Reinsurance News
Gallagher Re
Gallagher Re is the reinsurance broking arm of the Gallagher group, providing reinsurance related intermediary services to insurers, reinsurers and clients.
Read all of our Gallagher Re reinsurance news below.
Broker pre-landfall loss forecasts ranged from 15bn to 40bn
10th October 2024
In their pre-landfall loss forecasts for Hurricane Milton, Steve Bowen, Chief Science Officer at reinsurance broker Gallagher Re, said private insurance market losses ranging from $30 billion to $40 billion could be expected, while BMS Group’s Senior Meteorologist Andrew Siffert noted that a $15 billion or greater event is possible. Both ... Read the full article
Beazley, Munich Re, and Gallagher Re study reveals cyber market resilience
9th October 2024
Findings from a year-long collaboration between Beazley, Munich Re, and Gallagher Re indicate that the cyber insurance market can withstand a plausible yet remote malware event under current parameters. This information was released in a whitepaper that aimed at building a shared understanding of the potential systemic losses the cyber-insurance industry ... Read the full article
Expect private insurance market losses from Helene in the mid-to-high single-digit billions: Bowen, Gallagher Re
30th September 2024
Following hurricane Helene's landfall last week as a Cat 4 storm on the Big Bend area of Florida, Steve Bowen, Chief Science Officer at reinsurance broker Gallagher Re, has said that economic losses will be well above $10 billion and that the impact to the private insurance market is expected ... Read the full article
Goldman Sachs analysts suggest Generali could make reinsurance recovery on Storm Boris impacts
20th September 2024
With Generali’s European flood per event reinsurance coverage kicking in after a €300 million attachment, the insurer could make a reinsurance recovery on Storm Boris as analysts at Goldman Sachs forecast losses for the firm to be between €300 and €425 million. Storm Boris impacted Central Eastern European (CEE) countries, as ... Read the full article
Growth could be challenged when current pricing momentum starts to moderate: Thompson, Gallagher Re
19th September 2024
Growth was a key topic for re/insurers at RVS 2024, Will Thompson, Global Head of Clients of Gallagher Re, commented, but this could be challenged when the current strong pricing momentum begins to moderate. Speaking with Reinsurance News at the annual meeting of the reinsurance industry in Monte Carlo, Thompson said: ... Read the full article
Central Europe floods could cost up to $3.3bn in insured losses: Gallagher Re
18th September 2024
Global reinsurance broker Gallagher Re estimates that the insured losses from the severe floods in central Europe, which occurred mainly from September 12-15, are likely to range between EUR 2.0 to 3.0 billion (USD 2.2 to 3.3 billion). A slow-moving low-pressure system caused continuous rainfall across central Europe, leading to severe ... Read the full article
Ranked by 2023 revenue, Aon is still the world’s largest reinsurance broker
8th September 2024
Based on fully-year 2023 revenues, Aon Reinsurance Solutions, the reinsurance broking arm of the global intermediary, remains the world's top reinsurance broker, although Guy Carpenter, the reinsurance arm of Marsh McLennan, has narrowed the gap at the top. Our ranking of the top global reinsurance brokers in ... Read the full article
Global reinsurance capital hits $766bn in H1 2024: Gallagher Re
5th September 2024
A new Gallagher Re report that tracks the capital and profitability of the global reinsurance industry has revealed that total capital continued to climb during H1 of 2024, reaching $766 billion, up 5.4% from 2023. At the same time, the reinsurance broker's report found that the underlying ROE of 15.5% in ... Read the full article
Lara Mowery to join Gallagher Re from Guy Carpenter
15th August 2024
Global reinsurance broker Gallagher Re has confirmed that Guy Carpenter's Global Head of Distribution, Lara Mowery, is joining the firm in a senior role. Mowery joined Guy Carpenter, the reinsurance broking arm of Marsh McLennan, in 1997 to lead the firm's global property reinsurance business. Most recently, she worked as Guy Carpenter's ... Read the full article
Hurricane Debby’s wind & flood losses to be manageable at $1-2bn: Gallagher Re
9th August 2024
As per a new report from Gallagher Re, Hurricane Debby will remain a "very manageable" event for the re/insurance industry, with combined wind and water-related insured losses from the private insurance market and National Flood Insurance Program (NFIP) likely to fall in the range of $1-2 billion. Debby first made landfall ... Read the full article
Insurtech funding shifts to $1.27bn in Q2, highest level since Q1’23: Gallagher Re
1st August 2024
The global Insurtech sector witnessed a significant rise in funding throughout the second quarter of 2024, amounting to US $1.27 billion, marking the highest levels of funding seen since the first quarter of 2023, according to latest findings unveiled by reinsurer Gallagher Re. Q2 2024 saw AI-centred Insurtechs obtain a grand ... Read the full article
New leader appointed for Prague reinsurance operation by Gallagher Re and Renomia
29th July 2024
Jan Hrevus has been named to lead the joint reinsurance initiatives of Gallagher Re, a reinsurance broker, and Renomia, an insurance brokerage in Central and Eastern Europe, in the Czech Republic and across Central & Eastern Europe (CEE). Formerly with VIG Re Prague for a decade, Hrevus most recently served as ... Read the full article
19 individual billion-dollar insured cat loss events in H1’24: Gallagher Re
19th July 2024
According to reinsurance broker Gallagher Re, there were at least 19 individual billion-dollar insured natural catastrophe loss events in the first half of 2024, making it the second-highest H1 total on record, behind the 20 events seen in 2023 and 2022. Of the 19 events, 12 resulted in a multi-billion dollar ... Read the full article
US SCS activity drives $61bn insured nat cat total for H1’24: Gallagher Re
17th July 2024
Global insurance and reinsurance industry losses from natural catastrophes in the first half of 2024 reached at least $61 billion, coming in 25% higher than the first half decadal average on the back of the second costliest H1 on record for the US severe convective storm (SCS) peril, according to ... Read the full article
Hurricane Beryl losses to be very manageable for the re/insurance industry: Bowen, Gallagher Re
9th July 2024
Despite the possibility of hurricane Beryl being a billion-dollar economic loss for the United States, it is expected to be a very manageable storm for the re/insurance industry, Steve Bowen, Chief Science Officer at Gallagher Re has commented. Bowen has shared some thoughts on the potential loss impacts from Beryl in ... Read the full article
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