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.
Insurance prices expected to rise for several years due to inflation, says Gallagher CEO to FT
22nd June 2023
Inflation-driven insurance price hikes are anticipated to persist for "a couple of years at least," according to Patrick Gallagher, CEO of Gallagher in an interview with the Financial Times. Gallagher highlighted that rising costs of claims have necessitated the insurance industry to raise premiums as part of a professional and astute ... Read the full article
Personnel moves one of the driving changes within cargo insurance: Gallagher Specialty
21st June 2023
Talent is driving change within the global cargo insurance market, as well as its potential use as an alternative capital provider to a possible hardening further P&C market, Gallagher Specialty highlighted in its recent cargo Insurance Market Update. According to the report, analysts have seen a significant number of personnel market ... Read the full article
NFU Mutual launches innovative parametric heat-stress insurance for dairy farmers
23rd May 2023
NFU Mutual, the leading rural insurer in the UK, has partnered with parametric insurance specialist Skyline Partners, insurer Markel, and broker Gallagher to introduce a groundbreaking insurance product designed specifically for dairy farmers. This parametric heat-stress insurance, the first of its kind in the UK, aims to mitigate the risks and ... Read the full article
Gallagher Re confirms departure of CEO James Kent
12th May 2023
James Kent, Chief Executive Officer (CEO) of global reinsurance broker Gallagher Re, is retiring from the company on June 1st, so will not be taking up his new role within Gallagher. Back in March, the firm announced that Tom Wakefield would take over as CEO, with Kent set to transition ... Read the full article
Gallagher appoints Ralph Sherbahn Head of Financial Lines for Asia
11th April 2023
Gallagher has appointed Ralph Sherbahn as Head of Financial Lines for Asia, where he will be based in Hong Kong and report to the CEO of North Asia, Thomas Wang. In the new role, Sherbahn is tasked with overseeing Gallagher’s financial lines operations in Asia with existing capabilities in Singapore and ... Read the full article
Gallagher enters Swedish market by consolidating its subsidiaries, hires Jonas Bergfeldt as CEO
3rd April 2023
Gallagher will launch its first direct presence in Sweden on the 3rd of April 2023, following the integration and rebranding of its three individual Swedish businesses Brim, Nordic and Proinova. Insurance and reinsurance broker Gallagher acquired Brim in 2016, which was followed by the acquisition of Nordic in 2017 and Proinova ... Read the full article
Gallagher Re names Wakefield to become CEO, as James Kent transitions to group role
16th March 2023
Tom Wakefield is set to become the CEO of reinsurance broker Gallagher Re, after James Kent was promoted to a new role within Gallagher, as CEO of Global Insurance Strategic Relationships. Kent will take responsibility for establishing and driving a framework that determines how Gallagher connects with its major strategic partners ... Read the full article
Aon hires Gallagher’s Rudman as Head of Marine, Asia
10th February 2023
Aon plc has announced that it has appointed Gallagher’s Stephen Rudman as head of Marine for Asia. Within the role, Rudman will be based in Singapore, where he will be part of Aon’s global marine executive team. He will also report to Paul Young - Head of Commercial Risk Solutions for Asia ... Read the full article
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
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