AJ Gallagher

Frontier’s employees, including director and co-founder Peter Brodsky and CEO Derek Winch, will remain in their current roles.

The broker’s half-year 2023 report said reinsurers’ RoE has surpassed the cost of capital for second year running.

The latest loss estimate is little changed from those in the reinsurance broker’s pre-landfall report Tuesday and aligns with estimates from Moody’s RMS pegging Idalia as a $6.3bn loss event.

Loss estimates from Aon, Gallagher Re, Swiss Re and Munich Re all point to a significant component of severe convective storm losses.

WTW is quietly sounding out market executives for a potential relaunch into reinsurance once its two-year non-compete agreement with Gallagher Re ends in December, this publication can reveal.

The loss tally comes in 39% above the average for the 21st century.

The firm’s 1st View report on the July renewals also flagged that an oversupply of ILW capacity may bring down attachment points relative to early 2023.

The AJ Gallagher-owned ILS services provider is expanding its footprint globally.

The risk-modelling expert has served at RMS for almost 19 years after joining as a graduate trainee.

In the first quarter of the year, the total global economic loss for all natural hazards was estimated at $77bn.

Gallagher Re is now lead and sole broker for ARC, the Caribbean Catastrophe Risk Insurance Facility SPC (CCRIF SPC) and the Pacific Catastrophe Risk Insurance Company (PCRIC).

Bart Zanelli will work within Gallagher Securities, specialising in capital raising and M&A.