AJ Gallagher
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Sources said Guy Carpenter has promoted Jennifer Paretchan to succeed Mowery. -
The peril can no longer be considered secondary, according to Gallagher Re.
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Debby should be a “very manageable” storm for the (re)insurance market, it said.
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Chief science officer Steve Bowen said it was still too early to provide precise insured-loss estimates.
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The broker estimated ILS capacity reached a record $107bn as cat bond interest surged.
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The broker said it did not anticipate a slew of new entrants, with the possible exception of casualty start-ups.
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ILS capital so far is viewed by sponsors as strategic rather than essential.
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Sources said that Gallagher Re had ‘first mover’ advantage as the exclusive broker.
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Torrential rain caused flash floods in the Gulf States in the middle of April.
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The cat bond will provide coverage across multiple territories in Europe.
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The second part of the PoleStar Re issuance takes the bond's total volume to $300mn.
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Diversification in perils and regions can help the market grow.
