Insurance Journal » Agents & Brokers http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Thu, 03 Sep 2015 19:57:03 +0000 en-US hourly 1 http://wordpress.org/?v=4.3 UK’s Towergate Reports H1 Before Tax Loss of $88.8M, vs. $23M Profit in H1 2014 http://www.insurancejournal.com/news/international/2015/08/27/379824.htm Thu, 27 Aug 2015 10:05:07 +0000 http://www.insurancejournal.com/?p=379824 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 …

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UK’s Towergate Contributes to £20M ($30.9M) Gallagher Lawsuit Settlement http://www.insurancejournal.com/news/international/2015/08/26/379689.htm Wed, 26 Aug 2015 13:51:02 +0000 http://www.insurancejournal.com/?p=379689 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 …

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Integro Acquires Entertainment Risk Management, London-Based MGA http://www.insurancejournal.com/news/international/2015/08/26/379675.htm Wed, 26 Aug 2015 09:39:55 +0000 http://www.insurancejournal.com/?p=379675 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 …

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Lockton Brazil Appoints Neto as Deputy CEO http://www.insurancejournal.com/news/international/2015/08/26/379671.htm Wed, 26 Aug 2015 08:39:07 +0000 http://www.insurancejournal.com/?p=379671 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 …

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Willis Appoints Wemyss as Global Head of Placement http://www.insurancejournal.com/news/international/2015/08/25/379505.htm Tue, 25 Aug 2015 10:32:32 +0000 http://www.insurancejournal.com/?p=379505 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 …

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Willis Completes Acquisition of Australia’s CKA Risk Solutions http://www.insurancejournal.com/news/international/2015/08/20/379084.htm Thu, 20 Aug 2015 09:33:40 +0000 http://www.insurancejournal.com/?p=379084 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, …

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‘Affinity Schemes’ Achieving Growth in UK Commercial Lines: Finaccord Report http://www.insurancejournal.com/news/international/2015/08/11/378072.htm Tue, 11 Aug 2015 13:05:03 +0000 http://www.insurancejournal.com/?p=378072 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 …

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Howden UK Acquires Perkins Slade, Independent Broker http://www.insurancejournal.com/news/international/2015/08/10/377999.htm Mon, 10 Aug 2015 14:38:27 +0000 http://www.insurancejournal.com/?p=377999 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 …

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Gallagher Plans to Buy Controlling Stake in Colombian Broker Guianza http://www.insurancejournal.com/news/international/2015/08/07/377814.htm Fri, 07 Aug 2015 09:40:01 +0000 http://www.insurancejournal.com/?p=377814 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 …

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UK Broker Market ‘Stagnant;’ M&A, but No Real Growth: Finaccord Study http://www.insurancejournal.com/news/international/2015/08/05/377523.htm Wed, 05 Aug 2015 09:06:43 +0000 http://www.insurancejournal.com/?p=377523 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] …

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Marsh Completes Acquisition of UK-Based SME Insurance Services http://www.insurancejournal.com/news/international/2015/08/03/377220.htm Mon, 03 Aug 2015 09:43:43 +0000 http://www.insurancejournal.com/?p=377220 Marsh has completed its previously agreed acquisition of Leeds, England-based SME Insurance Services (SMEi), an independent broker which provides specialist commercial insurance to small and medium-sized enterprises across the UK. The transaction was announced on June 1. The addition of …

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TigerRisk Enters China Market with Opening of Hong Kong Office http://www.insurancejournal.com/news/international/2015/08/03/377217.htm Mon, 03 Aug 2015 09:24:27 +0000 http://www.insurancejournal.com/?p=377217 TigerRisk Partners LLC announced its first presence in Asia with the opening of the Hong Kong office of its subsidiary TigerRisk China Partners. TigerRisk China Partners is a member of the Hong Kong Confederation of Insurance Brokers, effective July 30. …

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Marsh & McLennan Seeks Ways to Cut Tax as Competitors Shift to London http://www.insurancejournal.com/news/international/2015/07/29/376579.htm Wed, 29 Jul 2015 06:19:55 +0000 http://www.insurancejournal.com/?p=376579 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 …

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Foreign Insurers Take Cautious Look at Iran Business in Wake of Nuclear Deal http://www.insurancejournal.com/news/international/2015/07/27/376332.htm Mon, 27 Jul 2015 08:04:27 +0000 http://www.insurancejournal.com/?p=376332 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 …

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Beazley CEO Calls on Lloyd’s to Overhaul Data Systems http://www.insurancejournal.com/news/international/2015/07/24/376252.htm Fri, 24 Jul 2015 14:56:27 +0000 http://www.insurancejournal.com/?p=376252 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 …

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DUAL Acquires Oliva Underwriting, UK-based MGA http://www.insurancejournal.com/news/international/2015/07/24/376216.htm Fri, 24 Jul 2015 09:28:12 +0000 http://www.insurancejournal.com/?p=376216 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 …

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Jardine Lloyd Sues Rival Howden Over Mass Resignation in Singapore http://www.insurancejournal.com/news/international/2015/07/24/376206.htm Fri, 24 Jul 2015 07:44:26 +0000 http://www.insurancejournal.com/?p=376206 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 …

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JLT Re Builds Programs & Binding Authorities Division with 3 New Hires http://www.insurancejournal.com/news/international/2015/07/23/376115.htm Thu, 23 Jul 2015 08:16:44 +0000 http://www.insurancejournal.com/?p=376115 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 …

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RKH Appoints Schlossmacher as Co-Managing Director of Financial Risks Division http://www.insurancejournal.com/news/international/2015/07/20/375699.htm Mon, 20 Jul 2015 10:20:27 +0000 http://www.insurancejournal.com/?p=375699 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, …

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Gallagher Buys 65% of ARM Re, Colombian Energy & Construction Specialist http://www.insurancejournal.com/news/international/2015/07/20/375696.htm Mon, 20 Jul 2015 09:56:22 +0000 http://www.insurancejournal.com/?p=375696 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 …

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Re/insurance Market Conditions Will Lead to More M&A Activity: A.M. Best http://www.insurancejournal.com/news/international/2015/07/20/375692.htm Mon, 20 Jul 2015 08:53:41 +0000 http://www.insurancejournal.com/?p=375692 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 …

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Near National P/C Carriers Identified for 2015 http://www.insurancejournal.com/magazines/features/2015/07/20/375084.htm Mon, 20 Jul 2015 00:00:00 +0000 http://www.insurancejournal.com/?p=375084 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 …

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Dressing Up for the Wedding: Agency Operations, Part 1 http://www.insurancejournal.com/magazines/features/2015/07/20/375088.htm Mon, 20 Jul 2015 00:00:00 +0000 http://www.insurancejournal.com/?p=375088 Business owners have a lot to consider when running a successful business. Unfortunately, many do not consider an exit strategy, especially in the early years of the business. Agency owners without an exit strategy will sometimes make decisions based on …

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Willis to Acquire PMI Health Group, UK-Based Healthcare Adviser & Broker http://www.insurancejournal.com/news/international/2015/07/16/375344.htm Thu, 16 Jul 2015 07:21:25 +0000 http://www.insurancejournal.com/?p=375344 Willis Group Holdings plc announced an agreement to acquire PMI Health Group (PMIHG), an independent healthcare adviser and broker in the UK. Willis said the deal will significantly raise the company’s presence in the UK employee benefits and healthcare market, …

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JLT Australia Deploys NetSuite Cloud Solution to Run Entire Business Life Cycle http://www.insurancejournal.com/news/international/2015/07/15/375049.htm Wed, 15 Jul 2015 09:09:18 +0000 http://www.insurancejournal.com/?p=375049 Jardine Lloyd Thompson (JLT) Australia, a subsidiary of the London-based insurance, reinsurance and employee benefits firm, has deployed NetSuite OpenAir cloud professional services automation (PSA) solution to run the entire business life cycle of its consulting practice, according to a statement …

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Fairfax Offers to Buy 26% of Indian Brokerage IIFL for $255 Million http://www.insurancejournal.com/news/international/2015/07/14/374911.htm Tue, 14 Jul 2015 11:33:55 +0000 http://www.insurancejournal.com/?p=374911 Fairfax India Holdings Corp., the $1 billion fund created by Toronto-based investor Prem Watsa, offered to buy 26 percent more in Indian brokerage IIFL Holdings Ltd.* for $255 million. Fairfax India announced an offer to purchase about 83.1 million shares …

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Willis Appoints Aubert to Executive Committee of London & Int’l Brokers’ Assn. http://www.insurancejournal.com/news/international/2015/07/13/374803.htm Mon, 13 Jul 2015 12:50:03 +0000 http://www.insurancejournal.com/?p=374803 Willis Group Holdings has appointed Nicolas Aubert, CEO of Willis GB, to the executive committee and board of the London & International Insurance Brokers’ Association (LIIBA)*. In addition, Aubert was named LIIBA representative to the London Market Group (LMG), a …

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Mulligan, Marshall Receive AAMGA Recognitions http://www.insurancejournal.com/news/national/2015/07/10/374672.htm Fri, 10 Jul 2015 13:30:54 +0000 http://www.insurancejournal.com/?p=374672 Two long-time members of American Association of Managing General Agents (AAMGA) were recognized with service-based awards at the association’s Annual Meeting in Maryland in May. Thomas Mulligan, a board member of Western World Insurance and the company’s former president from 2010 …

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Colosso to Retire as CEO of Howden UK http://www.insurancejournal.com/news/international/2015/07/08/374391.htm Wed, 08 Jul 2015 09:39:12 +0000 http://www.insurancejournal.com/?p=374391 Hyperion Insurance Group, the London-based employee-owned insurance and reinsurance intermediary group, announced that Adrian Colosso will be stepping down and retiring from his role as CEO of Howden UK at the end of July 2015. Colosso came out of retirement …

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Marsh & McLennan Agency Enters Canadian Market with Purchase of Vézina http://www.insurancejournal.com/news/international/2015/07/08/374381.htm Wed, 08 Jul 2015 08:56:56 +0000 http://www.insurancejournal.com/?p=374381 Marsh & McLennan Agency LLC*, a subsidiary of Marsh, has acquired Vézina, a Montreal, Quebec-based independent insurance brokerage firm. The acquisition includes the property/casualty brokerage division Vézina Assurances Inc. and group benefits division Vézina & Associes. Terms of the transaction were …

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