Gallagher Re

Gallagher Re estimates Q1 insured losses at $20bn

Gallagher Re has estimated Q1 insured natural catastrophe losses at $20bn in what it described as a “manageable start to the year” for the sector.

Gallagher Re: Floridians’ collective CR down 37 points to 97% in 2023

As Florida’s primary personal propertyinsurers gear up for their mid-year reinsurance renewals, new data compiled by Gallagher Re shows that carriers in the Sunshine State ended 2023 with a collective combined ratio that improved by 37.2 points to 96.7 percent.

Gallagher Re: NA MGA market premium grows 24% to $88bn in 2023

Premium volume in North America’s MGA market increased 24 percent to $88bn in 2023, but the growth means greater focus is now needed on the counterparty credit risk associated with the program carriers that support the sector, according to Gallagher Re.

Reinsurers’ underlying ROE above cost of capital as market grows to $729bn

Dedicated global reinsurance capital increased 12 percent year on year to $729bn in 2023, driven by strong improvements in profitability, according to Gallagher Re’s latest Reinsurance Market Report.

Gallagher Re: Reinsurers differentiate US casualty cedants as underlying challenges persist

The mounting pressures in the underlying US casualty and financial lines markets are leading to reinsurers being increasingly selective about their allocation of capacity to cedants as they look closely at strategies being deployed by insurers in response to the challenges, according to Gallagher Re.

Gallagher Re: Japanese cat renewals see flat to modest reductions as reinsurer appetite builds

Buyers achieved flat to modest risk-adjusted rate reductions at the 1 April Japanese property cat renewals, with some reinsurers left disappointed with signings as reinsurer appetite outstripped demand, according to Gallagher Re’s 1st View report.

Alliant adds Marsh’s Files as SVP within Americas division

Alliant Insurance Services has appointed April Files as senior vice president/risk management consultant within the company’s Americas division.

Gallagher Re names Lau Asia Pacific cyber head

Gallagher Re has appointed Sie Liang Lau as Asia Pacific head of cyber.

Gallagher Re names Flasinski NA CEO with presidents also added in major reshuffle

Gallagher Re has opted to promote internally to establish a new leadership team for its North American operations with Brian Flasinski named CEO for the region, succeeding Jim Bradshaw, who assumes the role of chairman of the platform in a move first revealed by this publication.

Gallagher Re’s Johnston expects insurtech investment to go back up in ‘24

The insurtech space is in a “very mature and very healthy position” and investment levels will increase in 2024 following a large drop last year, with investors now having a better understanding and mega-rounds returning, according to Gallagher Re’s Andrew Johnston.

Gallagher Re names Ward head of production for NA programs

Gallagher Re has promoted Justin Ward to head of production for North America programs business with immediate effect.

Gallagher Re continues reshuffle with Dowlen named EMEA managing director

Gallagher Re has appointed Hamish Dowlen as managing director for Europe, the Middle East and Africa, effective from 1 June.

Gallagher Re NA chair Wafer to retire as Bradshaw steps in

Gallagher Re is executing succession plans for its North America management team, with regional CEO Jim Bradshaw set to add the chair role and incumbent Tom Wafer on course to retire later this year, The Insurer can reveal.

Munich Re most active CVC insurtech investor in 2023, Plug and Play most active VC

Munich Re was the most active corporate insurtech investor last year amid a record number of investments in the sector by (re)insurers, while Plug and Play was the most active venture capital investor, according to figures from Gallagher Re.

Gallagher Re: Global insurtech funding drops 43.7% in 2023 to $4.5bn

Global insurtech funding dropped 43.7 percent to $4.5bn in 2023, the lowest level since 2018, according to a new report from Gallagher Re, although the year saw a record number of investments by (re)insurers.

Gallagher Re names Spenner international CEO as Melia retires

Gallagher Re has appointed Dirk Spenner as CEO of international, taking over from long-serving Tony Melia, who is set to retire later this year.

Gallagher Re, RPS both post 12% organic growth in Q4 with UK specialty up 16%

Gallagher Re and wholesale intermediary Risk Placement Services (RPS) both grew organic revenues by 12 percent in the fourth quarter, while the firm’s UK Specialty segment grew organic revenues by 16 percent, Pat Gallagher disclosed Thursday.

Gallagher Re estimates 2023 nat cat protection gap at $234bn

Reinsurance broker Gallagher Re has estimated that 66 percent of global economic impacts from natural catastrophes were uninsured during 2023, indicating a protection gap of $234bn.

Gallagher Re adds to A&H platform with MGB Re deal

Gallagher Re has strengthened its capabilities in the accident and health reinsurance space after acquiring Toronto-based MGB Re.

Swiss Re purchases inaugural $50mn cyber retro ILW

Swiss Re has secured $50mn of catastrophic US cyber insurance event protection in what Gallagher Re described as the cyber market’s first retrocession industry loss warranty.

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