Agents & Brokers News

Marsh & McLennan Seeks Ways to Cut Tax as Competitors Shift to London

Marsh & McLennan Cos., the largest insurance broker by market value, is seeking ways to cut tax obligations as rivals shift to Europe, where rates are lower. “The search for tax efficiency for us started several years ago,” Dan Glaser, chief executive …

Foreign Insurers Take Cautious Look at Iran Business in Wake of Nuclear Deal

Western and Middle East insurance specialists see Iran as an appealing $8 billion market in the wake of its nuclear deal with world powers, though uncertainty over when sanctions on Tehran will be lifted means they are treating the country …

Beazley CEO Calls on Lloyd’s to Overhaul Data Systems

Beazley Plc CEO Andrew Horton called on Lloyd’s of London to overhaul the way it manages trade information to make the world’s oldest insurance market more efficient and globally competitive. “The transfer of data in the market has got to …

DUAL Acquires Oliva Underwriting, UK-based MGA

DUAL, the underwriting arm of the Hyperion Insurance Group, announced it has acquired Oliva Underwriting, the UK-based MGA specializing in property & casualty, contractor trades and marine insurance. The acquisition forms a core part of DUAL’s UK commercial strategy, and will allow it …

Jardine Lloyd Sues Rival Howden Over Mass Resignation in Singapore

Jardine Lloyd Thompson Group plc sued Howden Insurance Brokers in a bid to thwart plans by the rival to poach 17 of its Singapore staff. The broking arm of Hyperion Insurance Group, headhunter Huntington Search Partners Pte, JLT Singapore Managing Director Goh Chye Huat …

JLT Re Builds Programs & Binding Authorities Division with 3 New Hires

JLT Re, the London-based reinsurance broker and consultancy, announced it is continuing to develop and diversify its Programs and Binding Authority Division with three new appointments. Mark Sleet has joined from Miller where he specialized in casualty business; Sleet has …

RKH Appoints Schlossmacher as Co-Managing Director of Financial Risks Division

RKH Specialty, part of the Hyperion Insurance Group, has appointed Gert Schlossmacher as co-managing director of its Financial Risks Division. Schlossmacher will join in January 2016, reporting to Barnaby Rugge-Price, CEO of RKH Specialty. Schlossmacher joins RKH from Euler Hermes, …

Gallagher Buys 65% of ARM Re, Colombian Energy & Construction Specialist

Arthur J. Gallagher – the international division of Arthur J. Gallagher & Co. – has extended its investment in Latin America with a 65 percent shareholding in independent Colombian energy and construction specialist ARM Re Ltda (ARM). Other terms of …

Re/insurance Market Conditions Will Lead to More M&A Activity: A.M. Best

Merger and takeover activity is likely to continue in the coming months as re/insurers increasingly seek ways to deploy capital and create scale against a backdrop of ongoing soft market conditions and weak investment returns, according to a special report …

Near National P/C Carriers Identified for 2015

The Demotech Company Classification System, established in the Feb. 12, 2007 issue of Insurance Journal, categorizes insurers into one of 11 categories based on an analysis of data reported by the companies to the National Association of Insurance Commissioners. The …