AJ Gallagher

The firm adjusted 2022 projected revenues for the acquired Willis Re book down by $10mn from its 2020 figures due to forex and Ukraine changes.

The Gallagher-placed programme is in focus as the aviation market tries to digest the implications of the Russia-Ukraine conflict.

The broker has distributed top jobs among former Willis Re and legacy Gallagher Re staff.

The recruit is the latest WTW alumnus to join the DIFC-based fac and specialty operation.

The intermediary has also bought a majority share in Ace Re.

An internal announcement from James Kent reveals the first outlines of what the future will look like for the #3 reinsurance broker.

Heather Bone is joining as CEO, with other senior appointments including Peter Button, Andre Geldart and Alessandro Simi as executive directors.

The acquisition of Willis Re last year transformed Gallagher into a top-three reinsurance player.

Cyber reinsurance premiums may exceed those of property cat by 2040.

Sources told this publication Tom Draper would become head of insurance at the expansive MGA’s European operation.

Despite an increased risk environment, capacity has increased for political risks, trade risks political, trade risks commercial and non-trade insurance, the broker said.

Losses were led by Hurricane Ida and Storm Bernd.