The London political, project and credit risks department of insurance broker Arthur J Gallagher has completed its recruitment drive for now, with the arrival recently of three specialists. Kit Brownlees, David Maule and David Evans are now at the brokerage, the world’s fourth biggest in insurance, building upon the company’s existing business base.
Brownlees, an executive director, joined in August 2003 from SBJ Ltd, while Maule and Evans took to their desks in January, having been at Aon in London beforehand (see GTR, Sep/Oct 2003, p4). Brownlees was also at Aon before SBJ, where he was managing director and then chairman of the political risk division.
The new faces, who are appointed as divisional directors, join existing team members, executive director Daniel Oades, divisional director Andrew van den Born and assistant director Matthew Solley. With a spread of different backgrounds and experience, says Brownlees, the team can offer all areas of political, project and credit risk cover – a ‘one-stop’ offering.
“We can place the larger projects as well as the traditional shorter-term export and trade contracts,” says Brownlees. “We have a particular strength in the power sector and hopefully this year projects will be coming back to the market.”
Oades adds: “We are also looking at instances where clients are purchasing existing assets. We have telecoms and mining clients too. I think the market is just beginning to turn now. Some players are back in at 10-15 years cover. Whether it is trade or project finance, tenors are creeping back up. We are seeing a fair amount in Asia and Africa. In fact, everywhere really is on the up.”
The primary focus of the team is to produce wholesale business out of the US and retail and wholesale business from the rest of the world. London is the company’s biggest office outside the headquarters in Chicago, with 350 staff members.
Arthur J Gallagher is quoted on the New York Stock Exchange.