Brokers

The specialty business – which includes Price Forbes and Bishopsgate – reported 16% organic growth in an integration year.

The specialty leader had worked at recent acquisition Willis Re since 1998.

The companies did not disclose whether any money exchange hands as part of the agreement.

Intermediaries have highlighted the ‘evolution’ in reinsurance buying as hard market conditions are expected to continue.

John Thompson, Graham Kilby, Richard Peers and Russ Nichols will take the top jobs.

In the firm’s 2023 State of the Market report, it covered multiple classes, warning that for property (re)insurance in particular, inflation will likely continue to inflict pressure.

The appointments aim to provide clients with a product-agnostic view on accessing capital in a capacity-constrained market.

Brookfield will continue to operate under its own brand, and CEO Leonard Münz will still lead the business, as part of the transaction.

It is understood that Tysers’ Latin America head Hugh Powell, who is also a shareholder in the South American operation, has left the UK brokerage.

There has been no let-up in rate reductions so far this year, as fears mount about the profitability of the class.

Based in Mexico City, Brockmann will report to Marsh McLennan International CEO Flavio Piccolomini, who took over that role earlier this month.

Human rights groups have issued a complaint to a US mediation body alleging that Marsh has violated OECD guidelines for corporate standards.