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Bolding will focus on aligning Gallagher Securities with Gallagher Re. -
The carrier is likely to exceed its Q1 large-loss budget due to the California wildfires.
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Andy Taylor spent more than 25 years with the company.
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The agency cited the group’s increased earnings diversification and improved resilience.
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At 1 January renewals, prices dropped 5%-15% for loss-free programmes.
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The broker added reinsurers remain cautious on US casualty risk.
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Guy Carp CEO Dean Klisura said LA wildfires could slow rate reductions at 1 April.
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Non-proportional business accounted for 34% of its total.
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The figure does not include specie or auto losses.
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The nationwide carrier ranked sixth for multi-peril California homeowners' insurance in 2023.
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Munich Re and Berkshire Hathaway are among the major providers to large California cedants.
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The carrier also has a $500mn excess $2.4bn aggregate protection.
