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.
Cyber insurance and natural disasters fuel growth in Asia-Pacific’s insurance sector: Gallagher Re
31st October 2024
With the Asia-Pacific region’s contribution to global GDP increasing, it is positioned to play a vital role in driving growth within the global insurance industry, according to the latest APAC Market Report from Gallagher Re, a reinsurance broker. This report provides insights into the diverse insurance landscapes across the Asia-Pacific, where ... Read the full article
Gallagher Re and ARC unveil parametric reinsurance product for drought in the Sahel
30th October 2024
Gallagher Re and African Risk Capacity Ltd (ARC Ltd) have developed a new parametric reinsurance product for the UN World Food Programme (WFP) aimed at providing timely financial responses to populations affected by drought and food insecurity in the Sahel region. Quantifying the impact of climate and weather on crops and ... Read the full article
Cyber insurers could cut loss ratios by 16% by excluding high-risk entities: Gallagher Re
22nd October 2024
A recent study by Gallagher Re, a global reinsurance broker, analysed Bitsight's security performance data from 62,000 organisations across 67 countries, along with Gallagher Re's proprietary data on cybersecurity incidents and claims. The research revealed that poor performance in specific areas increased the likelihood of a cybersecurity incident and subsequent claim, ... Read the full article
Gallagher Re names Lara Mowery as Chief Commercial Officer
22nd October 2024
Global reinsurance broker Gallagher Re has appointed Lara Mowery as Chief Commercial Officer, where she will reportedly oversee the firm's strategic direction and enhance the delivery of product and practice group capabilities. Mowery is an industry veteran with over 30 years of experience in reinsurance. She joins Gallagher Re from Guy ... Read the full article
Gallagher Re hires new Head of Agriculture EMEA & Parametric Sales International
17th October 2024
Global reinsurance broker Gallagher Re has announced the appointment of Abdessamad El Angoudi as Head of Agriculture EMEA and Senior Parametrics Sales for International. In his new role, El Angoudi will collaborate closely with Shilpa Pankaj, International Head of Agriculture at Gallagher Re, and Antoine Bavandi, the firm’s Global Head of ... Read the full article
Insured nat cat losses reach $108bn in first 9 months of 2024: Gallagher Re
16th October 2024
In the first 9 months of 2024, losses covered by the private insurance market or public insurance entities totalled at least $108 billion, 5% higher than the decadal average of $102 billion, driven by a higher frequency of low/mid-size events, especially in parts of the world with higher coverage, a ... Read the full article
Gallagher Re names Sanjeeb Kumar and Addise Li to key L&H reinsurance roles
15th October 2024
Global reinsurance broker Gallagher Re has announced two key appointments to its Life & Health (L&H) Reinsurance team. Sanjeeb Kumar joins as Chairman of Life & Health Reinsurance, India, where he will play a pivotal role in driving the growth of the L&H reinsurance business in the region. Kumar previously served as ... Read the full article
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
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
