Ryan Hewlett

Global (re)insurance executive search firm Eliot Partnership has appointed former Lloyd’s regional manager Andrew Woodward as senior advisor, Middle East, effective immediately.

Ryan Specialty has acquired Canadian managing general underwriter Stewart Specialty Risk Underwriters in a deal that will see London-listed venture capitalist BP Marsh receive C$51.9 million ($37.1 million) for its 28.2% shareholding in the firm.

XS Brazil is targeting $100 million in gross written premium by 2030, according to country manager Newton Queiroz, who says the (re)insurance MGU is entering a new phase of expansion driven by the launch of its direct business and growing demand from Brazil’s vast SME sector.

Even in an industry that seems to run on M&A, there are few broker transactions as noted as KKR’s buyout of the then British blue-chip Willis Group in 1998 and its subsequent turnaround and IPO under the stewardship of Citi banking veteran Joe Plumeri.

Gallagher UK non-executive chair Sue Langley was elected as the 697th Lord Mayor of London on Monday, succeeding Alastair King.

Lloyd’s has been handed large pre-emption requests by three of its notable recent entrants, with Convex, The Fidelis Partnership and Oak Re seeking approvals that would increase their collective stamp capacity by more than 900 million pounds ($1.22 billion) for 2026.

Economic and insured losses to infrastructure and agriculture from monsoon-related flooding in India and Pakistan since June 1 will likely reach the single-digit billions of dollars, according to Aon’s Impact Forecasting unit.

Convex is looking to grow its newly minted Lloyd’s Syndicate 1984 by increasing its stamp capacity for 2026, with group CEO Paul Brand commenting that the firm would be “foolish” not to seize the opportunity afforded by Lime Street.

European legacy group Marco Capital Holdings Limited has continued to build out its captive portfolio with a deal to buy Ireland-based Benteler Reinsurance Company DAC.

Dame Sue Langley, the non-executive chair of Gallagher UK and a future Lord Mayor, called for greater collaboration to ensure the London (re)insurance market remains uniquely positioned to protect global business.