Reinsurance News
Gallagher
Gallagher is an insurance and reinsurance broking group, as well as having advisory and consulting capabilities. The reinsurance broking arm is named Gallagher Re.
Read all our Gallagher insurance or reinsurance news and analysis below.
Sompo’s Joe Gilliland joins Gallagher’s US crisis management team
22nd July 2024
Gallagher has appointed Sompo International's Joe Gilliland as Executive Director within its US crisis management team. As Executive Director of the practice, Gilliland will work closely with Gallagher’s existing US team led by Bill Harrison, who is also an Executive Director, and will hold responsibility for driving Gallagher’s growth plans across ... Read the full article
Organisations to benefit from Artex newly launched Vermont Protected Cell Company
15th July 2024
Artex, Gallagher's wholly-owned subsidiary for alternative risk and capital, has launched its first Vermont Protected Cell Company (PCC), to provide organisations of all sizes and industries with an alternative platform to support their risk transfer needs. Artex Axcell PCC (Vermont), Inc. was formed in April 2024 to provide companies the ability ... Read the full article
Softening airline insurance market benefits buyers in Q2’24: Gallagher Specialty
15th July 2024
Gallagher Specialty’s Plane Talking Q2 2024 report highlights that excess capacity and heightened competition are driving a softening of rates, creating a more competitive pricing environment that benefits airline insurance buyers. This surplus capacity stems from increased rates in recent years coupled with lower average claims, intensifying competition and a focus ... Read the full article
Gallagher Re expects low-teens organic growth in Q2 amid sustained reinsurer discipline
26th June 2024
Speaking with analysts at KBW, Gallagher President, Thomas J. Gallagher, has anticipated low-teens reinsurance organic growth in Q2 of 2024, including sustained reinsurer discipline with property pricing slightly down but with rising aggregate demand heading into a potentially active hurricane season. In discussions between analysts at KBW and Gallagher executives at ... Read the full article
Proactive risk management key for 2024: Gallagher
17th June 2024
(Re)insurance broking group Gallagher's new report highlights the necessity for businesses and communities to adopt proactive risk management strategies, in light of global uncertainties in 2024. The year is marked by the potential for civil unrest, terrorism, and political violence due to upcoming elections worldwide. In the UK, environmental activism has caused ... Read the full article
Global trends & promising outlook for MGA & MGU revenues in 2023: Insuramore
14th June 2024
Managing General Agents (MGAs), Managing General Underwriters (MGUs), and cover-holder groups have amassed approximately USD 23.9 billion in revenues worldwide in 2023, according to a recent report by industry analysis firm Insuramore. The bulk of this revenue, ranging between 70% and 75%, stemmed from direct commercial P&C insurance, while the remaining ... Read the full article
Business owners worried insurance would not cover specific loss or event: Gallagher
12th June 2024
Business owners are focusing on preparing for the unforeseeable as they worry their business insurance will not cover specific losses, a recent study by insurance broker Gallagher has found. A survey was conducted among 1,000 US business owners which revealed that 80% of the participants are worried their business insurance will ... Read the full article
$168bn in fees & commissions earned from insurance broking activity in 2023, Insuramore
4th June 2024
The value of the worldwide market for insurance broking in terms of fees and commissions earned was around $168 billion in 2023, considerably up from around $151 billion in 2022, according to Insuramore a provider of marketing services focusing on the insurance sector. This increase is equivalent to a growth rate ... Read the full article
A. J. Gallagher reports 26% rise in net earnings in Q1’24 results
26th April 2024
Global insurance broker A. J. Gallagher & Co. has reported net earnings of $612.7 million for the first quarter of 2024, an increase of 26% on the $486.6 million seen a year earlier, driven by a strong performance in both its brokerage and risk management businesses. Group-wide, revenues before reimbursements rose ... Read the full article
Gallagher names Nick Harris CEO of its UK & Ireland Retail Division
5th March 2024
Gallagher has appointed Nick Harris as CEO of its UK & Ireland Retail Division, subject to regulatory approval. Harris joins Gallagher from Marsh, where he was CEO of its Pacific Division, a position he took up when the business purchased JLT in 2019. Before this, he spent several years in a ... Read the full article
PPL looks to accelerate API adoption with new programme
29th February 2024
Placing Platform Limited (PPL), an electronic trading platform for the London re/insurance market, has launched a broker Early Adoption Programme (EAP), which has a focus on the operationalisation of the platform's API capabilities and reflects the acceleration of market interest in APIs. Currently, PPL is working with eight firms to collaborate on ... Read the full article
Gallagher Specialty launches Parametric Insurance Centre of Excellence
22nd February 2024
Gallagher Specialty has created a Parametric Insurance Centre of Excellence designed to respond to changing market conditions and client demand. The centre of excellence reportedly includes a team of climate risk specialists, parametric brokers, an actuarial and modelling team, and risk modelling technology developed by Gallagher Specialty. "This specialist team will provide ... Read the full article
Gallagher grows facultative reinsurance team with several senior hires
14th February 2024
Gallagher has announced a number of senior appointments to its facultative (fac) reinsurance team, including the hire of Ardonagh’s Claire Burrell as Chief Operating Officer (COO). According to the announcement, the expansion is part of Gallagher’s growth plans for its global fac team, which includes establishing new hubs in Singapore and ... Read the full article
General Aviation faces pricing pressures and climate challenges: Gallagher Specialty
9th January 2024
In the Plane Talking Q4 2023 report authored by Philip Stafford, Senior Partner, Aerospace at Gallagher Specialty, insights into the General Aviation (GA) sector's performance during the fourth quarter of 2023 were explored, shedding light on key trends that may influence the industry in 2024. As the year concludes, indications suggest ... Read the full article
Space insurance market navigates uncertain terrain in 2024 amid capacity shifts: Gallagher
5th January 2024
In a year marked by unexpected challenges, the space insurance market faced a significant shift in the second half of 2023, reporting claims totaling USD 826 million, according to Gallagher Specialty's Plane Talking - Q4 2023. Notably, over 85% of losses, including those from Viasat-3 and Inmarsat 6-F2, stemmed from post-separation ... Read the full article
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