Reinsurance News

Gallagher Re

Accord Mortgages joins Gallagher Re’s Deposit Unlock scheme

4th August 2022

Global reinsurance broker, Gallagher Re, has welcomed Accord Mortgages as the latest UK lender to join Deposit Unlock, a reinsurance-backed mortgage indemnity scheme. After joining this scheme, Accord Mortgages can now lend up to 95% loan-to-value (LTV) for new build houses as the government’s Help to Buy and mortgage guarantee schemes ... Read the full article

Insurtech investments up to $2.4 billion in Q2 2022, says Gallagher Re

4th August 2022

Investment in the insurtech space in the second-quarter of 2022 increased by 8.3% from the opening quarter of the year to $2.41 billion, as a rise in the average deal size masked a decline in the overall number of deals, according to reinsurance broker Gallagher Re's latest Global Insurtech Report. Despite ... Read the full article

Gallagher Re names Kelli Morash EVP in North America

29th July 2022

Global reinsurance broker, Gallagher Re, has appointed veteran Kelli Morash as Executive Vice-President in North America. Morash will be based in Dallas, Texas, where as a senior sales leader, and part of the newly established NA sales vertical, will play a key role in driving new business growth by drawing on ... Read the full article

“Critical concerns” persist for Lloyd’s despite progress: Gallagher Re

12th July 2022

A new report by reinsurance broker Gallagher Re concludes that a number of both internal and external challenges remain “critical concerns” for the Lloyd’s of London market, despite measurable progress last year. The first annual Lloyd’s of London Market Report from Gallagher Re tracked the Lloyd’s market's capital and profitability throughout ... Read the full article

Gallagher Re finds pricing in US Nationwide market up by 40% in spots

7th July 2022

Gallagher Re’s latest mid-year renewals report has found that property rate movements in the US has increased by up to 40%. Pricing in some cases in the Florida market have even increased by up to 50%. In the report, Gallagher Re stated that risk excess and catastrophe capacity started to become ... Read the full article

Stand-alone protection for cyber ‘essentially unobtainable’ at economical terms: Gallagher Re

6th July 2022

According to Gallagher Re’s mid-year renewals report, stand-alone risk protection for cyber is essentially unobtainable at economical terms, however some cyber risk protection is still available via composite casualty treaties. The report also highlights how there is a continued appetite on the proportional side for supporting existing programmes as both cyber ... Read the full article

California Earthquake Authority adds TigerRisk to reinsurance broker panel

6th July 2022

The California Earthquake Authority (CEA), one of the world's largest insurers of residential earthquake cover, has added TigerRisk Partners as an additional reinsurance broker to its panel of providers. Given the size of the CEA's reinsurance needs, around $9 billion, the insurer utilises multiple reinsurance brokers to help it in facing ... Read the full article

Gallagher Re and Africa Re team up to address protection gap in Africa

5th July 2022

Gallagher Re and Africa Re are to team up in an effort the firms say will ‘strengthen the financial resilience of African countries against a broad range of climate, crisis and disaster risks’. Named ‘Accelerating action through scalable risk transfer schemes’, the initiative is offering a robust, replicable, and modular framework ... Read the full article

Inflation a hot topic of discussion for casualty reinsurance placements: Gallagher Re

5th July 2022

According to Gallagher Re’s mid-year renewals report, inflation remained an ever-increasing topic for discussion for casualty reinsurance placements. The report notes that reinsurers were seeking client by client explanations in relation to the management of this risk in reinsurance placements Moreover, with an increased focus on pricing adequacy from reinsurers, the recent ... Read the full article

Gallagher Re appoints Swiss Re’s Christian Kreutzer to Executive Director

4th July 2022

Global reinsurance broker Gallagher Re, has announced that it has appointed Christian Kreutzer to the role of Executive Director, effective immediately. Kreutzer will join the Nordic management team alongside David Egan, Mikkel Nyquist, Mark Cole and Randi Paulsrud and will report to Ditte Deschars, Regional Director and Head of Nordic at ... Read the full article

Gallagher Re finds pricing in Australia market up by 25% in spots

4th July 2022

According to Gallagher Re’s latest mid-year renewals report, property reinsurance rates in some cases in Australia has increased by up to 25%. In their 1st View Report, the broker stated that it was a much later and tougher renewal than normal, with reinsurers seeking additional information on the impact of flood ... Read the full article

Gallagher Re finds pricing in Florida market up by 50% in spots

1st July 2022

Gallagher Re’s latest mid-year renewals report has found that pricing in some cases in the Florida market has increased by up to 50%. The report found that reinsurers had continued in their efforts to de-risk portfolios and manage net PMLs. It also found that some had existed the Florida market completely. ... Read the full article

Economic pressures drive widespread rate increases at 1/7: Gallagher Re’s Vickers

1st July 2022

The pressures of inflation and rising interest rates caused reinsurers to remain cautious at the July renewals, which resulted in much less available capacity for buyers and higher prices across the board. This is according to James Vickers, Chairman International, Reinsurance, at Gallagher Re, who spoke to Reinsurance News about July ... Read the full article

Sellers market persists as attachment levels & costs rise at July renewals: Gallagher Re

1st July 2022

Almost all buyers of protection were able to secure their reinsurance coverage at a July 1st, 2022, renewals shaped by economic factors which helped to sustain market hardening, according to Gallagher Re's 1st View report. After a late and tough June 1st reinsurance renewals, all eyes turned to the later mid-year ... Read the full article

Gallagher Re recruits climate resilience leader from World Bank

27th June 2022

Reinsurance broker Gallagher Re has recruited Antoine Bavandi to lead a newly established Public Sector & Climate Resilience Solutions global practice. As Global Head of Public Sector, Parametric & Climate Resilience Solutions, he will manage the practice as it looks to advise both public and private sector institutions. Bavandi most recently served ... Read the full article