AJ Gallagher
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The facility provides coverage for property, terrorism, energy, construction and utilities risks. -
Though wildfire losses are up, total losses are the lowest since 2015.
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Insurer results and 1.1 reinsurance renewals will shape the trajectory of 2026.
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Despite a rocky H1, 2025 insured losses from nat cat events may not surpass 2024 levels.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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Susan Langley will look to strengthen global business ties and promote UK growth.
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Plus, the latest people moves and all the top news of the week.
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The change in reinsurance intermediary follows an RFP for the account.
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Lockton Re has predicted major growth in the global cyber insurance market.
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The practice group will enhance the company’s existing offerings in E&S.
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Reinsurance CEO Wakefield said reinsurance structures may evolve for prolonged growth.
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CEO Tom Wakefield said property cat supply is “materially outpacing demand”.
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The deal is part of Gallagher’s ongoing Asia-Pacific investment strategy.
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Strong CoRs and investment returns supported profitability in H1 2025.
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The broker said it was achievable to place a $2bn vertical limit in the London market.
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Bartlett is the latest in a series of talent moves in the construction market.
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The broker approved a grant of $316mn in equity awards payable in staggered amounts over the coming five years.
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However, group organic growth among public brokers has slowed to pre-pandemic levels.
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More investment in early stage firms is an indicator of bullish market, says Gallagher’s Johnston.
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AIG leads the all-risks cover and Axa XL is the hull war lead.
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The broker said that there could be a flattening of rate decreases in the hull market in 2026.
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Alistair Lester joins from Aon, where he has worked for the past eight years.
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AJ Gallagher has responded to a request for additional information under the HSR filing.
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The broker has nearly 20 years of experience in the reinsurance and retro markets.
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The impact on the (re)insurance market has been muted due to its strong capital position.
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Atradius Syndicate 1864 is expected to begin underwriting next year.
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Coface Lloyd’s Syndicate 2546 is expected to commence underwriting in 2025.
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The US accounted for 92% of all global insured losses for the period.
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Continued Apax and Carlyle support will give PIB time to differentiate its business.
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Apax and Carlyle will continue to back the broker consolidator.
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The availability of capacity remains the market’s key driver, the broker said.
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Gallagher, Marsh and Aon also faced sizeable outstanding premium payments as at Q4 2024.
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The broker’s fac reinsurance division will encompass around 70 staff, it is understood.
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The soft market continued through H1 2025, especially on shared programs.
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Gallagher Re’s Lara Mowery said mid-year renewals marked the “beginnings of capacity” emerging.
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Cedants were able to “challenge the status quo” with aggregates back on the table, the broker said.
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The broker built out Lockton Re’s US casualty and professional lines treaty book.
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This publication revealed his exit from MS Re last month.
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Henk Bijl joins from Aon, where he has worked for the last 25 years.
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Working out ROI on sponsorship deals is difficult, but the sport is beloved by insurance brands.
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The merger is on track to close in H2 2025, CEO Pat Gallagher said.
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SCS can no longer be considered a "secondary" peril for the US insurance market, Steve Bowen said.
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Renewable retrospective solutions were a key point during the discussion.
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Their next destination remains unknown.
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Sources suggested that the multiple could be as low as the 13x range as valuations reset.
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AJG still has $2bn of M&A capacity after the AP and Woodruff Sawyer deals.
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The broker will be based in Oslo and drive expansion in the Nordic region.
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SCS losses were also above average in Q1 due to “lingering” La Niña conditions.
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Technical pricing is insufficient in some areas and inflation is biting into margins.
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The book of business comprises both personal and commercial lines.
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Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
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Large losses and attrition put pressure on aviation underwriters.
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Langley said the London market could benefit from boosting its image at home and abroad.
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The Gallagher Re executive called on the market to “prepare to grow sustainably together”.
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Gallagher Re’s global head of retrospective solutions, James Dickerson, recently exited.
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The 1 April renewals are the key date for Japanese treaty.
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Overall market capacity increased by 5.3% year-on-year, the broker reported.
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Michael Pickel retired from Hannover Re last year after 25 years with the reinsurer.
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The March 13-16 storms would mark the first billion-dollar US SCS event of the year.
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Dickerson has spent over three years at the reinsurance broker.
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The company said it now expects the transaction to close in H2 2025.
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Competition for specialty reinsurance talent remains high.
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The California broker’s pro forma revenue for full year 2024 was $268mn.
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The broker’s current Australia and Asia CEO starts her new role on 1 July.
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The broker attributed the drop to smaller average deal sizes over the quarter.
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Plus, the latest people moves and all the top news of the week.
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Bolding will focus on aligning Gallagher Securities with Gallagher Re.
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Single-digit organic growth, robust casualty pricing and tapering margins were all key trends.
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The portfolio tracker facility is led by Canopius.
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The executive spent 43 years with WTW before joining Gallagher through the Willis Re sale.
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Parker has worked at Ardonagh-owned Paragon since 2012.
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The broker added reinsurers remain cautious on US casualty risk.
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Secondary perils accounted for 65% of global insured losses in 2024.
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Bradley was construction team leader for US casualty at WTW.
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Mathieu Loisel joins the reinsurance broker from New Re.
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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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Supply generally exceeded demand and trading relationships were ‘strong’, CEO Tom Wakefield said.
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The reinsurance market is now in a healthy, stable condition, according to Gallagher Re.
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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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The executive will also serve as an independent non-executive director of Gallagher in the UK.
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The Pen Underwriting MGA is expanding from its marine war specialism.
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The exits include several senior brokers who were previously with JLT and Hayward Aviation.
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Earlier this month this publication revealed that the brokerages were in advanced talks to secure a deal.
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Samer Ahmad was with Marsh for more than seven years.
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The broker said that pricing dynamics would require careful management, but adequacy remains
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Sources said the brokers are in the final stages and could seal a deal in the next couple of weeks.
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The pair will report to Imea CEO Julian Samengo-Turner.
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More broadly, the firm is looking at over 100 potential mergers in its pipeline, with ~$1.5bn acquired revenue.
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The above-average tally was driven by a high frequency of mid-sized events.
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The cost to the NFIP is likely to be a “mid to high single-digit-billion impact”.
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Paul spent five years at Gallagher Re in addition to 10 years at Guy Carpenter.
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The broker confirmed Darren Jones and Ian Curtin were also joining the firm.
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The Plane Talking report said the longevity of the ‘buyers’ market’ is in question.
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Simon Collings will join Gallagher’s UK executive team, reporting to UK CEO Michael Rae.
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An unexpected shift east towards Tampa could push losses beyond $10bn.
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Construction rates remain stable with some talk of potential softening.
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Former Artex managing director Jasmine DeSilva will run the segment.
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Francine is expected to make landfall in Louisiana tomorrow.
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Current head of specialty Paul Upton will move to become chairman of the division.
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Sources said Guy Carpenter has promoted Jennifer Paretchan to succeed Mowery.
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Debby should be a “very manageable” storm for the (re)insurance market, it said.
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This is a new role for the broker.
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W&I premium rates have fallen as low as 0.4% in the UK.
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Annual InsurTech funding volume for H1 was $2.2bn, just below $2.3bn for H1 2023.
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The broker said rising reinsurance costs after the Baltimore Bridge collapse could put a brake on softening in 2025.
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Most recently, Richard Harries was CEO at Atrium Underwriters.
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David Ritchie had worked at the broker for 15 years and ran the D&O and FI teams.
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A roundup of all the news you need today, including Lloyd’s chairman candidates.
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Based in Peru, the executive will oversee marine and aviation lines.
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Chief science officer Steve Bowen said it was still too early to provide precise insured-loss estimates.
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The broker will work to support US client retention and business growth.
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The company said insurers’ capacity and appetite had spurred competition over Q2.
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The broker said another strong year would drive pressure for “reasonably significant rate reductions” next year.
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The broker said it did not anticipate a slew of new entrants, with the possible exception of casualty start-ups.
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Richard Rudden left Fidelis MGU as head of energy transition in March.
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Some 39% of respondents expect deal volumes to increase in the next 12 months.
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A deal would mark Amwins’ second LatAm sale, after Lockton acquired THB Brazil last May.
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SCS caused global insured losses worth at least $8bn in the first quarter of 2024.
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Torrential rain caused flash floods in the Gulf States in the middle of April.
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His promotion to CEO was announced in March.
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The MGA boosted its capacity by 40% earlier this year, amid heightened activity in marine war.
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Jessica Cullen is relocating to London from New York to take up the new role.
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The broker will sponsor a fellowship for a researcher working at the university.
