AJ Gallagher acquires Execution Re gaining ILW, cat bond, parametric experience

by Artemis on December 6, 2012

Arthur J. Gallagher & Co., one of the larger insurance brokerage firms in the world, has acquired a team with capabilities in the capital markets and convergence sector through buying London-based reinsurance broker Execution Re. Execution Re is part of the Execution Noble group of companies and was owned by Portuguese investment bank Espirito Santo.

According to this Global Reinsurance article, Execution Re will become part of Gallagher International and will be led by Neil Strong, a Partner at Execution, and Matt Fitzgerald, Head of Reinsurance at Execution going forwards. All of Execution Re’s existing business will be transferred over to AJ Gallagher under the terms of the deal. Execution will trade as a representative of AJ Gallagher and marks their return to reinsurance broking as in 2008 they sold their reinsurance broker Gallagher Re to Aon.

The Execution Re team have a focus on a number of capital market reinsurance products including working with catastrophe bonds and insurance-linked securities both as bookrunners and structurers, finding capital and capacity for vehicles such as sidecars, structuring and broking industry loss warranties and parametric trigger insurance and reinsurance contracts. They also have experience across many lines of reinsurance business as well as mergers and acquisitions and other areas of investment banking services for the reinsurance sector. They look well positioned to help AJG establish a capital markets arm like the other major brokers have.

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