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The division will be led by former Guy Carpenter executives.
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Irish regulations required an early announcement from the firm that it had considered a deal. -
A deal would take the combined entity to the top spot by (re)insurance broking business revenue.
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A new boutique (re)insurance broker set up by former Aon president Steve McGill is looking to launch in the second quarter, sister publication The Insurance Insider reported.
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The CEO also predicted that (re)insurance conglomerates will take the lead on developing ILS platforms rather than sole insurers.
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The UK regulator said it had no significant worries about market competition but that areas for improvement remain.
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Hurricane Michael generated a larger loss for the carrier than 2017’s Irma.
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The broker said new capital inflows to the sector also reduced from the levels seen last year.
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The JLT index is below levels recorded in 2016 and around 30 percent below 2013 benchmarks.
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ILS broker-dealers expect 2019 cat bond issuance to range from $7bn to above $10bn.
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The reinsurance broker said it was difficult to measure how much capital had been trapped or lost.
