Reinsurance News
Gallagher Re
Supply/demand dynamic remains “delicately poised”: Gallagher Re
3rd April 2023
Analysts at Gallagher Re have warned that the overall reinsurance supply/demand dynamic remains “delicately poised,” as sufficient capital was available to meet client needs during the April renewals, but could prove more constrained in other markets going forward. Writing in Gallagher Re’s 1st View report on the 1/4 renewal, Global CEO ... Read the full article
Reinsurers maintain discipline at challenging April renewal: Gallagher Re
3rd April 2023
The April 1 reinsurance renewals saw a continuation of trends from the earlier January period this year, with reinsurers broadly maintaining discipline and driving up rates across all geographies, Gallagher Re reports. The broker’s 1st View report notes that the 1/4 renewal proved “challenging” for reinsurance buyers, who were unable to ... Read the full article
Reinsurers’ combined ratios remained strong in 2022 but investment losses went up: Gallagher Re
23rd March 2023
Global reinsurers' combined ratios deteriorated marginally to 95.7% for FY2022, despite this it remains strong while investment losses went up weighing on the average full-year ROE, which dropped to 10%, a Gallagher Re report revealed. According to the the Global Reinsurers’ Financial Results for FY2022 report, the reinsurers tracked by Gallagher ... Read the full article
Gallagher Re names Wakefield to become CEO, as James Kent transitions to group role
16th March 2023
Tom Wakefield is set to become the CEO of reinsurance broker Gallagher Re, after James Kent was promoted to a new role within Gallagher, as CEO of Global Insurance Strategic Relationships. Kent will take responsibility for establishing and driving a framework that determines how Gallagher connects with its major strategic partners ... Read the full article
Reinsurance no silver bullet to climate challenge: Gallagher Re’s Bavandi
9th March 2023
Antoine Bavandi, Global Head of Public Sector & Climate Resilience Solutions at Gallagher Re, has contended that re/insurance cover alone is no “silver bullet” to matching capital with risk and addressing the growing challenge of climate resilience. Bavandi instead suggests that insurance and reinsurance are only part of a much wider ... Read the full article
Gallagher Re acquires WTW India treaty reinsurance operation
9th March 2023
Reinsurance broker Gallagher Re is set to expand its operations in India with the creation of a single treaty reinsurance team that will be led by Vinod Krishnan, following an agreement to acquire the treaty reinsurance broking operations of Willis Towers Watson India Insurance Brokers Private Limited (WTW India). The reinsurance ... Read the full article
Gallagher Re appoints new co-head of agriculture for its International division
8th March 2023
Global reinsurance broker Gallagher Re has appointed Shilpa Pankaj to its team in Singapore as Executive Director and co-head of agriculture for its International division, which spans Asia Pacific, EMEA and Latin America. Pankaj holds over a decade of reinsurance broking and client management experience, Specialising in treaty reinsurance for agriculture, ... Read the full article
Gallagher Re acquires London market binder broker, Bay Risk
6th March 2023
Reinsurance broker Gallagher Re, has announced that it has acquired the business and assets of Bay Risk Services Limited, a member of the Optio Group, for an undisclosed sum. Established in 2016 as a London-based, independent Lloyd’s broker, Bay Risk specialises in structuring and placing contracts of delegated underwriting authority and, ... Read the full article
Reinsurers need evidence the tide is turning in Florida, says Gallagher Re’s Schwebach
28th February 2023
During an interview with AM Best TV at the annual Artemis ILS conference in New York on February 10th, Adam Schwebach, executive vice president, Gallagher Re explained how we are starting to see “the tide turn” within Florida’s insurance market. During the interview, he explained that current local market conditions, ... Read the full article
McManus & Kapfer to lead Gallagher Re’s specialty and indexed capabilities in Bermuda
21st February 2023
Global reinsurance broker Gallagher Re has announced the appointment of Alex McManus and Romain Kapfer to lead its index-based capabilities and specialty business in Bermuda, respectively. Effective immediately, McManus will lead index-based initiatives on the island working closely with Gallagher Securities, the insurance-linked securities (ILS) arm of Gallagher Re. His appointment, Gallagher ... Read the full article
RiverStone Intl. finalises £1.2bn RITC & LPT agreements with MS Amlin
15th February 2023
Legacy acquirer and reinsurer RiverStone International has completed a reinsurance-to-close (RITC) and a loss portfolio transfer (LPT) with MS Amlin Underwriting Limited, with net technical provisions of £1.2 billion. Under the agreement, RiverStone provides MS Amlin Syndicate 2001 with a RITC of the 2018 and prior years of account, and a ... Read the full article
Gallagher Re adds Parametric Solutions Lead to its climate resilience practice
13th February 2023
Gian Sandosh Semadeni is joining Gallagher Re’s Public Sector & Climate Resilience Solutions global practice as Parametric Solutions Lead. He will be working alongside Antoine Bavandi, who was appointed in 2022 to lead the new practice, and Dorra Berraies, who has spent four months serving at the practice as Senior ... Read the full article
Gallagher Re hires Junaid Seria as Head of Cat Analytics, LatAm & Caribbean
10th February 2023
Reinsurance broker Gallagher Re has appointed Junaid Seria as Head of Catastrophe Analytics for the fast-growing Latin America and Caribbean markets, with immediate effect. Within the role, Seria will be based in London where he will harness Gallagher Re’s extensive catastrophe modelling and analytical expertise across its dedicated teams in London, ... Read the full article
COVID losses in APAC could strain A&H reinsurers: Gallagher Re
9th February 2023
Analysts at Gallagher Re have warned that new COVID-19-related losses emanating from the Asia-Pacific region may put a strain on first-tier accident and health (A&H) reinsurers through 2023. The broker expects that the majority of these losses will be contained locally, but it does believe that the Lloyd’s market is likely ... Read the full article
Gallagher Re forecasts “inevitable” market adjustments amid inflation
6th February 2023
Analysts at reinsurance broker Gallagher Re have argued that market adjustments to ensure solvency for the re/insurance industry will be “inevitable” as the market looks to balance the continued effects of inflation, social inflation, elevated supply costs, and other variables. In its 2022 Natural Catastrophe report, Gallagher Re notes that nat ... Read the full article