of the transaction have not been disclosed. ERM primarily serves brokers …

Lockton Brazil Appoints Neto as Deputy CEO

U.S. based Lockton Companies, the independent insurance broker, has appointed Guilherme Perondi Neto as deputy CEO of its Brazilian subsidiary, Lockton Brazil, effective Sept. 1, 2015. With extensive experience in the insurance market through various multinationals companies such as Veritas …

Willis Appoints Wemyss as Global Head of Placement

Willis Group Holdings has appointed Toby Wemyss as global head of placement, effective immediately. He succeeds David Martin, who will be leaving the company. In this role, Wemyss will drive the continuing development of Willis’ global placement strategy, leading the …

Willis Completes Acquisition of Australia’s CKA Risk Solutions

Willis Australia, part of Willis Group Holdings plc, announced the completion of its acquisition of CKA Risk Solutions. The announcement noted that “CKA is a leading independent broker based in Perth with a strong focus on medium to large-sized corporates, …

‘Affinity Schemes’ Achieving Growth in UK Commercial Lines: Finaccord Report

A new report from UK-based financial marketing and consulting firm Finaccord concludes that “affinity schemes for commercial lines insurance in the UK are on the rise as brokers and underwriters strive to grow market share and profitability in a tough …

Howden UK Acquires Perkins Slade, Independent Broker

Howden UK, part of the Hyperion Insurance Group, is delighted to announce the acquisition of Perkins Slade Forrest Holdings Ltd., subject to shareholder and regulatory approval. Perkins Slade is a leading independent insurance broker that operates in three areas of …

Gallagher Plans to Buy Controlling Stake in Colombian Broker Guianza

Arthur J. Gallagher — the international division of Arthur J. Gallagher & Co. – has signed an agreement to acquire a controlling stake in Colombian retail insurance broker Guianza S.A. Corredores de Seguros, subject to regulatory approval. The remaining shares …

UK Broker Market ‘Stagnant;’ M&A, but No Real Growth: Finaccord Study

Two new research studies issued by market research firm Finaccord put a value of £4.64 billion [$7.234 billion] on the size of the total non-life insurance broking market in the UK in 2014, up marginally from £4.55 billion [$7.09 billion] …