Agents & Brokers News

UK Regulator’s Broker Probe May Make London Market More Competitive: Fitch

The UK Financial Conduct Authority’s review of the wholesale insurance broker market could help counter the trend of rising expenses for London market insurers, according to a Fitch Ratings briefing. This could make London more competitive with smaller hubs in …

California Wildfires May Lead to $8B in Insured Losses: Aon Benfield

California’s historic wildfires may lead to as much as $8 billion in insured losses. That’s a record for insurers, according to the October 2017 Global Catastrophe Recap from Aon Benfield’s Impact Forecasting. The surge in October wildfires killed at least …

UK Regulator to Probe Wholesale Insurance Broking Market

Britain’s financial services industry regulator is to launch later this week a long-promised investigation into competition in the wholesale insurance broking market, where one top executive has complained of “abusive behavior.” The Financial Conduct Authority said on Monday it would …

Willis Towers Watson Taps Yeung from AIG as Head of P/C, North Asia

Willis Towers Watson announced the appointment of Evariste Yeung as head of Property and Casualty, North Asia. Yeung’s appointment took effect on Sept. 25, 2017. He is based in Shanghai and reports to Richard Collis, managing director for Willis Towers …

China May Be Poised to Outpace U.S., Europe in Insurtech Innovation

Without legacy systems to drag down their efforts, companies in emerging market—and China, in particular – may be poised to outpace U.S. and European counterparts developing insurtech innovations. Unencumbered by legacy systems, technology innovators in emerging markets are often able …

Lockton Taps Davies from JLT as SVP, Property, in Bermuda

Lockton, the world’s largest privately held insurance broker, has appointed Gareth Davies as senior vice president, Property, in Bermuda. He will focus on growing the business, particularly in the property area, in a market that could be difficult over the …

QBE North America Forms Alliance with MGA Professional Risk Facilities

QBE North America, an operating division of QBE Insurance Group Ltd., announced a strategic program underwriting alliance with managing general agent Professional Risk Facilities (PRF), designed to offer coverage for miscellaneous errors & omissions (E&O) cover, media liability, tech E&O …

Aon Completes Acquisition of Dutch Broker Unirobe Meeùs Groep

Aon Groep Nederland announced it has completed its acquisition of Unirobe Meeùs Group (UMG) from Aegon for €295 million (343.4 million). The acquisition encompasses the whole of Unirobe Meeùs Group, said Aon, noting that on completion Aon will be the …

Lloyd’s Re/Insurance Broker RFIB Launches Singapore Operation

RFIB Group Ltd., the Lloyd’s insurance and reinsurance broker, announced the launch of RFIB (Singapore) Pte Ltd. The new operation will serve as a hub for the continued development of RFIB’s presence across Asia, said London-based RFIB. “Asia represents a …

UK-Based MGA Nexus Group Buys Trade Credit Broker, Credit Risk Solutions

Independent specialty managing general agent Nexus Group announced it has acquired Credit Risk Solutions Ltd. (CRS). Established in 2003, CRS is an independent specialist trade credit broker operating with headquarters in Halifax and offices in Manchester and Birmingham, England. Details …