AJ Gallagher

The facility provides coverage for property, terrorism, energy, construction and utilities risks.

Though wildfire losses are up, total losses are the lowest since 2015.

Insurer results and 1.1 reinsurance renewals will shape the trajectory of 2026.

Despite a rocky H1, 2025 insured losses from nat cat events may not surpass 2024 levels.

As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.

Susan Langley will look to strengthen global business ties and promote UK growth.

Plus, the latest people moves and all the top news of the week.

The change in reinsurance intermediary follows an RFP for the account.

Lockton Re has predicted major growth in the global cyber insurance market.

The practice group will enhance the company’s existing offerings in E&S.

Reinsurance CEO Wakefield said reinsurance structures may evolve for prolonged growth.

CEO Tom Wakefield said property cat supply is “materially outpacing demand”.

The deal is part of Gallagher’s ongoing Asia-Pacific investment strategy.

Strong CoRs and investment returns supported profitability in H1 2025.

The broker said it was achievable to place a $2bn vertical limit in the London market.

Bartlett is the latest in a series of talent moves in the construction market.

The broker approved a grant of $316mn in equity awards payable in staggered amounts over the coming five years.

However, group organic growth among public brokers has slowed to pre-pandemic levels.

More investment in early stage firms is an indicator of bullish market, says Gallagher’s Johnston.

AIG leads the all-risks cover and Axa XL is the hull war lead.

The broker said that there could be a flattening of rate decreases in the hull market in 2026.

Alistair Lester joins from Aon, where he has worked for the past eight years.

AJ Gallagher has responded to a request for additional information under the HSR filing.

The broker has nearly 20 years of experience in the reinsurance and retro markets.

The impact on the (re)insurance market has been muted due to its strong capital position.

Atradius Syndicate 1864 is expected to begin underwriting next year.

Coface Lloyd’s Syndicate 2546 is expected to commence underwriting in 2025.

The US accounted for 92% of all global insured losses for the period.

Continued Apax and Carlyle support will give PIB time to differentiate its business.

Apax and Carlyle will continue to back the broker consolidator.

The availability of capacity remains the market’s key driver, the broker said.

Gallagher, Marsh and Aon also faced sizeable outstanding premium payments as at Q4 2024.

The broker’s fac reinsurance division will encompass around 70 staff, it is understood.

The soft market continued through H1 2025, especially on shared programs.

Gallagher Re’s Lara Mowery said mid-year renewals marked the “beginnings of capacity” emerging.

Cedants were able to “challenge the status quo” with aggregates back on the table, the broker said.

The broker built out Lockton Re’s US casualty and professional lines treaty book.

This publication revealed his exit from MS Re last month.

Henk Bijl joins from Aon, where he has worked for the last 25 years.

Working out ROI on sponsorship deals is difficult, but the sport is beloved by insurance brands.

The merger is on track to close in H2 2025, CEO Pat Gallagher said.

SCS can no longer be considered a "secondary" peril for the US insurance market, Steve Bowen said.

Renewable retrospective solutions were a key point during the discussion.

Their next destination remains unknown.

Sources suggested that the multiple could be as low as the 13x range as valuations reset.

AJG still has $2bn of M&A capacity after the AP and Woodruff Sawyer deals.

The broker will be based in Oslo and drive expansion in the Nordic region.

SCS losses were also above average in Q1 due to “lingering” La Niña conditions.

Technical pricing is insufficient in some areas and inflation is biting into margins.

The book of business comprises both personal and commercial lines.

Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.

Large losses and attrition put pressure on aviation underwriters.

Langley said the London market could benefit from boosting its image at home and abroad.

The Gallagher Re executive called on the market to “prepare to grow sustainably together”.

Gallagher Re’s global head of retrospective solutions, James Dickerson, recently exited.

The 1 April renewals are the key date for Japanese treaty.

Overall market capacity increased by 5.3% year-on-year, the broker reported.

Michael Pickel retired from Hannover Re last year after 25 years with the reinsurer.

The March 13-16 storms would mark the first billion-dollar US SCS event of the year.

Dickerson has spent over three years at the reinsurance broker.

The company said it now expects the transaction to close in H2 2025.

Competition for specialty reinsurance talent remains high.

The California broker’s pro forma revenue for full year 2024 was $268mn.

The broker’s current Australia and Asia CEO starts her new role on 1 July.

The broker attributed the drop to smaller average deal sizes over the quarter.

Plus, the latest people moves and all the top news of the week.

Bolding will focus on aligning Gallagher Securities with Gallagher Re.

Single-digit organic growth, robust casualty pricing and tapering margins were all key trends.

The portfolio tracker facility is led by Canopius.

The executive spent 43 years with WTW before joining Gallagher through the Willis Re sale.

Parker has worked at Ardonagh-owned Paragon since 2012.

The broker added reinsurers remain cautious on US casualty risk.

Secondary perils accounted for 65% of global insured losses in 2024.

Bradley was construction team leader for US casualty at WTW.

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.

The broker said the market had entered a ‘new normal’ after $2bn+ losses

The broker cautioned unresolved Russia-Ukraine claims remain a ‘Black Swan’

Supply generally exceeded demand and trading relationships were ‘strong’, CEO Tom Wakefield said.

The reinsurance market is now in a healthy, stable condition, according to Gallagher Re.

Axa XL leads the aviation all-risks reinsurance coverage for the destroyed Jeju Air Boeing 737-800 craft.

Axa XL is understood to be the lead carrier, with Gallagher the broker on the account.

The pair will lead crisis management and financial lines, respectively.

The executive said the combined entity could execute 100-110 tuck-in M&A deals a year.

The deal represents a 14.3x Ebitda multiple and strengthens Gallagher’s mid-market position.

If the deal is finalised, it will represent the largest in the acquirer’s history.

The executive will also serve as an independent non-executive director of Gallagher in the UK.

The Pen Underwriting MGA is expanding from its marine war specialism.

The exits include several senior brokers who were previously with JLT and Hayward Aviation.

Earlier this month this publication revealed that the brokerages were in advanced talks to secure a deal.

Samer Ahmad was with Marsh for more than seven years.

The broker said that pricing dynamics would require careful management, but adequacy remains

Sources said the brokers are in the final stages and could seal a deal in the next couple of weeks.

The pair will report to Imea CEO Julian Samengo-Turner.

More broadly, the firm is looking at over 100 potential mergers in its pipeline, with ~$1.5bn acquired revenue.

The above-average tally was driven by a high frequency of mid-sized events.

The cost to the NFIP is likely to be a “mid to high single-digit-billion impact”.

Paul spent five years at Gallagher Re in addition to 10 years at Guy Carpenter.

The broker confirmed Darren Jones and Ian Curtin were also joining the firm.

The Plane Talking report said the longevity of the ‘buyers’ market’ is in question.

Simon Collings will join Gallagher’s UK executive team, reporting to UK CEO Michael Rae.

An unexpected shift east towards Tampa could push losses beyond $10bn.

Construction rates remain stable with some talk of potential softening.

Former Artex managing director Jasmine DeSilva will run the segment.

Francine is expected to make landfall in Louisiana tomorrow.

Current head of specialty Paul Upton will move to become chairman of the division.

The reported RoE stabilised at 19.6%.

Sources said Guy Carpenter has promoted Jennifer Paretchan to succeed Mowery.

Debby should be a “very manageable” storm for the (re)insurance market, it said.

This is a new role for the broker.

W&I premium rates have fallen as low as 0.4% in the UK.

Annual InsurTech funding volume for H1 was $2.2bn, just below $2.3bn for H1 2023.

The broker said rising reinsurance costs after the Baltimore Bridge collapse could put a brake on softening in 2025.

Most recently, Richard Harries was CEO at Atrium Underwriters.

David Ritchie had worked at the broker for 15 years and ran the D&O and FI teams.

A roundup of all the news you need today, including Lloyd’s chairman candidates.

Based in Peru, the executive will oversee marine and aviation lines.

Chief science officer Steve Bowen said it was still too early to provide precise insured-loss estimates.

The broker will work to support US client retention and business growth.

The company said insurers’ capacity and appetite had spurred competition over Q2.

The executive was due to join Marsh in a similar role.

The broker said another strong year would drive pressure for “reasonably significant rate reductions” next year.

The broker said it did not anticipate a slew of new entrants, with the possible exception of casualty start-ups.

Richard Rudden left Fidelis MGU as head of energy transition in March.

Some 39% of respondents expect deal volumes to increase in the next 12 months.

A deal would mark Amwins’ second LatAm sale, after Lockton acquired THB Brazil last May.

SCS caused global insured losses worth at least $8bn in the first quarter of 2024.

Torrential rain caused flash floods in the Gulf States in the middle of April.

His promotion to CEO was announced in March.

The MGA boosted its capacity by 40% earlier this year, amid heightened activity in marine war.

Jessica Cullen is relocating to London from New York to take up the new role.

The broker will sponsor a fellowship for a researcher working at the university.

The broker had been vying with Marsh McLennan and AJ Gallagher.

The MGA can also offer cargo war risk coverage of up to $100mn.

The former Nephila director joined the broker last year.

Insured loss for Q1 was 10% higher than the decadal average of $18bn.

Curtin has spent almost 50 years in the market with stints at Marsh and Sedgwick.

The broker attributed increased capacity to improving profitability.

The market remains “delicately balanced” amid global conflicts and claims deterioration.

Reinsurers have a "strong desire" for growth, but not at the expense of underwriting.

Negotiations around US casualty and financial lines were more stressed.

Rates continue to trend downwards in the D&O class of business.

A total of 30 carriers entered the US public company D&O space in 2023.

There is more capacity in the market for long-term risks.

The talks are advanced, and the process is likely to move rapidly.

Driscoll and Lubert have been promoted to presidents.

The findings have implications for businesses and D&O.

The 1 January treaty renewal was “far more orderly”.

Tim Bluck joins as a partner, covering UK clients.

The recruits join from Ardonagh, Guy Carpenter, Howden and Miller.

According to its 2023 10-K, Gallagher spent $3.74bn on M&A activity.

The probe concluded in Q4 last year, according to Gallagher’s 10-K.

Ditte Deschars will be moving into the chairperson role for EMEA.

The broker made a number of energy hires from Price Forbes and Miller last year.

Funding dropped from $8bn in 2022 to $4.5bn in 2023, a 43.7% decrease.

Convective storms cost more than ever, but activity was not exceptional.

Spenner will succeed Tony Melia, who is retiring later this year.

Total brokerage revenue was up 20.4% year on year.

A deal would mark Amwins’ second LatAm sale, after this publication revealed that Lockton acquired THB Brazil last May.

2023 was the fourth consecutive year insured cat losses surpassed $100bn.

Siemens Gamesa is one of the world’s leading renewable energy manufacturing companies.

Alexandre Delacroix will lead the Continental hub.

This follows a challenging period for business last year.

The executive has spent 20 years in the industry.

The new team is one of several the broker has set up in the past 18 months.

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.

The broker said dynamics were dependent on full-year results, after years of poor returns.

The senior retro/specialty broker spent 26 years at Willis Re, which was acquired by Gallagher in 2021.

Alexander will join after his competitive restrictions are up.

Increased private investments by (re)insurers have been a “theme of the year” according to Johnston, who described the year as “one of consistency.”

The economic losses from the event are expected to exceed $10bn, the report added.

The unit almost doubled its organic growth rate from 11% in Q2, while in Q1 the division posted 12% organic growth.

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.

The broker said that $100bn+ loss years have become the “new normal”.

A report from the firm warns that the market needs to upskill on cyber.

Mark Jenkins becomes chairman of the global credit and political risk team.

Looking to the key Q4 renewal period, Gallagher said there is “little to suggest a drastic shift in conditions”.

The report also highlighted general liability policies as an area of potential exposure to insurers.

At an event that brought together construction insurers, brokers, engineers and developers, delegates discussed an impasse over insuring sustainable development projects.

He will be responsible for oversight of all aspects of the practice and leading the firm's growth in the market.

Most of the broker’s clients have incurred losses below or about equal to ceded premiums and only one with losses exceeding ceded premiums.

The executive will move to the (re)insurer after almost two years at Gallagher Re, a company he joined after the acquisition of Willis Re in late 2021.

Carriers benefited from improved rate adequacy and the impact of interest rate rises on investment returns.

The repercussions of the war between Russia and Ukraine continue to affect several countries, including Egypt and Somalia, as a result of grain-supply interruptions.

The broker said that the Big Bend region towards which the storm is heading has a low exposure density.

The role was originally slated to be taken on by now retired James Kent, former CEO of Gallagher Re.

The executive will work out a long notice period at his current employer before joining the independent broker next year.

Gallagher Re's latest Global InsurTech report has shown that Q2 funding dropped below $1bn to the lowest quarterly investment level in three years.

WTW is quietly sounding out market executives for a potential relaunch into reinsurance once its two-year non-compete agreement with Gallagher Re ends in December, this publication can reveal.

Richard Webb will lead the new division.

Gallagher Re posted 11% organic growth in Q2, down from 12% in Q1, while RPS recorded 10%, up from 8% the previous quarter.

Double-digit rate decreases are common in the class of business despite macroeconomic headwinds.

Eduardo Molinari served most recently as general manager of Iberia at Hannover Re.