-
The broker’s performance was driven by a growth acceleration in commercial risk solutions. -
All of its insurance businesses produced underwriting profits, as Allied World and Odyssey grew GWP by 28% and 24%, respectively.
-
The insurer reported strong premium growth and average rate rises of 6.1% in its core commercial business.
-
Gallagher's brokerage business grew by 6%, while the company also said it closed 5 acquisitions in the quarter with $90mn in estimated annualized revenues.
-
Parent company BGC Partners said the broking business saw strong growth across all lines.
-
Insurance rates in the US rose 15%, while London market pricing was up 10%
-
Rates for Japanese wind treaties increased between 5% and 10% at the April renewal, while quake pricing was up 5%.
-
The carrier yesterday shook of $64mn in Uri claims to report a return to profit.
-
Net income leapt by 140% whilst margins expanded across all business segments.
-
-
The insurer reported no new above-budget weather losses in the quarter.
-
The broker’s report further strengthens the case for 2021 becoming the best expansion year for the industry in many years.
