Gallagher launches alternative risk services in Abu Dhabi
Gallagher, through its wholly owned subsidiary Artex, has launched an alternative risk services offering in the Abu Dhabi Global Market, the international financial centre. Gallagher said the move, and range of additional solutions now available to clients, builds on its existing team of risk professionals and ACE Gallagher, supporting clients across the Middle East & Africa (MEA) region.
With a licence to provide alternative risk management and captive management services in the region, Gallagher and Artex said they can further expand their services to support clients with risk financing needs who would benefit from utilising captives and other alternative risk transfer strategies.
Having launched in the region in early 2022, Gallagher said it has built a large client base in MEA and employs a team of specialty, facultative and treaty risk professionals. The team has extensive experience in sectors including aerospace, construction, marine, energy, power, renewables, marine, special risks, crisis management and financial lines.
The firm also has retail broking operations through its joint partnership with ACE Gallagher, with offices in Kingdom of Saudi Arabia, Bahrain, United Arab Emirates, Oman, Kuwait, Lebanon and Greece.
“The Middle East has experienced significant economic growth and diversification across various sectors in recent years, with industries including energy, construction, finance, and healthcare all growing at pace. As companies expand their operations and face more complex risks, captives are an increasingly important solution for risk management strategies amongst the largest firms,” said Gallagher.
Nadim Semaan, SEO of Gallagher in the Middle East & Africa, said: “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.”
Paul Eaton, CEO Artex EMEA, added: “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.”
