Danny Walkinshaw on the latest (re)insurance stories online
Global Reinsurance’s online readers certainly have an eye for a big deal as our list of the top five online stories in June reveals.
Leading the pack over the past month was the deal between Marsh & McLennan Companies (MMC) and Altegrity for the broker’s risk consulting business Kroll.
Online readers may have raised their eyebrows at the fact that Altegrity is run by former MMC and Kroll chief executive Michael Cherkasky, or just by the sheer size of the $1.13bn deal that is expected to be finalised by late September.
US websites also got excited about the buy-out and it made online headlines from New York to Toronto.
Forbes.com’s headline read ‘Marsh unloads Kroll for $1.13bn’ and the merger was also the subject of discussion in the DealBook blog section of the New York Times site.
The next big deal that got mouse buttons clicking on the GR site also came from the States, as London-based Cooper Gay lined up a move for US wholesale broker Swett & Crawford. The combined business would create the largest independent global wholesale and reinsurance broker in the world, the firms said. Online readers will be anticipating more developments in this one.
Elsewhere on the web, Reuters reported how Credit Suisse analysts were tipping Munich Re and Reinsurance Group of America as potential buyers of Dutch insurer Aegon’s Transamerica Reinsurance unit and Catlin’s plans to create a new Swiss venture to boost its presence in the European reinsurance market.