AJ Gallagher
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The MGA can also offer cargo war risk coverage of up to $100mn.
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The former Nephila director joined the broker last year.
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Insured loss for Q1 was 10% higher than the decadal average of $18bn.
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Curtin has spent almost 50 years in the market with stints at Marsh and Sedgwick.
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The broker attributed increased capacity to improving profitability.
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The market remains “delicately balanced” amid global conflicts and claims deterioration.
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Reinsurers have a "strong desire" for growth, but not at the expense of underwriting.
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Negotiations around US casualty and financial lines were more stressed.
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Rates continue to trend downwards in the D&O class of business.
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A total of 30 carriers entered the US public company D&O space in 2023.
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There is more capacity in the market for long-term risks.
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The talks are advanced, and the process is likely to move rapidly.
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The findings have implications for businesses and D&O.
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The 1 January treaty renewal was “far more orderly”.
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Tim Bluck joins as a partner, covering UK clients.
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The recruits join from Ardonagh, Guy Carpenter, Howden and Miller.
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According to its 2023 10-K, Gallagher spent $3.74bn on M&A activity.
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The probe concluded in Q4 last year, according to Gallagher’s 10-K.
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Ditte Deschars will be moving into the chairperson role for EMEA.
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The broker made a number of energy hires from Price Forbes and Miller last year.
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Funding dropped from $8bn in 2022 to $4.5bn in 2023, a 43.7% decrease.
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Convective storms cost more than ever, but activity was not exceptional.
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Spenner will succeed Tony Melia, who is retiring later this year.
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Total brokerage revenue was up 20.4% year on year.
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A deal would mark Amwins’ second LatAm sale, after this publication revealed that Lockton acquired THB Brazil last May.
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2023 was the fourth consecutive year insured cat losses surpassed $100bn.
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Siemens Gamesa is one of the world’s leading renewable energy manufacturing companies.
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This follows a challenging period for business last year.
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The executive has spent 20 years in the industry.
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The new team is one of several the broker has set up in the past 18 months.
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The incoming executive previously spent 17 years at AIG, most recently as head of financial lines for MENA.
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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.
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Some reinsurers could be heading into 2024 with spare capacity, the reinsurance leader said.
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The broker said over-placement on some deals was a positive sign for brokers, though reinsurance capacity is still very tight in some areas.
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The executive joined Gallagher in 2015 as COO of its international division.
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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.
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Other early users include Amwins, Aon, BMS Group, Consilium and Costero.
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Business lines offered include P&C, marine, construction, cyber, trade credit, financial lines, and energy plus employee benefits services.
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Hansen’s role will be effective after a transition period with departing COO Chris Brook.
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The box is expected to be manned by Pen's team of specialist marine underwriters.
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Martin Ford joins the broker following a 26-year-stint at Gallagher Re, formerly Willis Re.
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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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