Reinsurance News
Gallagher Re
Economic pressures drive widespread rate increases at 1/7: Gallagher Re’s Vickers
1st July 2022
The pressures of inflation and rising interest rates caused reinsurers to remain cautious at the July renewals, which resulted in much less available capacity for buyers and higher prices across the board. This is according to James Vickers, Chairman International, Reinsurance, at Gallagher Re, who spoke to Reinsurance News about July ... Read the full article
Sellers market persists as attachment levels & costs rise at July renewals: Gallagher Re
1st July 2022
Almost all buyers of protection were able to secure their reinsurance coverage at a July 1st, 2022, renewals shaped by economic factors which helped to sustain market hardening, according to Gallagher Re's 1st View report. After a late and tough June 1st reinsurance renewals, all eyes turned to the later mid-year ... Read the full article
Gallagher Re recruits climate resilience leader from World Bank
27th June 2022
Reinsurance broker Gallagher Re has recruited Antoine Bavandi to lead a newly established Public Sector & Climate Resilience Solutions global practice. As Global Head of Public Sector, Parametric & Climate Resilience Solutions, he will manage the practice as it looks to advise both public and private sector institutions. Bavandi most recently served ... Read the full article
Re/insurers positioned to be “driving force” in climate fight: Gallagher Re
24th June 2022
Analysts at Gallagher Re have argued that the insurance and reinsurance industry is well-placed to act as “the driving force behind societal resilience in the face of growing climate risks.” Writing in a blog for the reinsurance broking firm, Divisional Director for Climate & ESG Marie Ekström and Climate Risk Analyst ... Read the full article
Gallagher Re names Head of Belgium branch
23rd June 2022
Philippe De Longueville is set to join reinsurance broker Gallagher Re’s EMEA West South team as Head of the company’s Belgium branch. Gallagher Re posted a tweeted earlier today confirming the appointment. The tweet said: “Delighted to announce that Philippe De Longueville will join our EMEA West South team as Head of ... Read the full article
Gallagher Re makes six hires in Asia-Pacific region
6th June 2022
Reinsurance broker Gallagher Re has hired six senior executives to augment its businesses in the Asia-Pacific region. The firm said that it had hired Yuan Tian as its new strategic and financial analytics lead for the region; Roshan Perera as executive director of the regional development team; and Cliff Downing as ... Read the full article
Reinsurance premium growth at 11%, but clouds on horizon: Gallagher Re
31st May 2022
Gallagher Re is reporting that premium growth among the reinsurers it tracks remained strong in Q1 2022, reaching 11%. The firm said that this result had been achieved partly through continued favourable pricing for commercial lines and reinsurance business. Strongest premium growth, the company said, came from the global reinsurers, along ... Read the full article
Firm order terms for TWIA’s 2022 reinsurance renewal suggests ROL of 6.75%
18th May 2022
The Texas Windstorm Insurance Association (TWIA) looks set to pay more for its larger 2022 traditional reinsurance program, with firm-order-terms (FOT) for the renewal pointing to a rate-on-line (ROL) of 6.75%, according to its broker Gallagher Re. Yesterday, the board of the Texas insurer of last resort heard from representatives of ... Read the full article
Gallagher Re suggests reinsurance adjustments to mitigate inflation pressure
13th May 2022
Analysts at Gallagher Re have suggested a number of changes to the way that insurers utilise reinsurance protection in order to better account for and mitigate the growing challenge of inflation. In a new report, the broker notes that the debate around inflation has moved on from whether it will spike ... Read the full article
Insurtech investment broke records in 2021 – Gallagher Re
4th May 2022
Global investment in insurtech breached $15.8bn in 2021, according to Gallagher Re’s Global Insurtech Report. The figure, said Gallagher Re, was the highest on record and more than 2019 and 2020 combined. The firm said that over the course of 2021, some $9.4bn was invested into Property & Casualty InsurTechs, with the ... Read the full article
Gallagher Re names new Executive Director, France Benelux Life & Health
14th April 2022
Reinsurance broker Gallagher Re has appointed Arnaud Mézière as Executive Director, France Benelux Life & Health. Mézière joins Gallagher Re from Reinsurance Group of America, where he worked in the French region as a Business Development specialist. Prior to that position, he worked as NEEM Strategy Analyst at BNP Paribas Cardif, and ... Read the full article
Cat bond issue in Q1 2022 continued 2021 boon: Gallagher Re
11th April 2022
Cat bond issue in Q1 2022 was a continuation of the boon year that was 2021, according to Gallagher Re’s latest 1st View. This was, said the firm, seen in both terms of deal count and the total volume of issuance. These numbers reflect the latest data from our insurance-linked securities ... Read the full article
Russia – Ukraine war creates renewed uncertainty for aviation market: Gallagher Re
8th April 2022
As Russia's unprovoked invasion of Ukraine continues, hopes of a global aviation insurance market recovery have faded somewhat, with the 2022 renewals set to present "another complex engagement," according to re/insurance broker Gallagher. After two years of pandemic-related stress and multi-billion dollar industry losses, the start of this year suggested a ... Read the full article
Pricing pressure faded at nuanced Japan renewals: Gallagher Re
8th April 2022
Analysts at Gallagher Re have reported that continued reinsurer pricing pressure faded during the course of the April 1 renewals in Japan, which was characterised by an “orderly” process with nuanced pricing dynamics. For property catastrophe excess of loss business in Japan, Gallagher Re reported that a limited amount of new ... Read the full article
Reinsurance dedicated capital grows 8.4% to $728bn: Gallagher Re
7th April 2022
New data from broker Gallagher Re shows that global reinsurance dedicated capital totalled $728 billion at the end of 2021, representing growth of 8.4% over the previous year. Capital had ended the previous year at $672 billion, according to the latest reinsurance market report by Gallagher Re. Since 2015, total reinsurance dedicated ... Read the full article