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.
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
UAE floods drive challenging and late mid-year renewals in the Middle East: Gallagher Re
4th July 2024
While most property reinsurance placements were completed either early or on time, renewals in the Middle East were challenging and late, says reinsurance broker Gallagher Re. According to Gallagher Re's recent mid-year renewals report, this was mainly due to uncertainty around loss estimates for the recent floods in the United Arab ... Read the full article
Reinsurers maintain healthy appetite & stable capacity for US Casualty at July 1: Gallagher Re
3rd July 2024
A new report from Gallagher Re has observed that reinsurers overall maintained a healthy appetite and stable capacity for US Casualty lines at the July 1 renewals. Commenting on the US general third party liability segment of the casualty insurance space, Gallagher Re noted that loss trends remain elevated, and as ... Read the full article
Gallagher Re finds Florida risk-adjusted rates flat to down 10% at mid-year renewals
1st July 2024
As per Gallagher Re's latest mid-year renewals report, market softening in Florida levelled off and firmed as capacity became less abundant closer to June 1, ultimately leaving risk-adjusted rates on most programs either flat or down by as much as 10%. The report found that programs which were completed in early ... Read the full article
Reinsurance market now balanced, sellers holding the line on retentions: Vickers, Gallagher Re
1st July 2024
The reinsurance market was fairly stable heading into the July 1st, 2024, renewals, and is now more balanced than it was a year ago, although reinsurers are holding the line on retentions, according to James Vickers, Chairman, Gallagher Re International. Reinsurance News spoke with Vickers around the launch of reinsurance broker ... Read the full article
Reinsurers’ ‘risk on’ approach benefits property cat buyers in 2024: Gallagher Re
1st July 2024
As per a new report from Gallagher Re, buyers of property catastrophe reinsurance have been able to negotiate better terms and conditions on their contracts in 2024 due to the "risk on" approach taken by reinsurers. The reinsurance broker explained that this has resulted in improved pricing, with risk-adjusted catastrophe placements ... Read the full article
Gallagher Re appoints Richard Rudden as Head of Green Solutions
28th June 2024
Reinsurance broker Gallagher Re has announced the appointment of Richard Rudden to the newly created role of Head of Green Solutions. This position aims to develop insurance and reinsurance solutions to support clients in their energy transition efforts. Reporting directly to Nick Croxford, Head of Marine, Energy & Aviation at Gallagher Re, ... Read the full article
2024 already a top-4 year for US SCS insured losses: Bowen, Gallagher Re
27th June 2024
2024 has already ranked among the top four costliest years on record for insurance industry losses due to severe convective storms in the US, with insured losses from the peril already exceeding $31 billion, according to Steve Bowen, Chief Science Officer at reinsurance broker Gallagher Re. In a recent LinkedIn post, ... Read the full article
Gallagher Re expects low-teens organic growth in Q2 amid sustained reinsurer discipline
26th June 2024
Speaking with analysts at KBW, Gallagher President, Thomas J. Gallagher, has anticipated low-teens reinsurance organic growth in Q2 of 2024, including sustained reinsurer discipline with property pricing slightly down but with rising aggregate demand heading into a potentially active hurricane season. In discussions between analysts at KBW and Gallagher executives at ... Read the full article
This time the hard reinsurance market really is different: Shea, Gallagher Re
26th June 2024
In hard reinsurance markets of the past, a key feature has been an influx of capital from new entrants, but there's been a notable lack of start-ups during the current period of reinsurance market tightening, and there are some good reasons why this time really is different, according to Brian ... Read the full article
Gallagher Re launches Cyber Academy to attract and develop talent
24th June 2024
Global reinsurance broker, Gallagher Re, has launched its flagship Cyber Academy, designed to attract and nurture promising individuals in the cyber space, providing them with comprehensive and bespoke training in broking, analytics, and cyber security. The Gallagher Re Cyber Academy will offer delegates the opportunity to receive best-in-class training while gaining ... 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.
