AJ Gallagher

He will be responsible for oversight of all aspects of the practice and leading the firm's growth in the market.

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Eastern Insurance Group, a wholly owned subsidiary of Eastern Bankshares, is the third largest bank-affiliated insurance brokerage in the US, according to the company’s announcement.

Most of the broker’s clients have incurred losses below or about equal to ceded premiums and only one with losses exceeding ceded premiums.

The impact of the Hawaii wildfires on the wholesaler’s Q3 contingents is anticipated to be between $2mn to $4mn.

The executive will move to the (re)insurer after almost two years at Gallagher Re, a company he joined after the acquisition of Willis Re in late 2021.

The repercussions of the war between Russia and Ukraine continue to affect several countries, including Egypt and Somalia, as a result of grain-supply interruptions.

The latest loss estimate is little changed from those in the reinsurance broker’s pre-landfall report Tuesday and aligns with estimates from Moody’s RMS pegging Idalia as a $6.3bn loss event.

The appointment confirms this publication's report earlier this week that former Howden treaty specialists Posada and Ivan Monroy are joining Gallagher’s regional unit.

The role was originally slated to be taken on by now retired James Kent, former CEO of Gallagher Re.

The question of how to finance the private brokers no longer begins and ends with a PE flip.

Gallagher Re's latest Global InsurTech report has shown that Q2 funding dropped below $1bn to the lowest quarterly investment level in three years.