AJ Gallagher

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.

The real test for cat capacity will come at the mid-year point, according to Gallagher Re.

Global reinsurers also reported a slight deterioration of their combined ratios in 2022, with the average for the year being 95.7% compared with 94.7% in 2021.

The specialty leader had worked at recent acquisition Willis Re since 1998.

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

Bay Risk will become part of Gallagher Re’s Global Programmes practice group, led by Andrew Moss.

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

The intermediary tallied $360bn in economic losses worldwide.

She had served as director of underwriting at Nephila since mid-2018.