Best's review's top global reinsurance brokers.Best's Review presents its premier listing of top global reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. brokers with in-depth looks at leading firms' results and strategies. Four of the listees, Aon Re Global, Guy Carpenter Guy Carpenter was fictional character in the Australian soap opera Neighbours played by Andrew Williams from 1991 to 1992. Family Tree
1. Aon Re Global Revenues 2006: $922 million Top Executive: Michael D. O'Halleran, Chairman and Chief Executive Officer Aon Center The Aon Center is the name of two buildings.
Phone: (312) 381-5300 Fax: (312) 381-0266 www.aon.com Top Lines Addicts speak of top lines to prevent approaching doing something which may trigger a slip, relapse or loss of sobriety. As addicts work with sponsors to help them understand their addiction and the behaviors which trigger their addiction or actions which endanger their : Treaty and facultative; property and casualty; accident; health Developments in 2006: Structured organization into four regions with networks of local experts. ARG See argument. arg - argument continued to invest in the company, expanding analytics, modeling and consultative services globally. Further organized expertise around global and regional practice groups. Aon Capital Markets raised more than $2 billion of capital for the company's clients. Rated as the largest reinsurance intermediary, and also as Best Reinsurance Broker by several industry readers' choice polls. Strategy in 2007 and 2008: In 2007 ARG announced the formation of Aon Re Global Fac, which will broaden regional facultative reinsurance brokerage capabilities. The group will specialize in reinsurance placement of casualty, construction, terrorism, power and on- and off-shore energy, operating in more than 30 offices globally and working with clients ranging from global cedents to captive insurers. A Global Reinsurance Clients group created by ARG will focus on global clients. Global Market Relationships personnel will work with reinsurers. Company sees pricing down internationally and higher seat retentions in the Americas, but sees strong growth in Canada and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . Expects investments in facultative reinsurance business to start yielding returns in the second quarter of 2007 and into 2008. 2. Guy Carpenter & Co. Inc. Revenues 2006: $880 million Top Executive: David Spiller, President and Chief Executive Officer 1 Madison Ave., 4th Floor, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York 10010-3658 Phone: (917) 937-3000 Fax: (917) 937-3500 www.guycarp.com Top Lines: Property catastrophe; general property; general liability; specialty Developments in 2006: Revenues grew 5% on an underlying basis, driven by double-digit growth in new business. U.S. properly catastrophe reinsurance rates rose, but rates for other lines were stable or down. The market for property catastrophe reinsurance continued to be impacted by limited reinsurer re·in·sure tr.v. re·in·sured, re·in·sur·ing, re·in·sures To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. capacity and higher risk retention by insureds. Strategy in 2007 and 2008: Focus on client retention in a market of declining casualty reinsurance rates and increased risk retention by clients. Protect reinsurance broker talent from raids by competitors. Increase use of analytics technologies. 3. Benfield Group Benfield Group Limited is a reinsurance and risk intermediary based in London, England. It has been listed on the London Stock Exchange since June 2003 and is a constituent of the FTSE 250 Index. Ltd. Revenues 2006:$696.07 million Top Executive: Grahame Chilton, Group Chief Executive Officer 55 Bishopsgate, London, EC2N 3BD, England Phone: (44-20) 7578-7000 Fax: (44-20) 7578-7001 www.benfieldgroup.com Top Lines: Property; casualty Developments in 2006: Created and established Starbound Re, a special purpose reinsurance vehicle (or sidecar 1. sidecar - Synonym slap on the side. Especially used of add-ons for the late and unlamented IBM PCjr. 2. sidecar - The IBM PC compatibility box that could be bolted onto the side of an Amiga. ) that raised $400 million of new U.S. property catastrophe capacity; formed joint venture with Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. to offer catasfrophe bonds; ReMetrica DFA DFA - Deterministic Finite-state Automaton. See Finite State Machine. modeling tool for economic capital modeling selected Ernst & Young; successfully rolled out first phase of GRIDS Global, Benfield's innovative business processing platform. Strategy in 2007 and 2008: Lead the market in corn plex risk solutions through innovation, expertise and excellence; generate earnings growth across the reinsurance cycle through growth in market sham; optimize margins through focus on high-value-added, customer-driven business together with robust cost control; make optimum use of surplus cash to enhance earnings. 4. Willis Re Revenues 2006:$597.7 million Top Executive: Grahame Millwater, Chairman 10 Trinity Square, London, EC3P 3AX, England Phone: (44-20) 7468-8111 Fax: (44-20) 7488-8976 wvw.willisre.com Top Lines: Aviation, marine and retrocession RETROCESSION, civil law. When the assignee of heritable rights conveys his rights back to the cedent, it is called a retrocession. Erskine, Prin. B. 3, t. 5, n. 1; Dict. do Jur. h.t. . Developments in 2006: Began offering analysis of hurricane and climate forecasts to clients through a partnership with Accurate Environmental Forecasting, expanded into Nordic market with the acquisition of Link Forsikringsmegling AS, broadened market support for political risk reinsurance. Strategy in 2007 and 2008: Aggressive production allied with strong client management and client advocacy. 5. Towers Perrin Towers Perrin is a global professional services firm. It was established 1 March 1934 as Towers, Perrin, Forster & Crosby. The umbrella name of Towers Perrin was adopted in 1987. Revenues 2006: $165 million (Reinsurance brokerage revenues only.) Top Executive: Mark Mactas, Chief Executive Officer Centre Square East, 1500 Market St., Philadelphia, Pennsylvania 19102-4790 Phone: (215) 246-7800 Fax: (215) 246-1700 www.towersperrin.com Top Lines: Workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. ; property catastrophe; specialty casualty Developments in 2006: Expansion of Bermuda presence; continued growth in London market; restructuring along product segments and company sector for better clarity of services to clients. Strategy in 2007 and 2008: Examine new geographic regions; make strategic hires in key product lines; further expand enterprise risk management offerings; continue development of comprehensive marketing initiative of integrated offering of Tillinghast and Reinsurance products and services. 6. Cooper Gay (Holdings) Ltd. Revenues 2006:$133.2 million Top Executive: Tobias "Toby" C.D. Esser, Group Chief Executive, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. 52 Leadenhall St., London, EC3A 2EB, England Phone: (44-20) 7480-7322 Fax: (44-20) 7481-4695 www.coopergay.com Top Lines: Nonmarine; reinsurance; marine; aerospace Developments in 2006: Continued expansion in regions and sectors targeted for growth. Investment to capture opportunities in North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Domestic Treaty market proceeded as planned. Solid progress from U.K. brokering business. European operations progressed well. Strategy in 2007 and 2008: Continue expanding in the Latin American market where possible. 7. BMS BMS abbr. Bachelor of Marine Science Group Revenues 2006:$107.75 million Top Executive: John Spencer, Group Chief Executive One America Square, London, EC3N 2LS, England Phone: (44-20) 7460-7288 Fax: (44-20) 7374-5928 www.bmsgroup.com Top Lines: Property reinsurance; medical malpractice Improper, unskilled, or negligent treatment of a patient by a physician, dentist, nurse, pharmacist, or other health care professional. ; other professional liability Developments in 2006: Continued to build U.S. business with mid-market regional and specialist insurers, hiring several senior recruits; overhauled new brokering system; used single IT platform to take advantage of growing momentum behind London Market Process Reform initiatives; moved all U.K. brokering and client service teams to a single trading floor at One America Square. Strategy in 2007 and 2008: Focus on profitable growth in lines and regions where experience and relationships allow BMS to take or develop a leadership position and become a leading reinsurance and insurance broker in all product and geographic markets in which the group operates. Business priorities include insurance and reinsurance brokering, delegated authority administration, underwriting agency services and legacy claims management. 8. JLT JLT Journal of Lie Theory JLT Jardine Lloyd Thompson Group PLC JLT Junior Leader Training (Boy Scouts of America) JLT Just Like That JLT Junior League of Toronto JLT Junior League of Tulsa JLT Junior League of Tampa Reinsurance Brokers Ltd. Revenues 2006: $86.4 million Top Executive: Dominic Burke, Group Chief Executive 6 Crutched Friars, London, EC3N 2PH, England Phone: (44-20) 7466-1300 Fax: (44-20) 7466-1470 www.jltgroup.com Top Lines: Marine; aviation; nonmarine reinsurance Developments in 2006: JLT Reinsurance Brokers Limited (JLT Re) was established Jan. 1,2006, as a dedicated reinsurance brokering and consultancy operation of JLT Group, under separate management, to meet changing needs of global reinsurance clients. Assumed responsibility for London, Singapore, Hong Kong and Tokyo offices; opened offices in New York and Chicago; established presence in Bermuda. At year end, employed more than 150 reinsurance professionals offering treaty and facultative solutions. Attracted senior market practitioners; achieved new business wins. Established the Business Research Team, which generates significant interest as a value-added extension for transactional clients and a stand-alone advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . Strategy in 2007 and 2008: Strengthen capabilities to increase market share in the nonmarine reinsurance sector. 9. Gallagher Re Revenues 2006: Gallagher Re declined to provide 2006 revenue. Ranking based on published reports. Top Executive: Simon Gander Gander, town (1991 pop. 10,339), NE Newfoundland, N.L., Canada. Gander's airport, an important base in World War II, is a hub for international flights; it also attracts many refugees. It was the site of a Dec. , Chief Executive Officer 6 Alie St., London, E1 8DE, England Phone: (44-20) 7204-6000 Fax: (44-20) 7204-6262 www.gallagherre.com Top Lines: Property and casualty; life; accident; health Developments in 2006: In December, Gallagher Re and the New York Mercantile Exchange New York Mercantile Exchange (NYMEX) The world's largest physical commodity futures exchange. agreed that NYMEX See New York Mercantile Exchange. NYMEX See New York Mercantile Exchange (NYM). will list for trading and clear Property Damage Risk contracts. These contracts will allow real-time electronic trading of property damage risk exposures, including hurricane risk, through a cleared futures exchange Futures Exchange Traditionally, a term referring to a central marketplace where futures contracts and options on futures contracts are traded. More recently, with the growth in electronic trading, it is also used to describe the activity of futures trading itself. . Contracts will be settled against the Re-Ex Index, created by Gallagher Re. Strategy in 2007 and 2008: Become established, within three to five years, as the sought-after advisory partner in reinsurance with a business model akin to the professional services, business consulting or investment banking sectors, in which the traditional broker becomes one component in a matrix of specialist skill sets. 10. Collins Revenues 2006: $59 million Top Executive: Patrick J. Denzer, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. 8500 Normandale Lake Blvd., Suite 2400, Minneapolis, Minnesota 55437 Phone: (952) 820-1000 Fax: (952) 820-2700 www.collins.com Top Lines: Property; property catastrophe; professional liability Developments in 2006: Ceded premiums quintupled in the past 10 years, from $368 million in 1995 to approximately $2 billion at year-end 2006. Strategy in 2007 and 2008: Continue to expand expertise and market presence. Strengthen global reach of analytical services including calastrophe modeling, and financial accounting including capital raising.
Top 10 Global Reinsurance Brokers
Revenues
Broker 2006
1 Aon Re Global $922 million
2 Guy Carpenter & Co. Inc. $880 million
3 Benfield Group Ltd. $696.07 million
4 Willis Re $597.7 million
5 Towers Perrin $165 million *
6 Cooper Gay (Holdings) Ltd. $133.2 million
7 BMS Group $107.75 million
8 XT Reinsurance Brokers Ltd. $86.4 million
9 Gallagher Re -- *
10 Collins $59 million
* Reinsurance brokerage revenues only
** Gallagher Re declined to provide 2006 revenue. This ranking is based
on published reports.
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