The first 6 months of 2023 saw above-average natural catastrophe losses, with many of those losses the result of severe convective storms, according to multiple analyses of first-half catastrophe activity.
Tag: Gallagher
Revenues Earned Globally by MGAs, MGUs, and Coverholders Grew by Around 19%
According to an updated ranking and analysis completed by Insuramore, the value of revenues earned worldwide by MGA, MGU and coverholder groups was about $17.3 billion in 2022, signifying annual growth in this sector of around 19% before adjusting for inflation.
Willis Towers Watson Mulls Sale of Reinsurance Unit After Halting Merger
Insurance broker Willis Towers Watson PLC said on Tuesday it is weighing strategic alternatives for its reinsurance unit, Willis Re, days after a planned sale to rival Arthur J. Gallagher fell through. Willis and broker Aon PLC had planned to merge to create the world’s largest insurance broker, topping current leader Marsh & McLennan Companies… Continue reading Willis Towers Watson Mulls Sale of Reinsurance Unit After Halting Merger
Gallagher Hires Wakefield from Aon as New CEO of Gallagher Re
Gallagher, the global broking brand of Arthur J. Gallagher & Co., has announced the hire of Tom Wakefield from Aon to take on the role of Chief Executive Officer (CEO) of its reinsurance business, Gallagher Re. Wakefield will take over the Gallagher Re CEO role from Simon Behagg, who is transitioning into a new role… Continue reading Gallagher Hires Wakefield from Aon as New CEO of Gallagher Re
Arthur J. Gallagher Is in Talks to Buy Aon, Willis Assets
Insurance brokerage Arthur J. Gallagher & Co. is in talks to buy a portfolio of assets from Aon Plc and Willis Towers Watson Plc for about $3 billion, according to people familiar with the matter. An agreement could be reached in the coming weeks, said the people, who asked to not be identified because the… Continue reading Arthur J. Gallagher Is in Talks to Buy Aon, Willis Assets
Arthur J. Gallagher & Co. Acquires The Merriam Agency
Arthur J. Gallagher & Co. today announced the acquisition of Charles W. Merriam & Son, Inc., dba The Merriam Agency. Terms of the transaction were not disclosed. Founded in 1895, The Merriam Agency is a full-service insurance agency with offices in upstate N.Y. (including Schenectady) and Colorado Springs, Colo. The team offers a full range… Continue reading Arthur J. Gallagher & Co. Acquires The Merriam Agency
Arthur J. Gallagher to Buy 100% Stake in Capsicum Re
American brokerage firm Arthur J. Gallagher has signed an agreement to acquire the remaining 80% ownership stake in London-based Capsicum Re. Gallagher, which already owns 20% stake in Capsicum Re, will assume full ownership following completion of the acquisition. In 2013, Capsicum Re was founded by Grahame Chilton and Rupert Swallow as a joint venture… Continue reading Arthur J. Gallagher to Buy 100% Stake in Capsicum Re