AJ Gallagher

The firm adjusted 2022 projected revenues for the acquired Willis Re book down by $10mn from its 2020 figures due to forex and Ukraine changes.

The broker has distributed top jobs among former Willis Re and legacy Gallagher Re staff.

RPS also said it separately that it launched a real estate appraiser E&O product.

An internal announcement from James Kent reveals the first outlines of what the future will look like for the #3 reinsurance broker.

The acquisition of Willis Re last year transformed Gallagher into a top-three reinsurance player.

Sources told this publication Tom Draper would become head of insurance at the expansive MGA’s European operation.

Despite an increased risk environment, capacity has increased for political risks, trade risks political, trade risks commercial and non-trade insurance, the broker said.

The protracted firming phase of the cycle continues, with E&S firmer than the admitted market.

The two brokers reported quarterly earnings and were optimistic about the coming year.

CFO Douglas Howell told analysts that the giant broker currently has $4bn to spend on M&A opportunities over the next four years.

The consolidated organic growth number was Gallagher’s best of the year, and a sharp increase from its 2.6% growth level a year ago.

Hvidsten had worked at Willis Re since 1997, before it was bought by Gallagher, and will continue to serve as a consultant to the firm.