PE firm Parthenon buys into Venbrook at around 10x EbitdaParthenon Capital has taken a majority stake in privately held US broker Venbrook Group, The Insurer can reveal.
Willis launches financial institutions DBS panel with six carriersWillis Towers Watson has confirmed the launch of its financial institutions (FI) carrier panel with support from Chubb, CNA, The Hartford, Sompo International, Travelers and Zurich.
TigerRisk secures Flexpoint Ford investment for next phase of growthTigerRisk has landed a strategic growth investment from private equity firm Flexpoint Ford LLC to accelerate its current trajectory by providing access to capital and resources as it eyes opportunities from the fall-out from broker consolidation, The Insurer can reveal.
Lockton Mountain West Series hires Aon veteran BolgerLockton has added to its Mountain West Series operations with the arrival of the long-standing managing director of Aon’s Denver office, John Bolger.
Organic growth to flatten despite P&C pricing momentum: TruistMcGriff and CRC’s banking parent Truist said that it expects organic growth in its insurance business to fall back to a flat to 2 percent up range for the remainder of the year despite momentum continuing on pricing.
Truist Insurance Holdings reports organic revenue growth of 7.2%CRC and McGriff’s banking parent Truist Financial Corporation reported organic revenue growth of 7.2 percent and adjusted Ebitda that jumped 22 percent from $140mn to $171mn in its Insurance Holdings business.
Broker E&O underwriters bracing for wave of Covid-19 claimsBroker E&O insurers including Swiss Re Corporate Solutions are facing a potential surge in claims from US retail agents and brokers sued by insureds alleging that they failed to properly advise about purchasing appropriate coverage for Covid-19 business interruption losses, The Insurer can reveal.
Howden acquires Greek broker MatrixHowden Broking Group has acquired Lloyd’s broker Matrix Insurance and Reinsurance Brokers (Matrix), a specialist in large corporate and industrial risks in Greece and Cyprus.
Ed hires AJG’s Perera for transactional risk headBroker Ed has appointed Niraj Perera as head of transactional risk in its professional and executive risk team.
March loss bill from US storms approaches $2bn: AonA series of severe storms across the US in March have caused damages approaching $2bn, according to the latest global catastrophe recap report from Aon.
Aon launches unit to support distressed clientsAon has launched a new US-focussed unit dedicated to supporting distressed companies as they consider bankruptcy or a wider restructuring, The Insurer can reveal.
Ex-AGCS specialty CUO O’Neill resurfaces as RKH Specialty APAC leaderRKH Specialty has appointed Paul O’Neill as chief executive officer of its Asia Pacific operation, with the former Allianz Global Corporate & Specialty (AGCS) executive returning to the industry after an eight-month hiatus.
Gallagher names Collings UK broking and placement MDBroker Arthur J Gallagher has promoted Simon Collings to the role of managing director of its national broking and placement team, part of the UK retail division, to replace Mark Armitage who retired in March.
Protecdiv adds former Texas commissioner Montemayor to boardPhiladelphia-based broker Protecdiv has added Jose Montemayor to its board.
One80 buys program specialist International Excess Program ManagersExpansive One80 Intermediaries has completed its largest acquisition to date with a deal to buy wholesale broker and program manager International Excess Program Managers (IEPM).
Impact of “savage” downturn could see upstream energy capacity pull outThe impact of the plunging oil price and looming global recession on the upstream energy sector’s premium base means that underwriters could withdraw capacity next year, according to Marsh JLT Specialty.
McGill and Partners completes largest complex P&C deal on Whitespace platformBroking start-up McGill and Partners has completed a complex transaction involving 40 market reform contracts on the Whitespace digital trading platform.
Former JLT Re head Reynolds to join PE-backed SSL EndeavourJLT Re’s former chief executive Mike Reynolds is set to join JC Flowers-owned SSL Endeavour, The Insurer revealed earlier today (6 April).
MMC trio see double digit increase in 2019 compensationMMC CEO Dan Glaser saw an 11.4 percent uplift in his total direct compensation last year to $19.5mn, including a 44.4 percent hike in his annual bonus to $6.5mn on the back of bringing home the JLT acquisition along with continued organic revenue and EPS growth.
War facing strongest rating demand across aviation marketRates across the aviation insurance market continue to rise, but it is the war sub-class of business where the demand for pricing improvement is strongest as underwriters grapple with a series of losses on their books, according to Gallagher’s latest Plane Talking report.