Gallagher Re, one of the world’s largest reinsurance brokers, has joined the Association of Bermuda Insurers and Reinsurers.

Gallagher Re is the global reinsurance division of Gallagher, an insurance brokerage, risk management and consulting firm with approximately 2,400 employees in 30 countries.

The firm’s history in Bermuda goes back to 1975, when Arthur J Gallagher & Co incorporated its first business on the island.

In addition to Gallagher Re, the group also serves clients on the island through a speciality insurance solutions business launched in 2024, and Artex, its alternative risk management specialist business.

Following the acquisition of Willis Re in December 2021, Gallagher Re became a leading reinsurance brokerage in the world by revenue, according to credit rating agency AM Best.

Gallagher Re offers specialities in aerospace, marine and energy, construction, property, retro property catastrophe, casualty, financial lines, life, accident and health, cyber, motor, credit and surety, mortgage and crop and agriculture reinsurance coverages.

Mark Cloutier, chairman of Abir and executive chairman of Aspen Insurance Group, said Gallagher Re brought valuable expertise and leadership as a prominent reinsurance broker and risk adviser.

“Their membership strengthens the collective voice of Bermuda’s reinsurance market, and we are pleased to welcome Gallagher Re to Abir,” he said.

Lara Mowery, chief commercial officer at Gallagher Re, said: “Bermuda is a key market for global risk solutions, and joining Abir marks an important step for Gallagher Re as we continue our growth on the island.”

Ben Radford, head of Bermuda for Gallagher Re, said: “Gallagher Re values the opportunity to engage with industry leaders and support Bermuda’s continued leadership in the global reinsurance sector.”

Gallagher Re joins fellow global brokerages Aon, Marsh McLennan/Guy Carpenter, and Lockton Re on Abir’s broker advisory cabinet, a body that allows for collaborative efforts among Bermuda’s leading reinsurers and brokers to sustain the island’s successful international reinsurance market.

John Huff, chief executive of Abir, said: “Abir member companies are global leaders in managing a broad and evolving range of risks, from natural catastrophe risk to climate, mortgage, geopolitical and cyber-risks.

“We are pleased to welcome Gallagher Re to our membership, as a valued participant in our broker community, which plays a vital role in supporting growth and innovation in Bermuda’s reinsurance market.”