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.

In her new position, the executive will oversee the South American region, excluding Brazil.

The CEO also heralded the group’s “best full-year brokerage segment organic performance in decades”, with a figure of 9.7%.

The charges spanned workforce actions, rationalizing technology and reducing the overall real estate footprint.

The executive said the 1 January renewal was the “most challenging” in almost two decades.

Organic growth has been slowing after a period of bumper double-digit expansion.

Before the move, the executive spent 12 years at Aon working as a reinsurance broker based in London.

Sources said the company obtained the license from local authorities to operate as a reinsurance broker and is running a similar process in Colombia.

While BMS has achieved a solid price and a favourable investor structure, there are signs of a cooler M&A market ahead.

Major M&A this year has settled the future of a number of players – while the hard market presents an opportunity for challengers.

Aon Reinsurance Solutions has appointed fac strategic growth leader Muñoz to take over Tassarotti’s position as deputy CEO of global fac.

Evan Freely will head up a team of 130 staff specializing in credit and political risk.

James Floyd joins from Gallagher, where he was a director on its crisis management team.