Your weekly re/insurance round-up, ending 25th of October, 2024

In this week's news,?A. J. Gallagher revealed that its Q3 net earnings hit $314.1m , while?Aon’s Reinsurance Solutions reportedly generated 7% organic revenue growth in the quarter .

At the same time,?Munich Re disclosed a preliminary Q3 result of €900m despite high loss expenditure , and?W. R. Berkley saw a record net profit of $365.6m .

Elsewhere, Moody’s has suggested that reinsurers will hold firm on T&Cs at the Jan 1 renewals following hurricanes Helene and Milton , while?Heritage Insurance said it expects gross losses from the latter event to breach the third layer of its reinsurance tower .

In other developments, Lloyd's has launched a new parametric disaster resilience vehicle in partnership with UNCDF , and?Rokstone agreed to a new deal with Aviva for its D&F property portfolio .

Meanwhile, according to?Marsh’s Global Insurance Market Index, commercial insurance rates fell 1% in Q3 , marking the first quarterly decline in seven years.

As for the key appointments,?Gallagher Re named Lara Mowery as Chief Commercial Officer ?and?Travelers Europe placed Mark Clifford as Active Underwriter .

AXA XL also appointed Mathieu Daubin and Frédéric Bécard to new roles within its Speciality Lines , and?Jim Hinchley joined Markel’s Specialty division as Chief Retail Officer .

We’ll continue to update you with more coverage of the major developments from this week, while also keeping up with the regular news coming out of the re/insurance industry.

We hope all our readers stay safe and well this weekend!