AJ Gallagher
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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.
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The broker said dynamics were dependent on full-year results, after years of poor returns.
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The senior retro/specialty broker spent 26 years at Willis Re, which was acquired by Gallagher in 2021.
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Alexander will join after his competitive restrictions are up.
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Increased private investments by (re)insurers have been a “theme of the year” according to Johnston, who described the year as “one of consistency.”
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The economic losses from the event are expected to exceed $10bn, the report added.
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The unit almost doubled its organic growth rate from 11% in Q2, while in Q1 the division posted 12% organic growth.
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Climate change is causing an upward trend in losses, but it should not be conflated with the impact of seasonal variability, according to Gallagher Re.
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The broker said that $100bn+ loss years have become the “new normal”.
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A report from the firm warns that the market needs to upskill on cyber.
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Mark Jenkins becomes chairman of the global credit and political risk team.
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