Gallagher blends Big Tech & reinsurance in US with Google swoop

Global reinsurance broker  Gallagher Re has expanded its global cyber practice with the creation of a dedicated analytics function and a key hire from tech giant Google in North America, as it looks to take advantage of the fast-rising demand for risk transfer across the cyber re/insurance market.

Jasper Goring has been appointed as new head of cyber, North America. He will relocate from London to New York to build out a dedicated cyber broking and analytics function to support the rapid growth of the stateside cyber market.

The move comes as Ryan Wilkins joins Gallagher Re’s 50-strong global cyber team as a cyber reinsurance actuary based in New York to build out its dedicated cyber analytics function while working closely with Gallagher Re’s broader actuarial team in New York, and Justyna Pikinska, Gallagher Re’s head of cyber analytics in London.

Wilkins joins Gallagher Re from Google where he was an actuary in its business risk and insurance function, supporting its captive insurance company. Having previously worked as an actuary for Guy Carpenter where he lead actuarial analyses for reinsurance placements across property, casualty and professional lines, Wilkins brings specialist knowledge, technical expertise and experience from both the reinsurance broking and Big Tech industries.

Goring – who joined Gallagher Re’s dedicated cyber reinsurance team in 2018 – will continue to report into Ian Newman (pictured), global head of cyber at Gallagher Re, while becoming part of the broker’s expansive North American regional operations, led by Jim Bradshaw as CEO. Goring will lead and grow the broker’s on-the-ground cyber reinsurance specialism to enhance support for NA-based clients, look to expand cyber capacity provision and facilitate the effective deployment of capital into the cyber space to meet the fast-rising demand across all parts of the insurance value chain.

Goring said: “With growth in the cyber market seemingly relentless, and so many of the new entrants and cyber tech MGAs being based in California or here in New York, I’m excited to lead our North American investment in building a multi-disciplinary cyber function that blends the dedicated broking and analytics expertise to best support that growing client base.

“Ryan is perfectly placed to establish and expand our analytics specialism in New York, bringing a unique blend of Big Tech and reinsurance experience, and we are delighted he has chosen to join Gallagher Re at such a pivotal time in the development of cyber risk, exposure and insurance.”

Newman added: “As the fastest growing insurance class in history, the rapid rise in demand for risk transfer across the cyber (re)insurance market continues unabated. And it’s our job as a specialist reinsurance broker to continue to bring new capital to bear to meet the growing needs of our clients and support the underlying market.

“Fundamental to unlocking any form of new capital is creating a clear view of systemic tail exposure, through transparent modelling and risk quantification whether via third party models or developing our own view of risk. That’s why it is essential to embed specialist actuarial and analytics expertise into our dedicated cyber broker teams and geographic hubs around the world.”

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