Gallagher & Artex add alternative risk solutions to MEA offering

Insurance and reinsurance broking group Gallagher, through its captive, alternative risk transfer, insurance-linked securities (ILS) facilitation and capital solutions subsidiary, Artex, has expanded its services in the Middle East & Africa (MEA) region with the launch of alternative risk management services in the Abu Dhabi Global Market.

Gallagher launched in the MEA region in early 2022 and has established a broad client base and employs a team of specialty, facultative, and treaty risk professionals, who have experience in numerous sectors, including aerospace, construction, marine, energy, power, renewables, marine, special risks, crisis management, and financial lines.

Now, with a licence to provide alternative risk management and captive management solutions across the region, Gallagher and Artex will look to expand their services to support clients who might benefit from leveraging captives and other alternative risk transfer strategies.

With the launch of Gallagher and Artex’s alternative risk management solutions in the Abu Dhabi Global Market, additional products are now available to clients, building on its existing team of risk professionals, and ACE Gallagher, as they work to support clients’ needs across the region.

Through its partnership with ACE Gallagher, which has offices in the Kingdom of Saudi Arabia, Bahrain, United Arab Emirates, Oman, Kuwait, Lebanon, and Greece, the broker also has retail broking operations in the region.

The launch comes amid significant economic growth and diversification across various sectors in the Middle East. As firms expand and are faced with increasingly complex risks, captives and other alternative risk management services are becoming more important for some of the larger companies.

Nadim Semaan, SEO of Gallagher in the Middle East & Africa, commented, “This is a really exciting new step for Gallagher in the Middle East and Africa. Adding alternative risk solutions to the range of services we offer means clients with even the most complex portfolios can access our services and talented team dedicated to helping them. From developing a captive to assessing an existing one, to funding and creating a risk profile, Gallagher and Artex have the experience and expertise to build the necessary structures.”

“Our range of services, delivered by our alternative risk experts, spans the full cycle of the captive life from feasibility to management, to run off, and covers all types of captive arrangements. Artex also offers access to the largest network of cell companies, as well as a variety of risk-pooling services,” said Paul Eaton, CEO Artex EMEA.

While this is clearly a venture largely focused on captive and similar alternative risk solutions, a growing proportion of our readership are investors from the MEA region and there is growing interest in insurance-linked securities (ILS) across the region.

Which might be an opportune time for Artex to establish a hub there, as it will become one of only a handful of companies with deep ILS market expertise that have a presence in MEA.