Reinsurance News
Gallagher Re
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
Global reinsurers driving premium growth so far in 2022: Gallagher Re
30th November 2022
Premium growth in the first nine months of 2022 has been driven by global reinsurers, says reinsurance broker Gallagher Re in a new analysis. The firm said that the (re)insurers it tracked reported YOY premium growth of 13% by Q3, but the strongest increases came from global reinsurers and reached 18.2%. It ... Read the full article
Cyber model evaluation needed as risk horizon evolves: Gallagher Re
11th November 2022
According to a report from re/insurance broker Gallagher Re, cyber models have done well to keep pace with the cyber insurance market in recent years, however, the ever-changing size and scope of the industry means that claims are often of a vector, frequency or magnitude that are still missing from ... Read the full article
Insurtech funding stable through ‘inflection point’ Q3: Gallagher Re
1st November 2022
New data from re/insurance broker Gallagher Re shows that $2.35 billion of global insurtech-sector investment was made in Q3 2022, which marked something of an “inflection point” for the space. The level of investment was in fact down 2.5% from Q2's total, but Gallagher Re notes that the headline figure masks ... Read the full article
David Bangs named Head of Gallagher Re APAC UK
29th September 2022
Global reinsurance broker Gallagher Re has announced the appointments of David Bangs as Head of Gallagher Re APAC UK, based in London and Robin Swindell as Executive Officer, based in Tokyo. Bangs is returning to Gallagher Re having started his career with Willis Re in London in 2005, before being transferred ... Read the full article
Floridian insurers see underwriting improve in Q2 2022: Gallagher Re
23rd September 2022
According to reinsurance broker Gallagher Re’s Q2 Florida Market Watch Report, the combined ratio of the industry improved by 13.1% year-over-year to 109%. At the same time, loss & LAE reserve ratios at an industry level fell by 7.3% to 73.1% in Q2, as the expense ratio declined from 41.7% in ... Read the full article
Gallagher Re hires Choniski as Head of Embedded Insurance, North America
15th September 2022
Broker Gallagher Re has appointed Alexander Choniski in the newly created role of Head of Embedded Insurance, in North America, within its Alternative Distribution vertical. Within this role, he will be responsible for creating an embedded insurance solution for clients in North America. The role will also allow him to work in ... Read the full article
Gallagher Re makes new appointments as it launches the Gallagher Research Centre
13th September 2022
Gallagher Re has appointed Steve Bowen to the role of chief science officer within its Global Analytics & Advisory venture as it launches its new Gallagher Research Centre (GRC). Bowen will be based in Chicago, where he will work closely with the GRC, alongside the firm’s Global Catastrophe Analytics and the ... Read the full article
Gallagher Re expands cyber reinsurance team in North America
7th September 2022
Global reinsurance broker, Gallagher Re, has appointed Jasper Goring as head of its cyber reinsurance hub in New York amid the creation of a dedicated cyber analytics function and the growth of its specialist team in North America. Goring will lead the broker’s cyber reinsurance specialism to support NA-based clients and ... Read the full article
Gallagher Re hires Emilie Desormeaux as Executive Director
2nd September 2022
Gallagher Re has appointed Emilie Desormeaux as Executive Director, where she will be based in Paris, France. She joins from reinsurance giant Swiss Re where she worked at for over 14 years. During her tenure at Swiss Re, Desormeaux served as a Casualty Underwriter and Client Manager for the French market. Prior to ... Read the full article
European capital positions continue to strengthen: Gallagher Re
2nd September 2022
Gallagher Re says that the capital positions for European (re)insurers have continued to strengthen this year, with the average solvency for those it tracks improving to 235%, up from 222% in H1 2021. The firm said in a note that this level of sector solvency is comfortably above the c.200% upper ... Read the full article
Gallagher Re hires Alexandre Delacroix to new role
31st August 2022
Gallagher Re has hired Alexandre Delacroix to the role of executive director within its EMEA West & South team. In his new Paris-based role, Delacroix will focus on a range of capital market activities, including ILS and collateralised reinsurance, and thus be part of Gallagher Re’s specialist ILS and capital markets ... Read the full article
Aon hires Sarah Freitag from Gallagher Re
30th August 2022
Sarah Freitag has joined insurance and reinsurance broker Aon from Gallagher Re, taking on the role of Executive Managing Director, Head of E&S Specialty P&C. Based in New York, Freitag joins Aon after spending roughly 10 months with reinsurance broker Gallagher Re, initially as Executive Vice President, Specialty Property Segment Leader, ... Read the full article
Re/insurer H1 results ‘exceptionally strong’, says Gallagher Re
23rd August 2022
Gallagher Re has reported that underwriting results were "exceptionally strong" for global re/insurers across the board in H1 2022 with an average combined ratio of 94.1%, and all but three re/insurers posting a sub-100% combined ratio. The firm said that this level of profitability is broadly in line with the 93.8% ... Read the full article