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.
Annual insured nat cat losses of ~$150bn becoming the ‘new normal’: Gallagher Re
21st January 2025
With the annual average loss from natural catastrophes between 2017 and 2024 costing insurers $146 billion, Gallagher Re has suggested the 'new normal' for annual insured losses is approaching $150 billion. As per the broker's new Natural Catastrophe and Climate Report, the estimated total direct economic costs from global natural perils ... Read the full article
Munich Re’s Lüers joins Gallagher Re’s Global Credit, Surety, and Political Risk practice group
21st January 2025
Reinsurance broker Gallagher Re has announced the appointment of Karsten Lüers to its Munich office as Regional Director – Credit, Surety and Political Risk. Lüers is joining the company from Munich Re, where he served as Senior Underwriter for over two decades. “Karsten brings over 23 years of experience in the Credit, ... Read the full article
Aviation reinsurance market in good health but losses continue to weigh on sector: Gallagher
20th January 2025
Richard Sammons, Head of Aerospace at Gallagher Re, highlights that while the aviation reinsurance market appears to be in good health, the balance is far from a buyer’s market. Gallagher Re, a reinsurance broker specialising in risk management solutions, recently published Gallagher Specialty’s Plane Talking report - reinsurance, which provides an ... Read the full article
LA wildfire insured losses estimated between $20–$30bn: Gallagher Re
17th January 2025
Gallagher Re has revised its insured loss estimates for the Southern California wildfires to a range of $20 billion to $30 billion, with the portion anticipated to be ceded to reinsurance potentially reaching the mid-to-high single-digit billions. Although the Palisades and Eaton wildfires in Los Angeles are now expected to rank ... Read the full article
Cat bond demand extremely strong, collateralised reinsurance returning: Gallagher Securities
16th January 2025
For various buyers of protection, the insurance-linked securities (ILS) market remains an integral part of their overall reinsurance purchasing decision, and demand for the catastrophe bond product was extremely strong in 2024, while demand for collateralised reinsurance is also returning, according to Gallagher Securities, the insurance-linked securities (ILS) and capital ... Read the full article
Gallagher Re appoints Mathieu Loisel as Lead for Casualty & Motor, EMEA
15th January 2025
Reinsurance broker Gallagher Re has announced the appointment of Mathieu Loisel as Lead for Casualty & Motor for EMEA and Coordinator for the International Casualty Practice Group (ICPG). Based in Switzerland, Loisel will focus on strengthening Gallagher Re’s International Casualty and Motor treaty reinsurance capabilities, collaborating with teams across the region. Loisel ... Read the full article
Retrospective market stabilises in H2’24, strong activity seen in North America: Gallagher Re
14th January 2025
The retrospective market displayed signs of stabilisation in the second half of 2024, after the previous 18 months featured a contraction of counterparties offering cover, as well as increase in execution risk, amid material prior year adverse development across certain lines and jurisdictions, according to reinsurance broker Gallagher Re. As per ... Read the full article
Ben Wathen promoted to Chief Claims Officer for Gallagher Re
13th January 2025
Reinsurance broker Gallagher Re has announced Ben Wathen has been promoted to lead its Global Claims Advocacy team as Chief Claims Officer. Wathen brings to his new role over two decades of claims expertise, a client-focused approach, and a diverse background spanning underwriting, claims, and broking. The executive has been part of ... Read the full article
Insured LA wildfire losses ‘to notably’ exceed $10bn: Gallagher Re
13th January 2025
Steve Bowen, Chief Science Officer at reinsurance broker Gallagher Re, states that the wildfires in Los Angeles County, particularly the Palisades Fire and Eaton Fire, are projected to become some of the most expensive in history, with total aggregated insured losses expected "to notably" exceed the $10 billion mark. The extent ... Read the full article
Efficient reinsurance structures key for 1.1 cyber renewals: Gallagher Re
6th January 2025
As per Gallagher Re's 1st View report, the cyber renewals at 1.1 2025 focused on securing the most efficient reinsurance structures amid "extremely healthy" levels of capacity from reinsurers and an improved understanding of tail risk from buyers. The cyber section of the reinsurance broker's report highlighted heightened competition for both ... Read the full article
CEE cat loss-free property reinsurance treaties renew -2.5% to +5% at 1.1: Gallagher Re
3rd January 2025
According to reinsurance broker Gallagher Re, Central and Eastern Europe (CEE) catastrophe loss-free property reinsurance treaties were renewed -2.5% to up 5%, while catastrophe loss-hit reinsurance rates increased 10% to 20% at the January 1, 2025 renewals. Focusing on property cat excess of loss, the CEE region was heavily loss impacted ... Read the full article
Reinsurers see opportunities amid market moderation: Gallagher Re CEO
3rd January 2025
Reinsurers view the current market as an attractive space, even after some moderation in terms and conditions. However, they face ongoing pressure to deliver strong results amid a renewal season marked by variability and diverse outcomes, according to Tom Wakefield, Chief Executive Officer (CEO) of Gallagher Re, the reinsurance arm ... Read the full article
Property renewals largely orderly, rate reductions ‘entirely rational’ says Gallagher Re
2nd January 2025
Global property reinsurance renewals were largely orderly at the January 1st, 2025, renewals, and although reduced risk adjusted pricing was greater than many sellers planned for, is "entirely rational and expected" given plentiful capacity and robust results for 2024, according to Gallagher Re. The reinsurance broker has published its 1st View ... Read the full article
Nagpal to lead Gallagher Re’s Analytics team in APAC, Murch named Deputy Head
17th December 2024
Reinsurance broker Gallagher Re has announced some leadership changes within its Analytics team in Asia Pacific, appointing Hemant Nagpal as Head of Analytics and Darren Murch as Deputy Head of Analytics. Nagpal joined Gallagher Re from Moody's RMS in 2021 as Head of Catastrophe Analytics. Prior to his five year tenure ... Read the full article
Critical role of risk financing and insurance in disaster response: Bavandi, Gallagher Re
13th December 2024
Antoine Bavandi, Global Head of Public Sector, Parametric & Climate Resilience Solutions at Gallagher Re highlighted the growing recognition of disaster risk financing and insurance in disaster response during his summary of key takeaways from COP 29 in Baku. He noted that effective private-sector strategies include risk pooling, public-private partnerships, parametric ... Read the full article
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