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.
Gallagher names Head of Natural Resources for MEA
9th February 2023
Re/insurance broker Gallagher has announced the appointment of Corey Tidey as Head of Natural Resources for the Middle East and Africa (MEA). Tidey joins Gallagher from Lockton Australia, having previously held roles with the Victorian Managed Insurance Authority (VMIA), Aon and Intech in both Asia and Europe. He brings experience in working ... Read the full article
AJ Gallagher’s brokerage & risk management units post 16% organic revenue growth in Q4
27th January 2023
Global insurance and reinsurance broker, Arthur J. Gallagher & Co., has reported adjusted net earnings of $367.9 million for the fourth quarter of 2022 within its brokerage operations, which alongside higher earnings in its risk management segment, more than offset an elevated loss within the corporate division. Company-wide, adjusted net earnings ... Read the full article
Gallagher appoints Aviva’s Piper as Head of Strategic Account Management
20th January 2023
Gallagher has announced that it has appointed Louise Piper as Head of Strategic Account Management, where she will report to Specialty CEO, Jonathan Turner. In the role, she will be responsible for the management of Gallagher’s offering to large multinational clients. She will also work alongside the specialist broking teams in ... Read the full article
Renewals an opportunity for global aerospace insurance market to re-set: Gallagher
16th January 2023
The 2022/2023 aerospace reinsurance renewals season is a chance to re-set retention levels, policy conditions and pricing levels to enable the global aerospace (GA) insurance market to continue to serve its end-user client base, according to Gallagher analysts. This opportunity presents itself as this renewals season for the global insurance market ... Read the full article
Host of economic headwinds continue to constrain US ILS capital: Gallagher
12th January 2023
Analysts at Gallagher Securities have suggested the combination of Hurricane Ian losses, lacklustre returns results, the strong US dollar, and a large number of issuances since 2020 are leaving USD insurance-linked securities (ILS) capital constrained in terms of liquidity, implicating that risk spreads are widening materially. In addition, ILS capacity continues ... Read the full article
Gallagher to launch energy & power risk services in Middle East
10th January 2023
Gallagher has announced that it is launching energy and power risk services for clients in the Middle East, naming Jack Wishart to lead the new practice as Divisional Director & Head of Risk Engineering. Wishart, who is currently Vice President, Risk Engineer, at Marsh in the UAE, will join Gallagher in ... Read the full article
KBW sees solid growth prospects for Gallagher Re
16th December 2022
Analysts at KBW are forecasting “solid growth prospects” for reinsurance broking unit Gallagher Re over the next two years, following comments at Arthur J. Gallagher’s recent investor day. It’s thought that Gallagher Re could be set to “go on to strong offense” in 2023 as reinsurance rates rise, especially for property ... Read the full article
Communication key as D&O market continues stabilisation: Gallagher
15th December 2022
The directors’ and officers’ insurance (D&O) market has continued a period of stabilisation over the last quarter, according to a recent report by insurance brokerage firm Gallagher. Analysts noted that, due to insurer competition, the record-high premiums seen in the previous two years have continued to decline. The challenges seen from a ... Read the full article
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
Over 40% of UK commercial properties underinsured, reports Gallagher
6th December 2022
Re/insurance broker Gallagher has reported that more than two in five commercial properties in the UK are currently underinsured due to rising inflation and cost of materials. In research amongst business owners and commercial property claims managers, Gallagher found that the shortfall of underinsured properties was an average of 43% against ... Read the full article
Reinsurance market expected to cause Hull insurers difficulties at renewals: Gallagher
29th November 2022
According to the Divisional Director of Marine at Gallagher, Mike Ingham, the reinsurance market is expected to present Hull insurers with a new set of difficulties at the forthcoming January renewals. Ingham notes that the market is already suffering from large potential losses on Aviation War and War on Land policies. He ... Read the full article
Substantial changes in war reinsurance programmes possible in 2023: Gallagher
25th November 2022
The ongoing war in Ukraine and the sizable losses it has caused to the re/insurance market, have pushed many industry bodies to make changes in war reinsurance programs. Because of this, some experts are predicting fairly seismic changes to the war market in 2023, according to Gallager’s recent marine market report. However, ... Read the full article
AJG to raise equity capital to fund new acquisitions
16th November 2022
Re/insurance broking firm, Arthur J. Gallagher & Co (AJG)., has announced the renewal of its equity financing program for acquisitions. The firm has registered seven million shares for issuance in connection with brokerage and risk management acquisitions, in addition to two million shares that remain available for issuance from previously. It has ... Read the full article
Arthur J. Gallagher acquires PIUS Limited
10th November 2022
Re/insurance broking firm, Arthur J. Gallagher & Co has announced it has acquired North Carolina-based PIUS Limited and its affiliate Newlight Capital. Terms of the transaction were not disclosed. Patent Insurance Underwriting Services (PIUS) is a managing general agent offering a proprietary insurance product that allows clients to insure certain intellectual property ... Read the full article
Gallagher bolsters Irish presence with acquisition of Doyle Mahon
4th November 2022
Gallagher has announced that it has acquired Doyle Mahon Insurances, further augmenting its presence in Ireland. The news follows Gallagher’s acquisition of Innovu in June this year, which it has now fully integrated and is being rebranded to Gallagher on November 7th, 2022, marking the firm’s first direct presence in ... Read the full article
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