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The Gallagher Re executive called on the market to “prepare to grow sustainably together”. -
The facility now includes CyXS Plus and CyXS Company.
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James Barrett has been interim head of cyber since October 2024.
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Sources said extending coverage to Gen AI may be difficult and unnecessary.
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The combined ratio improved by 3.2 points, from 80.9% in 2023 to 77.7% in 2024.
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Ethan Godlieb will be leading cyber, tech and fintech for the broker.
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Reinsurance and property remained the primary drivers of premium growth.
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Cyber, marine and aviation are recent areas of focus.
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The broker has launched a company market section of the facility called Encore.
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The property and specialty insurer reported underwriting profits of $131mn ($170mn).
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The product provides primary and excess coverage limits up to £5mn.
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Predicting underwriting conditions for the remainder of the year is ‘challenging’.
