Gallagher Re expands ILS, capital markets operations into Europe
Gallagher Securities, the specialist ILS and capital markets arm of reinsurance broker Gallagher Re, has received approval from the French Prudential Supervision and Resolution Authority (ACPR) and the Financial Markets Authority (AMF) to create a new European entity, Gallagher Securities Europe.
The establishment of Gallagher Securities Europe as a subsidiary of Gallagher Re’s branch in Paris - one of the broker’s largest European hubs – aims to strengthen its international presence. Gallagher said the move is in line with the “sustained and steady growth” of alternative capital in the reinsurance market.
"The launch of our approved securities entity in France is an exciting and important milestone, making us the first major reinsurance broker with a dedicated capital markets hub in continental Europe," said Alexandre Delacroix, Gallagher Re executive director and heading the international team at Gallagher Securities, who will lead Gallagher Securities Europe.
“In preparation, we have built a strong capital markets team in Paris, which will grow further as both client demand and investor appetite for alternative capital solutions increases.”
Thierry Myara, managing director of France, Belgium & Luxembourg at Gallagher Re, added: “We are pleased to have successfully responded to all of the conditions requested by the regulator and are eager to assist our clients in the Eurozone. Having a licensed securities operation here in Paris alongside our traditional reinsurance broking operation will be a tremendous asset for clients, markets and other regional partners as we work together to deliver best-in-class solutions.”
Dirk Spenner, managing director, EMEA, at Gallagher Re, commented: “This is a fantastic pan-European initiative, focused on helping clients access the most effective risk transfer solutions to support their portfolios and strategic priorities. Establishing a European hub that brings together our capital markets transaction capabilities in tandem with wider risk management, broking, analytical and advisory services will harness the full power and expertise of Gallagher Re to best meet clients’ evolving needs and deliver on their growth ambitions.”
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