Reinsurance
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The Lloyd’s syndicate was one of just a couple of reinsurance start-ups in the current hard market. -
The take-private deal was announced in July 2024.
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The broker’s fac reinsurance division will encompass around 70 staff, it is understood.
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The new chair said the market must adapt for 2030 and beyond.
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The changes affect operations in Switzerland, Bermuda and the US.
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Separately, Caribbean market head Janine Seifert is leaving the reinsurer for BMS Re.
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The managing agency is offering 62p per £1 for 2026 YoA capacity.
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Gallagher Re’s Lara Mowery said mid-year renewals marked the “beginnings of capacity” emerging.
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Cedants were able to “challenge the status quo” with aggregates back on the table, the broker said.
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The executive told this publication he will have more time “to propel” embedded auto MGA In The Car.
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The company said the reduction was due to years of steady improvements.
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The programme’s total limit this year is down $594mn to $1.36bn.
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