Reinsurance News
Gallagher Re
Gallagher Re appoints Gammoh as Head of Capital Advisory & Modelling
23rd January 2023
Global reinsurance broker Gallagher Re has appointed Shireen Gammoh as Global Head of Capital Advisory & Modelling. Based in London, Gammoh joined Gallagher Re in 2021. In her most recent role at the firm, she served as Head of Strategic & Financial Advisory. Overall, she brings nearly 20 years of experience towards ... Read the full article
Cyber loss picks stable at Jan 1 despite rate hardening: Gallagher Re
9th January 2023
Reinsurers aggregate excess of loss/stop loss cyber loss picks remained stable at 1/1, global reinsurance broker Gallagher Re revealed in its 1st View Report. Sharing its comments on the global cyber market at the January 1, 2023 reinsurance renewals, the broker said that despite significant rate hardening in underlying portfolios, "market ... Read the full article
Renewals a success despite “disappointing” lateness: Gallagher Re’s Vickers
6th January 2023
The recent January 1 reinsurance renewals ultimately succeeded in meeting demand for coverage despite changes in pricing and structures, and with negotiations running down to the wire, Gallagher Re’s James Vickers has maintained. Gallagher Re’s 1st View report described 1/1 as “complex and in many cases frustrating” for both buyers and ... Read the full article
Retro capacity “materially constrained” at Jan 1, says Gallagher Re
6th January 2023
Non-marine retrocession capacity was "materially constrained" at the January 1st, 2023, reinsurance renewals, with widespread pressures on attachment levels as sellers' concerns around inflation and frequency of losses contributed to a challenging environment, according to Gallagher Re. The retro market has been constrained for some time, and reinsurance broker Gallagher Re's ... Read the full article
Neema appoints Gallagher Re as reinsurance broker
6th January 2023
African specialist underwriting agency, Neema Insurance Managing Agency has appointed Gallagher Re as the firms reinsurance broker, following the completion of a partnership between the two companies. David Blain from Gallagher Re, commented: ‘’Gallagher Re are delighted to be appointed the broker of choice for Neema’s reinsurance requirements. The partnership brings together ... Read the full article
Lasse Otzen joins Gallagher Re’s Nordic operations
5th January 2023
Global reinsurance broker Gallagher Re has appointed Lasse Flensborg Otzen to its Copenhagen operation as Divisional Director. He is an experienced account executive with over ten years of experience across diverse disciplines in the reinsurance and insurance industry, including risk management, underwriting and claims handling, as well as client service. Otzen joins ... Read the full article
Renewals mark return to reinsurers driving primary behaviour: Gallagher Re’s Vickers
4th January 2023
The recent January 1 renewals period marked a return to a historical market dynamic in which reinsurers are the drivers of behaviour in the primary markets, James Vickers of Gallagher Re has asserted. Speaking to Reinsurance News alongside the release of Gallagher Re’s 1st View report, Vickers explained that reinsurers “are ... Read the full article
Gallagher Re warns of damaged relationships following renewals
4th January 2023
Analysts at Gallagher Re have warned that many of the hard-fought positive outcomes for reinsurers at the recent January 1st renewals may have come at the expense of damaged client relationships. In its 1st View January reinsurance renewals report, the broker noted that the recent 1/1 period was “very tense” with ... Read the full article
Cat loss-hit property treaties in the U.S. see rate rises of +100% at 1/1: Gallagher Re
3rd January 2023
Analysis by reinsurance broker Gallagher Re reveals that some catastrophe loss-hit treaties in the U.S. witnessed rate increases of more than 100% at the January 1st, 2023, reinsurance renewals, as Hurricane Ian, other catastrophe and risk losses, inflation, and rising interest rates drove disruption in the market. Gallagher Re's 1st ... Read the full article
Gallagher Re outlines “complex” and “frustrating” Jan renewals
3rd January 2023
Gallagher Re has described the January 1st reinsurance renewals as “complex and in many cases frustrating” as tense negotiations ran “down to the wire” and reinsurers restricted capacity and pushed for tough terms and pricing. The broker’s 1st View January reinsurance renewals report notes that the two areas of most constraint ... Read the full article
Florida market policyholders surplus sees 23.5% deterioration in Q3: Gallagher Re
22nd December 2022
According to Gallagher Re's Q3 Florida Market Watch report, the state's personal property carriers are facing further turmoil this year, with policyholders surplus (PHS) down 23.5% from $12.0Bn to $9.2Bn across the group. Gallagher Re writes that all subgroups have had PHS decreases ranging from 23.5%-32.5% year-to-date, aside from the Florida ... Read the full article
Gallagher Re announces two new appointment to Netherlands office
21st December 2022
Global reinsurance broker Gallagher Re, is strengthening its Netherlands team with the appointments of Bob Reichenfeld as Managing Director of the Netherlands, and Jord Westerloo as Divisional Director, with effect from January 2, 2023. As Head of the Dutch office, Reichenfeld will succeed Chairman Gerrit Van Emst who is preparing to ... Read the full article
KBW sees solid growth prospects for Gallagher Re
16th December 2022
Analysts at KBW are forecasting “solid growth prospects” for reinsurance broking unit Gallagher Re over the next two years, following comments at Arthur J. Gallagher’s recent investor day. It’s thought that Gallagher Re could be set to “go on to strong offense” in 2023 as reinsurance rates rise, especially for property ... Read the full article
Gallagher Re suggests TWIA commences reinsurance renewal as soon as possible
13th December 2022
In light of the hardening reinsurance market environment, insurance and reinsurance broker Gallagher has called on the Texas Windstorm Insurance Association (TWIA) to begin its reinsurance planning and buying as soon as possible. TWIA's Board meeting is scheduled for today, during which management will discuss the company's 2023 reinsurance programme amid ... Read the full article
Gallagher Re adds EVP Scott Fest from FedNat
1st December 2022
Gallagher Re, the global reinsurance broking and advisory firm, has added Scott Fest as an Executive Vice President (EVP) to its team in Tampa, Florida. The role will see him focus predominantly on SE property carriers, with additional expertise in Workers Comp and Auto carriers, Gallagher Re said. Fest joins the broker ... Read the full article
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