AJ Gallagher

The executive said many reinsurers have secured the pricing and terms necessary to cover their cost of capital.

Political violence renewals have been especially demanding, the broker said.

The broker said a dearth of IPOs had created a “buoyant environment”, with both start-ups and incumbents competing.

Inflation, rising reinsurance costs and rebounding shipping activity all pose challenges for the market.

With a cash consideration of $170mn and approximately $22.5mn of potential earnout obligation, the M&T deal is likely Gallagher’s largest since Willis Re.

The broker said rate rises on IG reinsurance could be up to 10% following the impact of Hurricane Ian.

The Q3 settlement gain of $35mn net of litigation costs and taxes will be recognized in Q4, SEC filings show.

The US DoJ is seeking information related to Gallagher's insurance business with public entities in Ecuador.

The latest Gallagher Re InsurTech study shows that, beyond the biggest funding rounds in Q3, investment fell to its lowest level since early 2020.

Discussion on Q3 earnings calls focused heavily on the supply-demand imbalance in cat capacity, as executives discussed how they would navigate a challenging January renewal.

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