In a statement released earlier this week, Lloyd’s announced that CEO John Neal will be leaving to take up a role as global CEO of Aon’s reinsurance business and global chairman of climate solutions. Mark Geoghegan recently interviewed our client, Andrew Matson at Augment Risk – tune in to find out how they are challenging the traditional broker model through a laser focus on client outcomes and the provision of holistic capital solutions.
Lloyd’s of London CEO John Neal to leave in 2025 (Source: Reuters)
In Neal’s six-year tenure he tackled losses from “a global pandemic, wars, and natural catastrophes such as hurricanes and wildfires.” However, despite these challenges the market “reported a 26% jump in first-half profit in 2024”.
LA wildfire insured losses could exceed $20bn: J.P. Morgan (Source: Reinsurance News)
As fires continue to spread, analysts from J.P. Morgan are anticipating that “the majority of insured losses [will] hit the homeowners’ line of business, with primary insurers poised to assume a greater share of the loss than reinsurers.”
The Voice of Insurance Ep. 236 Andrew Matson, CEO of Augment Risk (Source: LinkedIn/The Voice of Insurance)
The Voice of Insurance podcast talks to Augment Risk, a global risk capital solutions broker (that now handles over $1.5bn of premium, just 2 years after launching), who are approaching broking in a “profoundly different” way.
Global M&A activity recovered in 2024 – Gallagher Specialty (Source: Insurance Business Magazine)
Gallagher Specialty said “deal activity grew gradually in the latter half as sale preparations increased and vendors became more engaged in the due diligence process…In the UK and European Economic Area (EEA), H1 2024 was very slow due to global economic uncertainty but activity picked up throughout the rest of the year.”
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