AJ Gallagher
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Mathieu Loisel joins the reinsurance broker from New Re. -
The anticipated portion ceded to reinsurance may reach the mid-to-high single-digit billions, it added.
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The broker said the market had entered a ‘new normal’ after $2bn+ losses
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The broker cautioned unresolved Russia-Ukraine claims remain a ‘Black Swan’
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The reinsurance market is now in a healthy, stable condition, according to Gallagher Re.
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Supply generally exceeded demand and trading relationships were ‘strong’, CEO Tom Wakefield said.
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Axa XL leads the aviation all-risks reinsurance coverage for the destroyed Jeju Air Boeing 737-800 craft.
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Axa XL is understood to be the lead carrier, with Gallagher the broker on the account.
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The pair will lead crisis management and financial lines, respectively.
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The executive said the combined entity could execute 100-110 tuck-in M&A deals a year.
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The deal represents a 14.3x Ebitda multiple and strengthens Gallagher’s mid-market position.
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If the deal is finalised, it will represent the largest in the acquirer’s history.
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