Reinsurance News
Gallagher Re
Gallagher Re appoints Hiscox’s Louise Marling as UK COO
30th April 2024
Louise Marling has been named as the successor to Gina Butterworth and will take over as reinsurance broker Gallagher Re's UK Chief Operating Officer (COO), subject to regulatory approvals. It was announced yesterday that Butterworth has been promoted to Global Transformation Director at Gallagher Re. She will be replaced by Marling, ... Read the full article
Gallagher Re promotes Gina Butterworth to Global Transformation Director
29th April 2024
Reinsurance broker Gallagher Re has announced the promotion of Gina Butterworth to the position of Global Transformation Director. With nearly three decades of experience in the industry, Butterworth is a seasoned senior executive known for her strong leadership and management skills. Her extensive background makes her well-equipped to excel in her ... Read the full article
Loss underestimation a pressing issue, warns Gallagher Re
19th April 2024
Gallagher Re's Q1'24 Natural Catastrophe and Climate Report underscores the critical need for the insurance industry to evaluate unexpected factors that extend event loss behaviour, while also addressing the growing challenge of social inflation. The report identifies event loss underestimation as the most pressing issue, with complexities in loss development varying ... Read the full article
US convective storm activity drives global Q1 insured losses of $20bn: Gallagher Re
17th April 2024
Gallagher Re has estimated that global insured losses from natural catastrophes in Q1 of 2024 were $20 billion, heavily driven by severe convective storm (SCS) activity in the US. According to the global reinsurance broker's Natural Catastrophe & Climate Report, from which all this information was derived, insured losses in Q1 ... Read the full article
All subgroups in Gallagher Re’s Florida market report see DPW growth in 2023
11th April 2024
As per Gallagher Re’s Florida Market Watch Report for 2023, all subgroups of selected insurance companies that derive a majority of their premiums from the state's personal property market witnessed growth in direct premium written (DPW) in the year compared to 2022. Gallagher Re has revealed that the ANTS subgroup, consisting ... Read the full article
Reserve releases benefited reinsurer CoRs by 1.8% in 2023: Gallagher Re
9th April 2024
Analysis by reinsurance brokerage Gallagher Re finds that, on average, reserve releases benefited reinsurance company combined ratios by 1.8% in 2023, a small increase on 2022’s 1.4%, which is far lower than 2014-2018 levels. The contribution of reserve releases to the combined ratio has fluctuated around the 2% mark since 2019, ... Read the full article
Global reinsurance industry capital hits $729bn in 2023: Gallagher Re
8th April 2024
The dedicated capital of the global reinsurance industry increased 12% year-on-year to $729 billion in 2023, driven by improved profitability in the year, according to Gallagher Re’s latest Reinsurance Market Report. This marks the highest level since the reinsurance broker began conducting its analysis of the size and performance of the ... Read the full article
Reinsurers’ ROEs now comfortably exceed the industry’s cost of capital: Gallagher Re
8th April 2024
As per Gallagher Re’s biannual Reinsurance Market Report, the global reinsurance industry's underlying ROE was above the cost of capital for the second consecutive year in 2023, improving to 14.3% from 12% in 2022, mainly due to lower combined ratios and higher running investment income. Gallagher Re’s analysis, which for 2023 ... Read the full article
Some reinsurers pulled back, others more positive on Japan casualty business at 1/4: Gallagher Re
5th April 2024
The outcome of the Japan casualty reinsurance renewals at April 1st were predominantly stable or favourable, with some sellers pulling back from certain lines as others adopted a more positive approach, according to Gallagher Re. In Gallagher Re’s latest report, the reinsurance broker emphasises that the focus during the April renewals ... Read the full article
Japan property cat demand marginally down at April 1 reinsurance renewals: Gallagher Re
5th April 2024
Japan property catastrophe demand was marginally down year-on-year at the April 1st, 2024, reinsurance renewals, while some increases in retentions were offset by a small amount of additional capacity purchased, reports Gallagher Re. In the reinsurance broker's 1st View Report, the firm highlights how there was a "significant uptick in ... Read the full article
Reinsurers are clear about their own retro structures and capacity: Gallagher Re’s Vickers
3rd April 2024
Reflecting on the April 1 reinsurance renewals, James Vickers, Gallagher Re's Chairman of International, says that reinsurers were looking "to grow their portfolios and therefore were relatively accommodating within the confines of their own underwriting discipline." Speaking to Reinsurance News alongside the release of Gallagher Re's 1st View Report, Vickers ... Read the full article
Increased demand, more capacity available at April 1 reinsurance renewals: Gallagher Re
2nd April 2024
Reinsurers continued to take on more property catastrophe risk at the April 1st, 2024, reinsurance renewals, which led to an increase in available capacity to meet growing demand in an overall more stable environment, according to Gallagher Re. Reinsurance broker Gallagher Re's latest 1st View renewal report, which covers the Japan-focused ... Read the full article
Gallagher Re names Flasinski CEO of NA region, Bradshaw assumes Chairman role
18th March 2024
Reinsurance broker Gallagher Re has appointed Brian Flasinski as Chief Executive Officer of the North American region, succeeding Jim Bradshaw who is set to assume the role of Chairman, Gallagher Re North America. According to the firm, both appointments will become effective after a transition period later this year. Flasinski joined Gallagher ... Read the full article
Gallagher Re appoints Head of Asia Pacific Cyber
18th March 2024
Reinsurance broker Gallagher Re has announced the appointment of Sie Liang Lau as Head of Asia Pacific Cyber, a Singapore-based role. Lau is a UK qualified Actuary with over two decades of experience in the re/insurance industry. He joined Gallagher Re in May 2023 as Head of Analytics, Rest of Asia. Previously, ... Read the full article
Gallagher Re names André Gerling Head of Region for DACH
6th March 2024
Reinsurance broker Gallagher Re has announced the promotion of André Gerling to Head of Region for DACH, Netherlands and Central and Eastern Europe. He will take up this new position in June 1, 2024, when the current DACH leader, Hamish Dowlen, formally moves into the role of Managing Director of ... Read the full article