AJ Gallagher

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.

Differences in business mix and definitions yield differing trajectories for brokers, but in the absence of a recession, we may see continued margin improvement.

WTW is quietly sounding out market executives for a potential relaunch into reinsurance once its two-year non-compete agreement with Gallagher Re ends in December, this publication can reveal.

Gallagher Re posted 11% organic growth in Q2, down from 12% in Q1, while RPS recorded 10%, up from 8% the previous quarter.

The Inside P&C news team runs you through the earnings results for the day.

The loss tally comes in 39% above the average for the 21st century.