AJ Gallagher

The incoming executive previously spent 17 years at AIG, most recently as head of financial lines for MENA.

In its Plane Talking report, the broker notes a “distinct differentiation” between the hull and liability and the hull war/third-party liability markets in 2023.

Some reinsurers could be heading into 2024 with spare capacity, the reinsurance leader said.

The broker said over-placement on some deals was a positive sign for brokers, though reinsurance capacity is still very tight in some areas.

The executive joined Gallagher in 2015 as COO of its international division.

The most effective route for insurers to engage with their clients on emissions reductions will require “fresh thinking and product innovation”, according to the reinsurer.

Other early users include Amwins, Aon, BMS Group, Consilium and Costero.

Business lines offered include P&C, marine, construction, cyber, trade credit, financial lines, and energy plus employee benefits services.

Hansen’s role will be effective after a transition period with departing COO Chris Brook.

The box is expected to be manned by Pen's team of specialist marine underwriters.

Martin Ford joins the broker following a 26-year-stint at Gallagher Re, formerly Willis Re.

The new product is backed by Tokio Marine Kiln and initially aimed at UK businesses, with plans to expand internationally.