MMC

Mercer's Ferland promoted to CEO, Portalatin named MMC vice chair

Marsh & McLennan Companies has named Martine Ferland president and chief executive officer of its investment consultancy arm Mercer, effective 1 March 2019.

JLT Re’s Florida head Betz to depart

JLT Re’s National Catastrophe Practice co-leader Bob Betz is set to retire from the firm at the end of 2019, The Insurer can reveal.

MMC issues $5bn debt to finance JLT deal

MMC will shortly issue $5bn of senior debt that will ensure the New York-headquartered firm doesn’t require a more expensive bridging loan to fund its $5.6bn JLT acquisition.

Marsh unveils more post-JLT acquisition segment leaders

Marsh has set-out the leaders of its UK and Ireland business following the completion of its £4.3bn acquisition of rival broking house JLT.

JLT’s head of global aerospace Joe Trotti to leave

JLT’s global head of aerospace Joe Trotti has become the latest high profile departure from the UK broker ahead of the closure of its £4.3bn acquisition by MMC.

Marsh unveils regional and specialty leadership team post-JLT acquisition

Marsh has set-out the leaders for its regional, specialty, and placement teams worldwide when its acquisition of JLT completes next year.

Airline insurers show resolve with Ethiopian renewal

Chubb is highlighting airline insurers’ resolve to push up rate with an even higher lead quote for the imminent Ethiopian Airlines renewal than was supplied in the summer.

Mercer to name JLT exec as new COO

Investment consultancy Mercer will make the CEO of JLT’s employee benefits arm, Bala Viswanathan, its chief operating officer when the acquisition of JLT by its parent company MMC completes.

JLT notifies staff of £100mn retention awards ahead of new global structure

As the post-takeover operating structure of MMC and JLT begins to take shape, JLT’s qualifying staff have been notified of their entitlements under the £100mn retention bonus scheme that was announced as part of the £4.3bn acquisition.

The storm before the calm…

The Insurer was in Bermuda last week and the weather was a perfect metaphor for the mood among (re)insurers.

Munich Re incurs major Ituango dam loss

Munich Re has incurred a substantial Ituango dam loss despite not being on original placement and was the principal reason for missing a Q2 P&C consensus earnings target by almost Eur300mn, Re-Insurance can reveal.

JLT Re chairman Howard to take Guy Carpenter role

MMC is unveiling the next wave of integration ahead of the completion of its £4.3bn JLT acquisition next year with the appointment of JLT Re chairman Ross Howard to the post of Guy Carpenter vice chairman, while JLT Re CEO Mike Reynolds exits the intermediary.

JLT Re expands Iberia footprint

JLT Re, the reinsurance broking arm of JLT, has launched JLT Re Iberia through the acquisition of JLT March Re. Located in Madrid, JLT Re Iberia will provide local expertise to clients and create a link with colleagues and clients in Latin America.

MMC unveils major new combined unit Marsh-JLT Specialty

*Clarke head of specialty **Klisura head of placement ***JLT executives get key roles in new structure

JLT shareholders approve Marsh take-over bid

MMC has received near unanimous approval from JLT shareholders for its £19.15 per share take-over bid.

Global insurance M&A at highest level since the financial crisis

Deal value for global insurance M&A hit €37bn ($42bn) in the first six months of 2018, the highest H1 total since the financial crisis and driven by a slew of megadeals.

Topsail Re targets property cat and retro business

Cayman Islands start-up reinsurer Topsail Re will look to write property cat, per risk and proportional business as well as property cat retro and auto quota share as it gears up for 1 January renewals.

MMC CEO Dan Glaser heralds “excellent” Q3 performance

MMC President and CEO Dan Glaser has described the performance of the group’s broking arms as “excellent” in the third quarter with underlying growth of 5 percent overall and 11 percent for its reinsurance unit, Guy Carpenter.

'Extremely dangerous' Category 4 Hurricane Willa nearing Mexico's Pacific coast

Hurricane Willa is nearing the Pacific coast of Mexico as a Category 4 storm, bringing the potential for life-threatening storm surge, wind and torrents of rain.

Gard swoops on another flagship London marine account

Norwegian carrier Gard has secured another landmark London marine hull account, taking over from Lloyd’s insurer QBE as the lead on the London placement of the Qatar LNG fleet program, Re-Insurance can reveal.

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