Category: Press Release

Crypto crime hit a new all-time high in 2023, accounting for a record-setting $20.6 billion worth of blockchain transactions last year, with the number of blockchain transactions affected by criminal activity doubling compared to 2022.  

But for victims of crypto asset investment fraud, the cost of trying to recover stolen assets can quickly escalate. It can cost upwards of £250,000 to investigate and recover lost crypto assets, and if it is possible to find a litigation funder willing to act purely on a contingency basis, they will likely require a significant cut of the value of any recovery.  

To combat this, M2 Recovery has launched its pioneering crypto legal expenses policy – the world’s first insurance policy for recovery of crypto assets valued at more than £250,000, addressing the pressing need for protection against the rising tide of crypto fraud. M2  

Recovery founder Neil Holloway says: “Our insurance policy is the first of its type globally, which provides policyholders with legal expenses following crypto fraud. We can insure legal expenses relating to crypto assets collectively worth tens of millions for investors, neobanks and in-play betting companies. “This includes digital assets invested through the metaverse, utility tokens such as Freeway Tokens, and crypto assets appropriated through man-in-the-middle attacks. And with more investment scams in play than ever before, reducing your exposure to risk on large crypto investments has never been more important.” Crypto investors buying a policy have access to M2 Recovery’s market leading in-house legal team to recover the lost assets. The costs of recovery are also covered by the policy. It’s the only insurance product in the marketplace that covers up to £250,000 of legal expenses and disbursements associated with recovering assets lost as a result of any type of theft or fraud.  

McGill and Partners, the global boutique specialist (re)insurance broker, has assisted M2 Recovery in the design and placement of the policy with Lloyd’s of London insurers to allow M2 Recovery to launch this product. 

Paul Morgan, Partner in the Financial Lines team at McGill and Partners said: “The issue of fraud and loss of assets is a growing problem in the crypto world, and we’re delighted to be working with M2 Recovery on this pioneering solution, offering pre-incident crypto legal expenses insurance. That we’ve been able to work in partnership to develop a solution that responds to a pressing need, emphasises the agility we have as a business to respond quickly and in a way that meets the pressing needs of the marketplace more widely.” 

M2 Recovery’s director of legal services Louise Abbott said: “The threat to crypto assets has never been greater, with cyber criminals becoming increasingly sophisticated in how they act. We have built a team of cyber intelligence specialists, recovery agents, forensic investigators and expert lawyers, all working under one roof with our proprietary technology to combat this fraud. “In what is an incredibly complicated market, we are incredibly proud to have a 100% success rate, and this new policy means more victims will be able to use our exceptional skill set to recover their crypto assets” 

We have expanded our ports and terminals offering with the appointment of Julien Horn as a Partner. Julien joins the team headed up by Julien Hubbard, adding expertise in logistics and transportation. Julien joins us from TT Club, an independent provider of mutual insurance to the international transport and logistics industry.  

He worked at TT Club since 2006 and spent the last four years as a Senior Underwriter in the marine division. At TT Club his work focussed on the Middle East, Africa, Eastern Mediterranean and Turkey. Prior to that Julien spent six years as Business Development Director in Dubai for TT Club, with responsibilities for the Middle East, India and Africa. Over the past decade, Julien has cultivated significant relationships across the Middle East and the broader MENA region.  

This, combined with his abilities to solve issues for large clients, means that Julien is well-placed to take on this role at our firm. As ports and terminals operators pivot their business models into logistics, Julien brings a wealth of knowledge to support both existing and new clients in this increasingly complex area of transportation business. 

 Julien Hubbard, Partner and Head of Ports and Terminals at McGill and Partners said: “It is fantastic to welcome someone of Julien’s calibre to the team. His business development skills, whether it be nurturing current relationships or exploring new opportunities, will be a tremendous asset to the firm. However, Julien will also bring a new dynamic to the team and his skillset will undoubtedly enhance our ports and terminals offering.” 

The Facility has been established by our firm with extensive support from the Association of British Insurers (ABI) and also through working in partnership with the British Insurance Brokers’ Association (BIBA) which will ensure brokers are made aware of the Facility. It has two key intentions – to expand capacity for insurers already writing business for affected buildings and to encourage competition across the market so that more firms will provide cover. The ultimate solution remains the urgent need for works to take place to make buildings safe and resilient.  

The Facility is expected to run for three to five years whilst this happens. The first step will be for the participating insurers – Allianz, Aviva, Axa, RSA and Zurich – to enter higher-risk buildings they currently insure, and which are awaiting remediation works, into the Facility at the point of their annual renewal. These firms have continued to be active in the market and are the top five firms providing insurance cover for commercial and residential buildings.  

The Grenfell tragedy and Dame Judith Hackitt Review exposed significant construction and fire-risk issues related to these buildings. As a result, insurers have to consider the heightened risk of an entire building sadly being destroyed in the event of a fire and have had to limit the amount of cover they could provide because the risk is too high for one firm to cover on its own.  

Brokers, Freeholders and Managing Agents have instead had to source insurance cover from multiple firms, meaning that several insurers are involved in covering one building, creating a ‘layered’ effect and adding to the cost. It is these buildings which will likely benefit most from the Facility.  

Through a reinsurance panel led by Swiss Re, the Facility will enable insurers to expand the capacity they have for writing insurance for affected buildings and take on new business. Over the course of the following 12 months, the insurers will consider which additional buildings can be entered into the Facility as and when their insurance policies are due for renewal.  

We have long recognised the emotional and financial strain that is being placed on leaseholders in England, Wales and Northern Ireland and flat owners in Scotland, and we support the FCA’s rules on providing greater protection and transparency. While the launch of the Facility is an important milestone, we have always said that there will be no single insurance intervention that will help all leaseholders equally. It is the buildings that will see the costly ‘layered’ insurance replaced with cover through the Facility that will likely see the biggest impact on their premium. 

 For buildings where one insurer already provides 100% of the cover, they may not see an impact on their premium when entered into the Facility. In the longer term, it is hoped that the Facility will reinvigorate competition in the market and encourage other firms to write more business for affected buildings. There are options available to government that could have a more immediate impact for leaseholders. This includes providing financial support to the Facility which may increase market confidence and encourage even more firms to join, and cutting Insurance Premium Tax which would provide a 12% reduction in costs.  

Leaseholders should contact the person or company responsible for arranging their insurance cover, who can then discuss the Facility with their broker or insurer. More information on how the Facility will work is available here. Information for brokers representing the affected buildings is available from the British Insurance Brokers’ Association. Buildings insurance premiums will continue to be based on a variety of risk factors, such as the type and age of the building, previous claims history and other property risks such as storm/flooding or escape of water. External factors such as construction costs and supply shortages will also have an impact.  

Steve McGill CBE, Founder & CEO, McGill and Partners said: “Insuring cladded, multi-occupancy buildings that pose a fire safety risk has challenged our industry for some time. However, this unique facility aims to present a competitive market solution that will address this important issue and I am incredibly proud that McGill and Partners has played such a pivotal role. “Contributing to the expansion of insurance availability for buildings with combustible cladding and other fire safety issues has been a significant priority for us. We are known for our innovative thinking and thrive on creating solutions for complex and challenging risks, and it has been possible to develop this transformative and much needed facility with the support of our reinsurer and insurer partners.” 

 Mervyn Skeet, ABI Director of General Insurance said: “Supporting leaseholders and making insurance more widely available for higher-risk buildings with fire safety issues has been one of the ABI’s top priorities. I’m grateful to McGill and Partners and all the firms involved for their help in establishing this commercial intervention and hope it will encourage more insurers to enter the market and offer cover for these buildings. “The industry has been determined in its efforts to support leaseholders, but it cannot solve the issue alone. Establishing the Facility is a significant step forward, but Government intervention and swifter remediation is still the only long-term solution. We strongly encourage Government to consider how it can support the Facility to boost confidence in the market or remove Insurance Premium Tax for affected buildings, to offer more immediate relief to leaseholders.”  

Tim Bailey, President of the ABI, said: “The Fire Safety Reinsurance Facility has been a priority cross-industry project to expand capacity in the market and boost competition. We’re pleased to have made the Facility a reality in order to support leaseholders and as ABI President, I’m grateful to all those involved.” Aidan Kerr, UK&I Lead at Swiss Re Public Sector Solutions, said: “Swiss Re is delighted to be acting as lead reinsurer for this facility, which is a great demonstration of how the insurance industry can work together to help support leaseholders. This facility will help to improve availability of insurance for people living in affected buildings, whilst the vital remediation work to rectify their fire safety issues is completed.”  

Graeme Trudgill, Chief Executive at the British Insurance Brokers’ Association (Biba), said: “We are delighted with this new facility, which is the culmination of two years of constructive collaboration between BIBA, McGill and Partners, the ABI, expert real-estate brokers and Government. Launching the facility was a key BIBA commitment in our 2024 Manifesto and aims to create a more affordable insurance solution for medium and high-rise residential buildings that have fire safety issues. We hope that in the longer term this will have positive affect on leaseholders.” 

Reinsurance support is now in place to launch the Fire Safety Reinsurance Facility (the Facility) from 1 April 2024, in an industry intervention to help improve the availability of insurance for certain buildings with combustible cladding and other fire safety issues.  

The Facility has been established by insurance and reinsurance broker McGill and Partners with extensive support from the Association of British Insurers (ABI) and also through working in partnership with the British Insurance Brokers’ Association (BIBA) which will ensure brokers are made aware of the Facility. It has two key intentions – to expand capacity for insurers already writing business for affected buildings and to encourage competition across the market so that more firms will provide cover. The ultimate solution remains the urgent need for works to take place to make buildings safe and resilient.  

The Facility is expected to run for three to five years whilst this happens. The first step will be for the participating insurers – Allianz, Aviva, Axa, RSA and Zurich – to enter higher-risk buildings they currently insure, and which are awaiting remediation works, into the Facility at the point of their annual renewal. These firms have continued to be active in the market and are the top five firms providing insurance cover for commercial and residential buildings.  

The Grenfell tragedy and Dame Judith Hackitt Review exposed significant construction and fire-risk issues related to these buildings. As a result, insurers have to consider the heightened risk of an entire building sadly being destroyed in the event of a fire and have had to limit the amount of cover they could provide because the risk is too high for one firm to cover on its own.  

Brokers, Freeholders and Managing Agents have instead had to source insurance cover from multiple firms, meaning that several insurers are involved in covering one building, creating a ‘layered’ effect and adding to the cost. It is these buildings which will likely benefit most from the Facility.  

Through a reinsurance panel led by Swiss Re, the Facility will enable insurers to expand the capacity they have for writing insurance for affected buildings and take on new business. Over the course of the following 12 months, the insurers will consider which additional buildings can be entered into the Facility as and when their insurance policies are due for renewal.  

We have long recognised the emotional and financial strain that is being placed on leaseholders in England, Wales and Northern Ireland and flat owners in Scotland, and we support the FCA’s rules on providing greater protection and transparency. While the launch of the Facility is an important milestone, we have always said that there will be no single insurance intervention that will help all leaseholders equally. It is the buildings that will see the costly ‘layered’ insurance replaced with cover through the Facility that will likely see the biggest impact on their premium. 

 For buildings where one insurer already provides 100% of the cover, they may not see an impact on their premium when entered into the Facility. In the longer term, it is hoped that the Facility will reinvigorate competition in the market and encourage other firms to write more business for affected buildings. There are options available to government that could have a more immediate impact for leaseholders. This includes providing financial support to the Facility which may increase market confidence and encourage even more firms to join, and cutting Insurance Premium Tax which would provide a 12% reduction in costs.  

Leaseholders should contact the person or company responsible for arranging their insurance cover, who can then discuss the Facility with their broker or insurer. More information on how the Facility will work is available here. Information for brokers representing the affected buildings is available from the British Insurance Brokers’ Association. Buildings insurance premiums will continue to be based on a variety of risk factors, such as the type and age of the building, previous claims history and other property risks such as storm/flooding or escape of water. External factors such as construction costs and supply shortages will also have an impact.  

Steve McGill CBE, Founder & CEO, McGill and Partners said: “Insuring cladded, multi-occupancy buildings that pose a fire safety risk has challenged our industry for some time. However, this unique facility aims to present a competitive market solution that will address this important issue and I am incredibly proud that McGill and Partners has played such a pivotal role. “Contributing to the expansion of insurance availability for buildings with combustible cladding and other fire safety issues has been a significant priority for us. We are known for our innovative thinking and thrive on creating solutions for complex and challenging risks, and it has been possible to develop this transformative and much needed facility with the support of our reinsurer and insurer partners.” 

Mervyn Skeet, ABI Director of General Insurance said: “Supporting leaseholders and making insurance more widely available for higher-risk buildings with fire safety issues has been one of the ABI’s top priorities. I’m grateful to McGill and Partners and all the firms involved for their help in establishing this commercial intervention and hope it will encourage more insurers to enter the market and offer cover for these buildings. “The industry has been determined in its efforts to support leaseholders, but it cannot solve the issue alone. Establishing the Facility is a significant step forward, but Government intervention and swifter remediation is still the only long-term solution. We strongly encourage Government to consider how it can support the Facility to boost confidence in the market or remove Insurance Premium Tax for affected buildings, to offer more immediate relief to leaseholders.”  

Tim Bailey, President of the ABI, said: “The Fire Safety Reinsurance Facility has been a priority cross-industry project to expand capacity in the market and boost competition. We’re pleased to have made the Facility a reality in order to support leaseholders and as ABI President, I’m grateful to all those involved.” Aidan Kerr, UK&I Lead at Swiss Re Public Sector Solutions, said: “Swiss Re is delighted to be acting as lead reinsurer for this facility, which is a great demonstration of how the insurance industry can work together to help support leaseholders. This facility will help to improve availability of insurance for people living in affected buildings, whilst the vital remediation work to rectify their fire safety issues is completed.”  

Graeme Trudgill, Chief Executive at the British Insurance Brokers’ Association (Biba), said: “We are delighted with this new facility, which is the culmination of two years of constructive collaboration between BIBA, McGill and Partners, the ABI, expert real-estate brokers and Government. Launching the facility was a key BIBA commitment in our 2024 Manifesto and aims to create a more affordable insurance solution for medium and high-rise residential buildings that have fire safety issues. We hope that in the longer term this will have positive affect on leaseholders.” 

Reinsurance support is now in place to launch the Fire Safety Reinsurance Facility (the Facility) from 1 April 2024, in an industry intervention to help improve the availability of insurance for certain buildings with combustible cladding and other fire safety issues.  

The Facility has been established by insurance and reinsurance broker McGill and Partners with extensive support from the Association of British Insurers (ABI) and also through working in partnership with the British Insurance Brokers’ Association (BIBA) which will ensure brokers are made aware of the Facility. It has two key intentions – to expand capacity for insurers already writing business for affected buildings and to encourage competition across the market so that more firms will provide cover. The ultimate solution remains the urgent need for works to take place to make buildings safe and resilient.  

The Facility is expected to run for three to five years whilst this happens. The first step will be for the participating insurers – Allianz, Aviva, Axa, RSA and Zurich – to enter higher-risk buildings they currently insure, and which are awaiting remediation works, into the Facility at the point of their annual renewal. These firms have continued to be active in the market and are the top five firms providing insurance cover for commercial and residential buildings.  

The Grenfell tragedy and Dame Judith Hackitt Review exposed significant construction and fire-risk issues related to these buildings. As a result, insurers have to consider the heightened risk of an entire building sadly being destroyed in the event of a fire and have had to limit the amount of cover they could provide because the risk is too high for one firm to cover on its own.  

Brokers, Freeholders and Managing Agents have instead had to source insurance cover from multiple firms, meaning that several insurers are involved in covering one building, creating a ‘layered’ effect and adding to the cost. It is these buildings which will likely benefit most from the Facility.  

Through a reinsurance panel led by Swiss Re, the Facility will enable insurers to expand the capacity they have for writing insurance for affected buildings and take on new business. Over the course of the following 12 months, the insurers will consider which additional buildings can be entered into the Facility as and when their insurance policies are due for renewal.  

We have long recognised the emotional and financial strain that is being placed on leaseholders in England, Wales and Northern Ireland and flat owners in Scotland, and we support the FCA’s rules on providing greater protection and transparency. While the launch of the Facility is an important milestone, we have always said that there will be no single insurance intervention that will help all leaseholders equally. It is the buildings that will see the costly ‘layered’ insurance replaced with cover through the Facility that will likely see the biggest impact on their premium. 

For buildings where one insurer already provides 100% of the cover, they may not see an impact on their premium when entered into the Facility. In the longer term, it is hoped that the Facility will reinvigorate competition in the market and encourage other firms to write more business for affected buildings. There are options available to government that could have a more immediate impact for leaseholders. This includes providing financial support to the Facility which may increase market confidence and encourage even more firms to join, and cutting Insurance Premium Tax which would provide a 12% reduction in costs.  

Leaseholders should contact the person or company responsible for arranging their insurance cover, who can then discuss the Facility with their broker or insurer. More information on how the Facility will work is available here. Information for brokers representing the affected buildings is available from the British Insurance Brokers’ Association. Buildings insurance premiums will continue to be based on a variety of risk factors, such as the type and age of the building, previous claims history and other property risks such as storm/flooding or escape of water. External factors such as construction costs and supply shortages will also have an impact.  

Steve McGill CBE, Founder & CEO, McGill and Partners said: “Insuring cladded, multi-occupancy buildings that pose a fire safety risk has challenged our industry for some time. However, this unique facility aims to present a competitive market solution that will address this important issue and I am incredibly proud that McGill and Partners has played such a pivotal role. “Contributing to the expansion of insurance availability for buildings with combustible cladding and other fire safety issues has been a significant priority for us. We are known for our innovative thinking and thrive on creating solutions for complex and challenging risks, and it has been possible to develop this transformative and much needed facility with the support of our reinsurer and insurer partners.” 

Mervyn Skeet, ABI Director of General Insurance said: “Supporting leaseholders and making insurance more widely available for higher-risk buildings with fire safety issues has been one of the ABI’s top priorities. I’m grateful to McGill and Partners and all the firms involved for their help in establishing this commercial intervention and hope it will encourage more insurers to enter the market and offer cover for these buildings. “The industry has been determined in its efforts to support leaseholders, but it cannot solve the issue alone. Establishing the Facility is a significant step forward, but Government intervention and swifter remediation is still the only long-term solution. We strongly encourage Government to consider how it can support the Facility to boost confidence in the market or remove Insurance Premium Tax for affected buildings, to offer more immediate relief to leaseholders.”  

Tim Bailey, President of the ABI, said: “The Fire Safety Reinsurance Facility has been a priority cross-industry project to expand capacity in the market and boost competition. We’re pleased to have made the Facility a reality in order to support leaseholders and as ABI President, I’m grateful to all those involved.” Aidan Kerr, UK&I Lead at Swiss Re Public Sector Solutions, said: “Swiss Re is delighted to be acting as lead reinsurer for this facility, which is a great demonstration of how the insurance industry can work together to help support leaseholders. This facility will help to improve availability of insurance for people living in affected buildings, whilst the vital remediation work to rectify their fire safety issues is completed.”  

Graeme Trudgill, Chief Executive at the British Insurance Brokers’ Association (Biba), said: “We are delighted with this new facility, which is the culmination of two years of constructive collaboration between BIBA, McGill and Partners, the ABI, expert real-estate brokers and Government. Launching the facility was a key BIBA commitment in our 2024 Manifesto and aims to create a more affordable insurance solution for medium and high-rise residential buildings that have fire safety issues. We hope that in the longer term this will have positive affect on leaseholders.” 

We have launched SAIFElimits, a ready-made and self-contained coverage solution for corporate insolvency. The scheme is designed to be incorporated into any primary directors’ and officers’ (“D&O”) policy and is triggered automatically by an insolvency event.  

This extension allows protection to remain in place for directors and officers for up to six years during the insolvency process. The risk of looming insolvency, even for large companies, can emerge from a seemingly clear blue sky as experienced by the directors of Carillion, British Steel, Silicon Valley Bank, Greensill Capital and others. Corporate insolvency can create or expose significant D&O coverage issues including policy expiry (leading to the inability to notify claims), limit erosion and other defects and shortcomings in the protection available to directors and officers.  

D&O policies are typically purchased by a company on behalf of its directors and officers and are therefore structured on the basis that the company and the insurers are the principal contracting parties. This, together with the assumption that the company will not become insolvent, and that the policy will be renewed annually, can give rise to serious potential stumbling blocks unique to corporate insolvency confronting directors and officers when they seek access to policy proceeds.  

SAIFElimits combines a unique set of claims handling, control provisions, and extensions designed both to improve coverage and to facilitate the collection of insurance proceeds by directors and officers of insolvent companies. The endorsement operates as a self-contained suite of cover whilst maintaining more favourable provisions in the base form for the benefit of directors and officers.  

Karl Hennessy, Head of Specialty Broking at McGill and Partners said: “The launch of SAIFElimits addresses some of the widely recognised gaps and challenges that can occur as a consequence of a corporate insolvency. That we have been able to provide a solution further demonstrates not only the deep expertise and technical risk knowledge within the team, but the agility we have at McGill and Partners as a firm to respond with innovative, pro-active solutions for our clients.” 

We have signed a heads of agreement with M&G to move into a brand-new office space in the heart of the City and London’s insurance district. 40 Leadenhall London, when completed, will be an iconic building at the forefront of sustainable workplaces where every detail has been considered to enhance colleague experiences both professionally and personally. Specifically, it will contain a state-of-the-art fitness studio, retailers, public restaurants, a wellness suite, commuter facilities and bike spaces. In very close proximity to Lloyd’s and the London market, the office is convenient for clients, colleagues, and carrier partners.  

We will sign a 16-year lease on 43,000 sq ft of office space that represents a more than 50% increase in our current footprint, reinforcing our firm’s ambitions for long-term growth and underpinned by the acquisition of further talent. The move is expected to take place by September 2024, subject to contract.  

Steve McGill, Chief Executive Officer at McGill and Partners said: “The move to 40 Leadenhall is hugely exciting for our firm. The new building is exceptional, and it will be a great place for our colleagues to work and will help support our significant growth plans going forward. Our people are our greatest asset, and we believe it is important that we provide them with world class facilities that enhances our industry leading colleague value proposition and drives teamwork and productivity as we look to deliver exceptional services to our clients.”

We are delighted to collaborate with Renew Risk, a leading risk analytics SaaS provider for renewable energy assets, to develop catastrophe models for offshore wind portfolios.  

The announcement comes as the demand for in depth catastrophe modelling increases in response to offshore wind projects venturing further into high-risk areas. Robust models will help the market better understand and quantify the risk, determine appropriate (re)insurance limits and understand aggregation across multiple windfarms in one region.  

This will lead to increased insurance capacity available for the benefit of the developer, enabling (re)insurers to offer more competitive and sustainable products, and reduce their own capital requirements and volatility. Renew Risk, through the implementation of deep data science-driven patent protected methodologies and leveraging the extensive insight from our team, built an initial five models in the Oasis framework, an opensource Cat model platform, covering Northeast US hurricane, Taiwan earthquake and typhoon and Japan earthquake and typhoon. These cutting-edge models will assist in providing us with a fuller understanding of the natural peril risks, determining appropriate insurance limits, and grasp of risk aggregation across multiple windfarms in one region.  

Traditionally, the catastrophe risk to offshore windfarms has been quantified with general rules of thumb for different regions, or by modelling the risks as onshore. To date, there are no commercially available models for offshore windfarms in the areas of interest where many offshore assets are increasingly being built, frequently in areas that are highly exposed to natural catastrophe perils. 

We commissioned the project with Renew Risk, working closely with the firm to develop the models and are the first in the market to license the models. 

 Tom Sexton, Partner and Head of Renewables, Power and Energy at McGill and Partners said: “There has been a pressing need for a custom-built offshore wind catastrophe model to accurately assess the probability of loss for this rapidly developing asset class in high-risk zones. These models will assist both offshore wind clients and insurers to access more efficient risk transfer capital. They will enable insurers and reinsurers to price coverage more accurately, understand asset class aggregations, and assess offshore wind’s impact on other lines of business – previously inaccessible insights. This will give insurers and reinsurers the confidence to provide greater capacity at more appropriate pricing levels to our offshore wind clients in high catastrophe zones.” Dr  

Catherine Tillyard, Partner in Treaty Reinsurance at McGill and Partners added: “McGill and Partners is also part of the Sustainable Markets Initiative, something we’re immensely proud of and that shapes how we look to develop our business. Without sufficient insurance, offshore developers are unable to access credit for these large-scale projects. These catastrophe models provide all parties with a more accurate assessment of the risk, enabling such projects to become a reality – crucial if we are to transition to renewable energy sources.”  

Ashima Gupta, Chief Executive Officer at Renew Risk, said: “Offshore wind plays a pivotal role in the transition to a renewable energy economy. But as the industry witnesses a surge in new projects located in regions susceptible to natural disasters, it is important to have robust risk models which will allow (re)insurers to appropriately assess the risk of these billion-dollar assets constructed in the deep sea. With our state-of-the-art data science-driven risk models, we can enable our clients to thoroughly assess the intricate risks associated with natural disasters, thereby instilling the confidence needed to furnish these projects with precisely tailored insurance coverage. By offering this robust risk management solution, we are actively contributing to the progress towards a greener and more sustainable energy landscape.”  

Dr Joshua Macabuag, Chief Product Officer at Renew Risk, said: “Renew Risk brings the best in Engineering and risk modelling to provide risk analytics designed and built specifically for renewable energy. McGill and Partners have been the ideal collaborators, resulting in the world’s first commercially-available catastrophe models built from the ground up specifically for offshore windfarms. We look forward to continued collaborations to provide leading risk analytics for renewables, and accelerate the transition to a renewable energy economy.” 

We have expanded our reinsurance offering with office openings in Hannover, Germany and Zurich, Switzerland, further strengthening and supporting our strategy to develop specialist reinsurance broking capabilities to match our European clients’ needs.  

These new offices will focus on facultative reinsurance and, as with all teams at our firm, they have deep expertise to tackle a broad range of reinsurance solutions.  

Paul Summers, Partner and Head of Facultative Reinsurance, said, “These new offices are an exciting development for McGill and Partners as a whole, but especially for the facultative reinsurance team. By opening offices in Zurich and Hannover, we will be closer to the capital providers and to our reinsurance clients in the region, ensuring we are able to be nimble and create solutions and service propositions for whatever circumstance clients require.”  

McGill and Partners’ German team will be led by Ulrich Moeller, who has over 30 years of experience, has worked for Guy Carpenter, Aon, Junge and Hannover Re. Nicklas Heger will also be part of the team and was previously at Guy Carpenter designing and placing high-profile European reinsurance risks. The team in Zurich includes Antonio Simone, who joins from Guy Carpenter having previously spent 24 years at Swiss Re; Vito Modugno, who has also worked for Guy Carpenter and Swiss Re, and Arjan Tichelaar who also joins from Guy Carpenter having previously been at Aon.  

Steve McGill, Founder and CEO of McGill and Partners, said: “We are excited to be expanding our European reinsurance offering and increasing our presence in the reinsurance market on the continent of Europe. We have become known for our talent acquisition strategy and as we build these teams, we will continue to carefully handpick the right colleagues. The German and Swiss teams are led by local industry experts with decades of knowledge and experience to support our European reinsurance growth strategy. I’m excited to see what success we can achieve in the coming months and years.”  

McGill and Partners now has a presence in the UK, US, Bermuda, Australia, Ireland, Germany and Switzerland. The new offices build on the success of our current platform and come after three years of strong international growth for the firm, including significant talent acquisition. 

We are delighted to announce several important leadership appointments within our US operations. Karl Hennessy, who currently leads the Global Specialty Insurance teams in London, will be appointed CEO of McGill Global Risk Solutions LLC, the US insurance and reinsurance business, and will move to New York from London, subject to visa approvals.  

He will be supported by John Judice, who is appointed President of the US business with immediate effect and will be responsible for driving sales and business development activity across our specialty insurance platform.  

Warren Mula will remain Chairman of the US business. Nirali Shah has been appointed Head of US D&O and to further support Business Development activity in the US, Daisy Jackson has been appointed Partner, Business Development, and will move to New York from London, subject to visa approvals.  

Alyssa Gerardi is appointed as Steve McGill’s Chief of Staff and has moved from New York to London. As Karl transitions to the US, his previous responsibilities will be taken over by our Chairman, John Lloyd.  

We are proud to work closely with many leading high-quality retail and/or wholesale brokerage firms and/or (re)insurers as well as global clients and their captives to deliver superior solutions and services to this segment.  

Specifically, the focus of the firm is on the design structuring and placement of world class (re)insurance solutions, particularly for larger or more complex clients.  

Steve McGill, CEO of McGill and Partners, said: “Since we launched four years ago, we have developed a value proposition and business model that is highly differentiated, enabling us to deliver industry leading organic revenue growth. The US is the most important (re)insurance market in the world and these leadership changes are designed to reinforce our commitment to the US market, for the benefit of all our trading partners and clients.” 

We are pleased to announce we will continue to sponsor the Kings Cross Steelers and ELRFC Vixens, the world’s first gay-inclusive rugby union club, for another two years. Our firm first began backing the club two years ago, during which time both teams have seen numerous successes.  

Gus Fraser, newly elected Chair of the Kings Cross Steelers said: “As a player and club captain I have seen first-hand the impact our partnership has had on the ability of the club to deliver on the pitch. Ensuring we have professional coaching, physio, and equipment support, in a long league and competition year, has led to the results we have seen. Now as Chair of the club, having the partnership of McGill and Partners in our shared campaign for inclusion in business, sport, and society is invaluable and I look forward to what we can achieve next.”  

Stephen Cross, Group COO, and Head of Strategy & Innovation at McGill and Partners said: “Team spirit is at the heart of McGill and Partners. We strongly advocate for a fully inclusive workplace which is why the partnership with the Kings Cross Steelers and Vixens was a great fit for us. We’re able to cross business with sport and share mutual values regarding the greater need for diversity and inclusion in sport and more broadly. I’m so impressed with the success of all the teams at Kings Cross Steelers and I have no doubt the success with continue into the next season.”  

A full list of the winning matches is below: – 

• London Pride 7s 2021 and also placing in the Top 4 in 2022  

• Bingham Cup & Hoagland Cup Ottawa 2022  

• Union Cup & Union Plate Birmingham 2023 

In addition, the teams have taken part in the following LGBTQI+ inclusive tournaments:  

• 1st XV – Counties 2 Essex Level 8 RFU League finishing 3rd in the league.  

• 2nd & 3rd XV – Essex Merit Table levels 4 & 5 respectively  

• 4th XV – IGR (International Gay Rugby) Southern Development League. 

East London RFC Vixens also competed in the Women’s NC1 East League finishing mid-table. 

We are pleased to share we have expanded our structured solutions team with the hire of new partner Dan Cordina. His appointment supports the continued build-out of our growing structured solutions practice, providing bespoke reinsurance solutions to clients’ most pressing capital and earnings requirements.  

Dan brings with him extensive experience in the European (re)insurance transactions and restructuring space, gained during more than a decade at a Big 4 accountancy firm. During his career he has successfully executed various economic and legal finality solutions, including traditional legacy reinsurance deals, as well as the sale of a specialist legacy carrier to Private Equity, and several Part VII Transfers. 

 Dan is a qualified Chartered Accountant, a member of the Insolvency Practitioners’ Association and the Joint Insolvency Examination Board. At our firm, Dan will be leading retrospective reinsurance and legacy transactions for risks attaching to old underwriting years, providing capital relief and financial certainty for our clients. He will report to Andy Hill and joins on 1st January 2023.  

Andy Hill, Partner in Structured Solutions at McGill and Partners said: “Dan is another strong hire as we continue grow the Structured Solutions team at McGill and Partners. He has extensive experience in the legacy space and is well known and well regarded as a highly skilled and effective operator. I’m excited to welcome him to the team and for what the year has ahead.”