Market Overview

A.M. BestTV: Top Global Brokers See Shift in Ranks

Share:
OLDWICK, N.J.--(BUSINESS WIRE)--

In this A.M.BestTV episode, growth, acquisitions and new areas of focus are fueling changes among the world's largest brokers, including changes among the top five and new entrants. Patricia Vowinkel, executive editor, Best's Review magazine and Douglas Turk, chief marketing officer, Jardine Lloyd Thompson Group (JLT), assess the changing market. Click on http://www.ambest.com/v.asp?v=brokers716 to view the entire program.

This year's ranking of global brokers, published in the July issue of Best's Review, shows unrelenting competition among the world's largest insurance providers.

"Best's Review produces this list by reaching out to the broker community and asking them to submit their financial information to us," said Vowinkel. "We review their information and do some of our own research by looking at their reported earnings for the year."

The top four spots, led by Marsh & McLennan Cos. and Aon plc, were unchanged from the previous year, but JLT advanced into the top five in 2015. Turk said JLT has been enhancing its presence in the North American market.

"JLT has seen tremendous growth in the first half of this year: 93% year-over-year growth from the first half of 2015 to 2016," said Turk. "This is really due to our specialty focus and primarily not being all things to all people. We know where we play well."

To access a copy of the July issue of Best's Review, go to http://www.bestsreview.com.

Recent episodes of A.M.BestTV include:

  • AIR Worldwide's Fullam: Zika One of Multiple Pandemic Threats: Doug Fullam, manager, life and health modeling, AIR Worldwide, discusses the issues surrounding pandemics and other global health threats that include the Zika virus, respiratory illnesses and new types of flu: http://www.ambest.com/v.asp?v=fullam716.
  • Aspen's Brew: Compliance Is Not the Same as Security: Oliver Brew, executive vice president, global head of cyber risk and head of international professional indemnity, Aspen Insurance Group, said cyber exposures are increasingly linked to property risks. With broader rules on security and privacy forcing companies to focus on protecting their systems, Brew said most companies need to go further: http://www.ambest.com/v.asp?v=brew716.
  • Minding the Gap in Cyber Coverage: In a recent A.M. Best webinar, insurers and technologists examine how cyber policies are struggling to keep up with fast-developing cyber risks, as well as identifying and addressing gaps in coverage: http://www.ambest.com/v.asp?v=cyber716.
  • Driverless Cars Set to Remake Automobile Coverage: McKinsey & Co. predicts driverless cars will hit the road in 2020, but a new survey from Munich Re reports that many insurers are unprepared for the changes that autonomous vehicles will bring to the auto insurance sector: http://www.ambest.com/v.asp?v=autonomous716.

A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2016 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

A.M. Best
Lee McDonald
Group Vice President, Publication and News Services
+1 908 439 2200, ext. 5561
lee.mcdonald@ambest.com

View Comments and Join the Discussion!