AJ Gallagher
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Sources said the executive had a minority ownership interest believed to be around 20%-30% of the operation. -
GC’s Steve Housse and AJG’s James Elliott have resigned to join the challenger reinsurance broker.
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In the first quarter of the year, the total global economic loss for all natural hazards was estimated at $77bn.
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EMEA CEO Simon Matson said the company will announce “the optimum structure for this part of Gallagher” once it is finalized.
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Bart Zanelli will work within Gallagher Securities, specialising in capital raising and M&A.
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Inside P&C’s news team runs you through the key highlights of the week.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Incoming Gallagher Re CEO Tom Wakefield will also report to EMEA CEO Matson, who gets an expanded role.
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Global reinsurers also reported a slight deterioration of their combined ratios in 2022, with the average for the year being 95.7% compared with 94.7% in 2021.
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Inside P&C takes a deep dive into public brokers’ M&A activity in 2022 as Q4 earnings season comes to an end.
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The specialty leader had worked at recent acquisition Willis Re since 1998.
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The company is “not seeing any meaningful economic slowdown” within its data.
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