AJ Gallagher

The AJ Gallagher CEO said rate increases are providing tailwinds while the M&A pipeline remains strong.

The CEO said that his company was ‘wide open’ to absorbing additional assets to satisfy regulators’ concerns.

The intermediary focuses on underwriting and placing property, casualty and errors and omissions coverage.

An executive reshuffle at Hesse & Partner will follow Gallagher’s acquisition of all remaining shares in the Swiss broker.

Panellists said that improved data around aggregations could attract new cyber reinsurance players.

James Cook, Steve Leeming and Lewis Coward move to the expansive broker, with Libby Snow also to join from AJ Gallagher.

Willis Re CEO James Kent is expected to take on the leadership of Gallagher Re following the completion of the acquisition.

The start-up broker has also won Rolls-Royce, Dassault and Embraer over the last year.

The merging brokers have also agreed a two-year non-compete agreement on transferring Willis business.

Plus the insurers on-risk for the Colonial Pipeline cyber attack and all the week’s top news.

The CEO says the transaction accelerates AJG's strategy in Europe by five years.

The $3.57bn side deal is contingent on the closing of the bigger merger, which itself needs approval from regulators including the European Commission and Department of Justice.