AJ Gallagher

The executive will be charged with unifying carrier engagement and bringing together Gallagher’s offerings.

The appointments aim to provide clients with a product-agnostic view on accessing capital in a capacity-constrained market.

The acquisitive broker booked $35.6mn of cash paid in the deal, along with a $106.9mn earnout payable, according to its 2022 10-K filed today with the SEC.

Based in Stamford, Connecticut, she will work to align Gallagher Re’s extensive resources with the needs of MGAs.

For InsurTechs, the most significant feature of 2022 is that the narrative around ‘disruption’ seems to be “truly over”, Gallagher Re said.

The intermediary tallied $360bn in economic losses worldwide.

Need to Know

The CEO also heralded the group’s “best full-year brokerage segment organic performance in decades”, with a figure of 9.7%.

Gallagher’s adjusted earnings per share climbed 18.5% to $1.54, beating analysts’ consensus of $1.49 earnings per share in Q4.

Aviation insurers are still facing uncertainty moving into 2023, with a slew of legal cases, and large losses from the previous quarters looming above them.

Claims were widespread in the class of business during 2022, with almost all areas warranted claimed against.

Although 2022 was on balance, a good year, macro-economic issues such as a slowing economy, falling employment, and loss cost reversion could create an overhang for 2023.