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The broker said US property cat reinsurance rates increased by 40% to 60% in April for clean renewals. -
The broking CEO set out the London wholesaler’s growth strategy a year on from the AUB takeover announcement.
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The cross-line facility launch – in a generally firm market – suggests that the tech-driven era of facilitisation is continuing to gain pace.
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The facility will be the largest to launch since Aon Client Treaty in 2016.
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EMEA CEO Simon Matson said the company will announce “the optimum structure for this part of Gallagher” once it is finalized.
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The broker said competitive conditions made it an “optimal time” for insurance buyers.
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Apollo plans to deploy meaningful lead capacity through the consortium which will be led by Syndicate 1971, as revealed by Insurance Insider.
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The move follows predecessor Massimo Reina’s defection along with 25+ colleagues to expansive rival Howden Tiger.
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The wholesaler had already paid out a cumulative $2.1bn of dividends to investors since 2018.
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Five years on from “Project Thunderbolt”, we assess the progress of the start-up challenger broker.
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The executive joins Lockton Re after almost 11 years at Aon Benfield, where he was treaty broker based in Chile.
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Incoming Gallagher Re CEO Tom Wakefield will also report to EMEA CEO Matson, who gets an expanded role.
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