Reinsurance News
Gallagher Re
Increased pressure from reinsurers to place cyber separately at renewals: Gallagher Re
6th July 2023
According to Gallagher Re's 1st View report, cyber insurance carriers continued to explore standalone cyber placements at the mid-year renewals in response to increasing pressure from reinsurers. Gallagher's report also noted that incumbent reinsurance markets continued to grow following improved rate and portfolio optimisation across cyber insurance risk, building on the ... Read the full article
Aviation reinsurance market faces challenges and uncertainty: Gallagher Re
5th July 2023
The aviation reinsurance market continues to grapple with challenges and uncertainty, according to global reinsurance broker Gallagher Re's latest report on the aviation insurance market. While there are some signs of improvement in aviation retro capacity levels, the overall landscape "remains fragile". Pricing in the aviation reinsurance market has been hardening as ... Read the full article
Stability prevails in intl. liability and professional lines renewals: Gallagher Re
5th July 2023
In the realm of international liability and professional lines, the recent renewals unfolded with relative calm, indicating stability in the market, according to Gallagher Re's 1st View renewals report on International Casualty. The majority of renewals were concentrated in Australia and New Zealand, with only a few in Europe. This commentary ... Read the full article
Mid-year retrocession renewals reflect orderly market conditions: Gallagher Re
4th July 2023
In the global non-marine retrocession market, mid-year renewals have exhibited a greater sense of orderliness compared to the dislocation witnessed during January 1, according to Gallagher Re's 1st View renewals report. Market participants benefited from increased clarity on business plans, improved inwards rating environment, and a better understanding of market requirements. These ... Read the full article
Property cat loss hit rates in Florida up 30-40% in mid-year renewal: Gallagher Re
3rd July 2023
Global reinsurance broker Gallagher Re released its latest 1st View renewals report, which highlights the trends and dynamics at the July 1 reinsurance renewals. Within the report, the broker highlighted the United States property market at the renewals. One notable figure was that catastrophe loss hit business in Florida increased 30-40%, ... Read the full article
Expectations “much better managed” at July renewals: Gallagher Re’s Vickers
3rd July 2023
Gallagher Re's James Vickers, Chairman International, has asserted that the July renewals were “much better managed” and “stable”, as the pricing and structural market dynamics that defined 1.1 continued, with mid-year placements catching up and aligning with prevailing market undercurrents. Speaking to Reinsurance News alongside the release of Gallagher Re’s ... Read the full article
Continued pricing and structural dynamics at July reinsurance renewals: Gallagher Re
3rd July 2023
Gallagher Re, the global reinsurance broker, has released its latest 1st View renewals report, highlighting the trends and dynamics at the July 1 reinsurance renewals, which indicates a continuation of pricing and structural dynamics similar to those observed during the January 1 and April 1 renewal periods. Despite significant year-on-year increases, ... Read the full article
US Severe Convective Storm insured losses $25bn+ YTD: Gallagher Re
23rd June 2023
Steve Bowen, Chief Science Officer at reinsurance broker Gallagher Re, has suggested the total cost to the insurance industry from outbreaks of Severe Convective Storms (SCS) has likely surpassed $25 billion year-to-date. Earlier this year, Gallagher Re released a report noting that Q1 saw more than $10 billion of convective ... Read the full article
Consistently high ROEs needed to attract fresh reinsurance capital: Lot, Swiss Re
16th June 2023
A positive track record of a high return on equity (ROE) is needed to attract fresh capital to the reinsurance industry, despite the substantially higher pricing seen throughout the year, according to Gianfranco Lot, Chief Underwriting Officer (CUO) of P&C Re at global reinsurance giant Swiss Re. Pricing in the reinsurance ... Read the full article
Gallagher Re welcomes Mathilde Le Merle as Executive Director
9th June 2023
Global reinsurance broker Gallagher Re has announced the appointment of two new Executive Directors, Mathilde Le Merle and Juan Manuel Fernandez Romo. Based in Paris, France, Le Merle joins the company with more than 20 years’ legal experience in the reinsurance and the broking industry, both in direct insurance and reinsurance. She ... Read the full article
California wildfires reshape re/insurance industry strategies and dynamics: Gallagher Re
9th June 2023
The devastating wildfires that have plagued California in recent years have become a focal point for insurers and reinsurers, forcing them to reassess their approaches to underwriting and pricing, according to Gallagher Re - 2023 US Wildfire State of the Market report. The size and frequency of these destructive events, coupled ... Read the full article
Swiss Re’s Daniel Knüsli joins Gallagher Re S&FA team
8th June 2023
Global reinsurance broker Gallagher Re has added Daniel Knüsli to its Strategic & Financial Advisory (S&FA) team. He will be based in Zurich but will have a global role, according to the announcement. Knüsli will split his time between London and other international insurance hubs as needed by clients. Bringing more than ... Read the full article
Gallagher Re’s Tsimaratos takes on Products & Practices, Spenner to lead EMEA
6th June 2023
Gallagher Re has announced changes in two leadership positions within its International division as part of the reinsurance broking group's overall evolution and positioning for growth. As of this month, Alkis Tsimaratos, who remains as Managing Director, is taking up a newly created role as leader of Gallagher Re’s Products and ... Read the full article
Gallagher Re Brazil appoints new CEO, Treaty Operations
2nd June 2023
Global reinsurance broker Gallagher Re has announced the appointment of Daniel Veiga as CEO of Gallagher Re Brazil, Treaty Operation, effective immediately. Veiga will be based in Rio de Janeiro and work closely connected to São Paulo. Veiga’s appointment is part of Gallagher Re Brazil’s growth plans and strategic investment in ... Read the full article
Gallagher Re names Linda Johnson as Vice Chairperson for North America
1st June 2023
Global reinsurance broker Gallagher Re appointed Linda Johnson as Vice Chairperson for its North American team, effective immediately. In her new role, Johnson will be responsible for generating new business opportunities for large casualty and structured reinsurance solutions across North America, with a particular focus on the regions of New York ... Read the full article
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