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Three months ago, Starboard trimmed its stake by almost 14% to 1,925,491 shares valued at over $470mn from 2,232,209 shares at the end of Q3. -
The fac-focused reinsurance unit expects to expand into treaty over the next year and attract additional talent to boost its operations.
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Interest in distribution mechanisms such as facilities are seeing something of a resurgence in the regional SME market.
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Tom Wakefield will formally become CEO of Gallagher’s reinsurance broking unit on 1 June, reporting to EMEA CEO Simon Matson.
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Plus all the latest executive moves and the top news of the week.
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To stay relevant, intermediaries are being forced to scale up, broaden their suite of services and quantify their value.
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Cogent Andina will operate as a reinsurance broker in commercial P&C and specialty lines, including aviation.
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Following the deal, Jose Otavio Sampaio will continue as Lockton Brazil CEO while THB Brazil CEO Eduardo Lucena will become deputy CEO of the combined entity.
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The group’s recent gear shift on growth has elevated the group’s risk profile across areas including M&A, financing, integration and liquidity.
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The broking group will soon target US retail broking, as well as continuing team lifts and looking for international mega deals.
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The broker also said it grew in fac, as well as in its strategy and technology group.
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The CEO also said Gallagher Re posted a 12% organic revenue growth in Q1 amid the current hardening of the reinsurance market.
