Gallagher Re has launched a dedicated captives risk transfer team within its global facultative business.

The new team will provide tailored facultative and structured reinsurance solutions across a wide range of captive sizes and complexities, drawing on Gallagher Re’s analytics and structuring capabilities in North America and international markets.

Martin Hughes has been appointed executive vice-president, captives, effective January 1. He joins from Artex, where he led the speciality risk transfer division for the past five years and worked in partnership with Gallagher Re.

Artex has a major presence in Bermuda, and the new team is expected to work closely with the firm as part of Gallagher’s broader captive and reinsurance platform.

Joshua Cryer has also joined Gallagher Re as divisional director, captives. He previously held senior roles at Willis Towers Watson, Virgin Atlantic and The Hut Group plc.

The captives risk transfer team will sit within Gallagher Re’s global facultative platform and collaborate with colleagues across treaty reinsurance, Artex and the firm’s retail and speciality businesses.

Pablo Muñoz, chief executive of facultative at Gallagher Re, said the launch would broaden access to global capital for captive owners.

“The new team will connect captive owners with both traditional and alternative sources of global capital, unlocking opportunities beyond the reach of most captives,” Mr Muñoz said.

He added that Mr Hughes and Mr Cryer bring “deep expertise in risk management, insurance strategy and captive solutions” to the expanded offering.