Reinsurance News
Gallagher Re
Cyber market still hardening as underwriting view shifts: analysts
18th January 2022
Analysts at some of the top re/insurance brokers have noted that the cyber reinsurance market is continuing to see hardening rates following another challenging year for losses in this sector. Gallagher Re classified the primary cyber markets as “truly hard” at recent renewals, but said there is still room for reinsurance ... Read the full article
Gallagher Re adds Andrew Geldart to Australia & NZ team
11th January 2022
Global reinsurance broker Gallagher Re has announced the addition of Andrew Geldart to its Australia and New Zealand team as Executive Director Broking. Based in Sydney, Geldart joins the business with effect from December 2021. He arrives from Vero Insurance, where he has spent the previous 16 years, most recently as Senior ... Read the full article
Gallagher Re reports constrained capacity in global non-marine retro
10th January 2022
Global reinsurance broker Gallagher Re has reported constrained capacity in global non-marine retrocession as traditional reinsurers have restricted their requirements for capital deployment, with the ILS market showing significant outflows and limited inflows. The broker noted that aggregate capacity was in shorter supply than in previous years, with providers wary of ... Read the full article
Lloyd’s & London Market see stable conditions at 1/1: Gallagher Re
6th January 2022
Analysts at Gallagher Re have reported that Lloyd’s and the London Market experienced more stable conditions than were seen last year during the January 1, 2022 renewals, despite being generally quite late to market. In its 1st View report on the critical renewal period, Gallagher Re observed “mixed outcomes” for ... Read the full article
Some European cat rates rose by over 50%: Gallagher
5th January 2022
Analysts at reinsurance broker Gallagher Re have reported that reinsurance pricing increased by over 50% for some European catastrophe business at the January 1 renewals. In its 1st View report on the critical renewal period, Gallagher Re observed “mixed outcomes” for both reinsurers and cedants, as a push for improved ... Read the full article
Reinsurer appetite “undiminished” at 1/1: Gallagher Re’s James Vickers
4th January 2022
James Vickers, Chairman International, Reinsurance, at Gallagher Re, has maintained that reinsurers’ appetite to write what they perceive to be attractive business has proved to be “absolutely undiminished” following the January 1st renewals this year. Gallagher Re’s 1st View report noted that the 1/1 reinsurance renewals concluded with a “wide ... Read the full article
Mixed outcomes for reinsurers at “challenging” Jan 1 renewals: Gallagher Re
4th January 2022
Analysts at Gallagher Re have reported that the January 1 reinsurance renewals concluded with a “wide range of outcomes” as a push for improved pricing resulted in a tense round of negotiations. The broker noted that most reinsurers were determined to seek further price increases at 1/1 after hopes of a ... Read the full article
Gallagher Re set to win TWIA account
7th December 2021
The Actuarial & Underwriting Committee of the Texas Windstorm Insurance Association (TWIA) has voted to recommend that the Association's Board of Directors select Willis Re (now Gallagher Re) for reinsurance broker services. We wrote in November that TWIA was considering changing its reinsurance broker from Guy Carpenter, with the committee ... Read the full article
Gallagher Re feels like a billion dollar startup with a tremendous opportunity: James Kent & Pat Gallagher
1st December 2021
With Arthur J. Gallagher’s (AJG) acquisition of Willis Re’s treaty reinsurance operations now complete, resulting in a much larger Gallagher Re, senior executives told Reinsurance News that it feels like day one at a billion dollar startup. In the past seven years, Gallagher Re has established itself as the fifth largest ... Read the full article
UK competition authority clears Gallagher acquisition of Willis Re
22nd November 2021
The UK’s Competition and Markets Authority (CMA) said this morning that it has ended its investigation into and cleared Arthur J. Gallagher & Co's (Gallagher) planned acquisition of the Willis Re treaty reinsurance business. The investigation has been ended as the CMA has decided now further action is required and said ... Read the full article
Gallagher Re hires Aon’s Theo Norris as a dedicated cyber ILS broker
12th November 2021
Global reinsurance broker Gallagher Re has announced the addition of Theo Norris to its cyber reinsurance team as a dedicated cyber insurance-linked securities (ILS) broker, as the company continues to bolster its capabilities in the cyber risk space. In his new role, Norris is tasked with building and leading the development ... Read the full article
Gallagher Re launches next-gen reinsurance analytics platform GAIA
14th September 2021
Global reinsurance broker Gallagher Re has announced the launch of its holistic, next-generation reinsurance analytics platform called Gallagher Automated Insurance Analytics (GAIA), designed to deliver deeper and faster client insights. According to Gallagher Re, GAIA provides clients with a single, scalable analytics ecosystem which incorporates structured data, automated workflows, and on-the-fly ... Read the full article
Tom Wakefield leaves Aon to become CEO of Gallagher Re
7th June 2021
Tom Wakefield, previously of Aon, has been announced as the new Chief Executive Officer (CEO) of Gallagher Re, the reinsurance arm of the global brokerage, subject to regulatory approval. Wakefield takes over as CEO of the reinsurance broker from Simon Behagg, who will transition to the role of Managing Director of ... Read the full article
Re/insurance industry execs support sale of Willis Towers Watson assets: KBW
20th May 2021
Florida and Bermuda insurance and reinsurance industry executives recently expressed "widespread support" for the sale of Willis Re and certain other Willis Towers Watson (WTW) assets to Arthur J. Gallagher (Gallagher), according to analysts at KBW. It was announced last week that Gallagher had agreed a $3.57 billion deal to ... Read the full article
Willis Re’s data & analytics capabilities take Gallagher to ‘another level’, says CEO
13th May 2021
Arthur J. Gallagher's (Gallagher) agreement to acquire the majority of reinsurance broker Willis Re will take the company's data and analytics capabilities to new heights, according to J. Patrick Gallagher, Jr., Chairman, President and Chief Executive Officer (CEO). Alongside other Willis Towers Watson (WTW) assets, Gallagher is poised to purchase ... Read the full article