Gallagher Re anticipates low-teens organic growth in Q2 2024, driven by sustained reinsurer discipline and rising aggregate demand heading into a potentially active hurricane season. According to the company’s President, Thomas J. Gallagher, property pricing is slightly down, but capacity is available for higher reinsurance layers and more stable capacity for lower layers. The firm expects casualty rate increases to accelerate, reflecting worsening social inflation, rising medical expenses, and litigation financing. Meanwhile, moderating property rate increases are expected as reinsurers approach rate adequacy.
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