AJ Gallagher
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Gallagher expects "little impact" from the FTC’s non-compete ban on the firm’s M&A strategy.
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The Insurance Insider US news team runs you through the earnings results for the day.
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US SCS accounted for nearly $11bn in global insured losses.
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Insured loss for Q1 was 10% higher than the decadal average of $18bn.
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The broker attributed increased capacity to improving profitability.
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The market remains “delicately balanced” amid global conflicts and claims deterioration.
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Reinsurers have a "strong desire" for growth, but not at the expense of underwriting.
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Negotiations around US casualty and financial lines were more stressed.
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There is more capacity in the market for long-term risks.
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Concerns around casualty rate adequacy are growing, the executive said.
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The talks are advanced, and the process is likely to move rapidly.
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Driscoll and Lubert have been promoted to presidents.
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Insurance Insider US examines public brokers’ 2023 M&A.
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The vulnerability updates are the biggest driver of loss changes.
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The 1 January treaty renewal was “far more orderly”.
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The recruits join from Ardonagh, Guy Carpenter, Howden and Miller.
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According to its 2023 10-K, Gallagher spent $3.74bn on M&A activity.
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The probe concluded in Q4 last year, according to Gallagher’s 10-K.
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Justin Ward will lead the firm’s production efforts in the expanding MGA market.
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In Q3, RPS recorded 7% organic growth, marking a deceleration from 10% in Q2 and 8% in Q1.
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The Insurance Insider US news team runs you through the earnings results for the day.
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A deal would mark Amwins’ second LatAm sale, after this publication revealed that Lockton acquired THB Brazil last May.
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2023 was the fourth consecutive year insured cat losses surpassed $100bn.
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Based in Brazil, the executive also has prior experience at Liberty Seguros, where he was regional manager, and Chubb, where he was LatAm surety underwriting manager.
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This follows a challenging period for business last year.
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The new team is one of several the broker has set up in the past 18 months.
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Some reinsurers could be heading into 2024 with spare capacity, the reinsurance leader said.
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The broker said over-placement on some deals was a positive sign for brokers, though reinsurance capacity is still very tight in some areas.
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Kevin Doyle joined RPS over five years ago as VP for the Western region, and in 2021 he was promoted to P&C Chicago area president.
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The Insurance Insider US news team runs you through some of the key M&A intelligence from the past week.
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Hansen’s role will be effective after a transition period with departing COO Chris Brook.
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Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
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The broker said dynamics were dependent on full-year results, after years of poor returns.
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The senior retro/specialty broker spent 26 years at Willis Re, which was acquired by Gallagher in 2021.
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Broker and commercial carrier trends separate as inflation slows but rates stay elevated.
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