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!