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.
$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
Gallagher names Nepomuk Loesti CCO of European broking operations
4th January 2024
Gallagher has appointed Nepomuk Loesti (Nepo) as Chief Commercial Officer of its European broking operations to support its expansion in the region. Loesti joins Gallagher from AIG, where he spent the last 17 years in a range of roles in Zurich, London, New York, Frankfurt and Munich. Most recently, he was Head ... Read the full article
Amwins, Costero and Consilium among first brokers to adopt new market reform contract MRC v3
6th December 2023
Amwins, Aon, BMS Group, Gallagher, Howden, Consilium and Costero have started using the new market reform contract (MRC v3) marking the first step to the full adoption of Blueprint Two. The two-year program builds on the foundations laid by Blueprint One in September 2019 and focuses on shifting the market ... Read the full article
AJ Gallagher forecasts firm pricing, increased demand at Jan renewals: CEO
30th October 2023
In a recent earnings call, J. Patrick Gallagher, Jr., Chairman, President, and CEO of Arthur J. Gallagher & Co., discussed the outlook for the upcoming January reinsurance renewals. Following a stable July 1 renewal season, the company has set its sights on what's ahead for the industry. Gallagher expressed optimism, saying, "Assuming ... Read the full article
Aviation reinsurance market faces challenges and ongoing dispute amid diverging trends: Gallagher
5th October 2023
In the latest edition of Plane Talking, re/insurance broker Gallagher noted that as the aviation reinsurance and retrocession markets approach the final quarter of 2023, they continue to grapple with a range of complex challenges and evolving market dynamics. In its Q3’23 edition of Plane Talking, Gallagher noted that one significant ... Read the full article
Vullo named Executive Director of Gallagher Specialty’s Marine P&I practice
28th September 2023
Alex Vullo has been appointed Executive Director of Gallagher's Marine Protection & Indemnity (P&I) insurance practice, where he will be responsible for leading its growth in the market. According to the firm, Vullo will report to Jonathan Suckling, CEO of Marine, Art and Specie for Gallagher Specialty. "The practice has increased substantially ... Read the full article
Gallagher appoints Jamie Gee as Associate Director, Financial Lines, Middle East & Africa
22nd August 2023
Global insurance broker Gallagher has announced the appointment of Jamie Gee as Associate Director within its financial lines practice in the Middle East and Africa business. Daniel Miller, Divisional Director of Gallagher, commented on the hire, “Jamie brings fantastic technical knowledge and strengthens our existing capability and proposition. His experience in ... Read the full article
Gallagher Re hires Hannover Re’s Eduardo Molinari as Chairman of Iberia
21st July 2023
Eduardo Molinari has left large European reinsurer Hannover Re after almost 25 years to take up a new role at reinsurance broker Gallagher Re, as Chairman of Iberia, effective September 1st, 2023. Based in Madrid, Gallagher Re's Iberian hub, Molinari will assist with the team's expansion across the region as the ... Read the full article
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