The dedicated capital of the global reinsurance industry increased 12% year-on-year to $729 billion in 2023, driven by improved profitability in the year, according to Gallagher Re’s latest Reinsurance Market Report.
Tag: Gallagher Re
Gallagher Re: Buyers Able to Access Increased Reinsurance Capacity at April 1 Renewals
The FY2023 reporting season concluded in Q1 and saw many companies reporting some of the best reinsurance underwriting conditions in over 20 years, according to Gallagher Re.
Gallagher Re Names Flasinski CEO of NA Region, Bradshaw Assumes Chairman Role
Reinsurance broker Gallagher Re has appointed Brian Flasinski as Chief Executive Officer of the North American region, succeeding Jim Bradshaw who is set to assume the role of Chairman, Gallagher Re North America.
Spike in AM Best Downgrades Shows Challenges for U.S. Insurers
Gallagher Re’s comprehensive analysis focuses on key highlights regarding AM Best rating changes in the US and the financial thresholds associated with the changes.
U.S. Regional Property Catastrophe Coverage Remains Healthy Ahead of Jan 1: Gallagher Re
Following a costly 2023 severe convective storm season, Gallagher Re’s Josh Knapp, Executive Vice President, Broking, National, has noted that reinsurers are proving less willing to provide aggregate covers for regional property cat risk, though their overall appetite “remains healthy.”
Preliminary H1 Insured Losses at $52 Billion: Gallagher Re
The cost of natural catastrophe losses in H1 2023, according to Gallagher Re, covered by private insurance or public insurance entities tallied $52B.
U.S. Property Catastrophe Reinsurance Rates Rise Up to 50% on July 1: Report
U.S. property catastrophe reinsurance rates rose by as much as 50% at a key July 1 renewal date, broker Gallagher Re said in a report on Monday, with states such as California and Florida increasingly hit by wildfires and hurricanes.
Global Insurtech Funding Rises by 37.6% in Q1 2023: Gallagher Re
According to Gallagher Re’s latest Global InsurTech Report, insurtech funding rebounded strongly in the first quarter of 2023, with global investments reaching $1.39 billion.
Gallagher Re Pegs 2022’s Insured Nat Cat Losses at $140B
Reinsurance broker Gallagher Re has published its view of 2022’s global natural catastrophe activity and it estimates insured losses from these events aggregate to a cost of $140 billion for the industry.
Gallagher Re’s 1st View on Reinsurance Market
Gallagher Re delivers the very first view on current market conditions within the reinsurance industry for January 1 renewals.