Reinsurance News

Gallagher Re

Insurtech funding slumps by 57% in Q4: Gallagher Re

2nd February 2023

New data from reinsurance broker Gallagher Re shows that global insurtech investment declined by 57.0% to $1.01 billion in the fourth quarter of 2022, when compared with the previous quarter. According to the broker’s Global InsurTech Report, this means that insurtech funding is at its lowest quarterly point since Q1 2020. The ... Read the full article

Global insured losses from natural catastrophes in 2022 seen at $140bn by Gallagher Re

30th January 2023

For the fifth year since 2017, insurance and reinsurance industry losses from natural catastrophe events exceeded the $100 billion threshold in 2022 at a huge $140 billion, reports reinsurance broker Gallagher Re. The broker's 2022 Natural Catastrophe report, published today, notes another year of complex natural disaster events in 2022, which ... Read the full article

Gallagher Re appoints Gammoh as Head of Capital Advisory & Modelling

23rd January 2023

Global reinsurance broker Gallagher Re has appointed Shireen Gammoh as Global Head of Capital Advisory & Modelling. Based in London, Gammoh joined Gallagher Re in 2021. In her most recent role at the firm, she served as Head of Strategic & Financial Advisory. Overall, she brings nearly 20 years of experience towards ... Read the full article

Cyber loss picks stable at Jan 1 despite rate hardening: Gallagher Re

9th January 2023

Reinsurers aggregate excess of loss/stop loss cyber loss picks remained stable at 1/1, global reinsurance broker Gallagher Re revealed in its 1st View Report. Sharing its comments on the global cyber market at the January 1, 2023 reinsurance renewals, the broker said that despite significant rate hardening in underlying portfolios, "market ... Read the full article

Renewals a success despite “disappointing” lateness: Gallagher Re’s Vickers

6th January 2023

The recent January 1 reinsurance renewals ultimately succeeded in meeting demand for coverage despite changes in pricing and structures, and with negotiations running down to the wire, Gallagher Re’s James Vickers has maintained. Gallagher Re’s 1st View report described 1/1 as “complex and in many cases frustrating” for both buyers and ... Read the full article

Retro capacity “materially constrained” at Jan 1, says Gallagher Re

6th January 2023

Non-marine retrocession capacity was "materially constrained" at the January 1st, 2023, reinsurance renewals, with widespread pressures on attachment levels as sellers' concerns around inflation and frequency of losses contributed to a challenging environment, according to Gallagher Re. The retro market has been constrained for some time, and reinsurance broker Gallagher Re's ... Read the full article

Neema appoints Gallagher Re as reinsurance broker

6th January 2023

African specialist underwriting agency, Neema Insurance Managing Agency has appointed Gallagher Re as the firms reinsurance broker, following the completion of a partnership between the two companies. David Blain from Gallagher Re, commented: ‘’Gallagher Re are delighted to be appointed the broker of choice for Neema’s reinsurance requirements. The partnership brings together ... Read the full article

Lasse Otzen joins Gallagher Re’s Nordic operations

5th January 2023

Global reinsurance broker Gallagher Re has appointed Lasse Flensborg Otzen to its Copenhagen operation as Divisional Director. He is an experienced account executive with over ten years of experience across diverse disciplines in the reinsurance and insurance industry, including risk management, underwriting and claims handling, as well as client service. Otzen joins ... Read the full article

Renewals mark return to reinsurers driving primary behaviour: Gallagher Re’s Vickers

4th January 2023

The recent January 1 renewals period marked a return to a historical market dynamic in which reinsurers are the drivers of behaviour in the primary markets, James Vickers of Gallagher Re has asserted. Speaking to Reinsurance News alongside the release of Gallagher Re’s 1st View report, Vickers explained that reinsurers “are ... Read the full article

Gallagher Re warns of damaged relationships following renewals

4th January 2023

Analysts at Gallagher Re have warned that many of the hard-fought positive outcomes for reinsurers at the recent January 1st renewals may have come at the expense of damaged client relationships. In its 1st View January reinsurance renewals report, the broker noted that the recent 1/1 period was “very tense” with ... Read the full article

Cat loss-hit property treaties in the U.S. see rate rises of +100% at 1/1: Gallagher Re

3rd January 2023

Analysis by reinsurance broker Gallagher Re reveals that some catastrophe loss-hit treaties in the U.S. witnessed rate increases of more than 100% at the January 1st, 2023, reinsurance renewals, as Hurricane Ian, other catastrophe and risk losses, inflation, and rising interest rates drove disruption in the market. Gallagher Re's 1st ... Read the full article

Gallagher Re outlines “complex” and “frustrating” Jan renewals

3rd January 2023

Gallagher Re has described the January 1st reinsurance renewals as “complex and in many cases frustrating” as tense negotiations ran “down to the wire” and reinsurers restricted capacity and pushed for tough terms and pricing. The broker’s 1st View January reinsurance renewals report notes that the two areas of most constraint ... Read the full article

Florida market policyholders surplus sees 23.5% deterioration in Q3: Gallagher Re

22nd December 2022

According to Gallagher Re's Q3 Florida Market Watch report, the state's personal property carriers are facing further turmoil this year, with policyholders surplus (PHS) down 23.5% from $12.0Bn to $9.2Bn across the group. Gallagher Re writes that all subgroups have had PHS decreases ranging from 23.5%-32.5% year-to-date, aside from the Florida ... Read the full article

Gallagher Re announces two new appointment to Netherlands office

21st December 2022

Global reinsurance broker Gallagher Re, is strengthening its Netherlands team with the appointments of Bob Reichenfeld as Managing Director of the Netherlands, and Jord Westerloo as Divisional Director, with effect from January 2, 2023. As Head of the Dutch office, Reichenfeld will succeed Chairman Gerrit Van Emst who is preparing to ... Read the full article

KBW sees solid growth prospects for Gallagher Re

16th December 2022

Analysts at KBW are forecasting “solid growth prospects” for reinsurance broking unit Gallagher Re over the next two years, following comments at Arthur J. Gallagher’s recent investor day. It’s thought that Gallagher Re could be set to “go on to strong offense” in 2023 as reinsurance rates rise, especially for property ... Read the full article