After spending a decade developing FirstCity’s political risk practice, Mark Gubbins is heading up a new political risk team that will join insurance broker Arthur J Gallagher.
The team will be responsible for a wide range of risk insurance, with a particular emphasis on the mining, oil and gas sectors, multinational corporations, international trade finance and sabotage, terrorism, political violence and war risk insurances.
Gubbins and his team will join Gallagher’s existing political, project and credit risk team, led by Kit Brownlees, managing director at the insurance firm.
This comes as part of the firm’s acquisition of Lloyd’s broker, FirstCity and after the acquisition of a trade credit team from insurance brokers Rattner McKenzie last October.
Speaking to GTR, Gubbins remarks: “My partners and I are delighted to be joining forces with the Gallagher London political, project and credit risks practice and look forward to working alongside Kit Brownlees and his team of respected market practitioners.
“We have known and respected each other for many years and bring together an impressive group of seasoned professionals with proven expertise in the specialist areas in which we operate to the greater benefit of all our clients. The combination of our two teams is particularly complimentary in both expertise and the geographic spread of our client base.
Gubbins is confident about the future, he adds: “Together we believe that we can continue to grow our combined business, both in the London market and internationally, to become a dominant force in the specialised fields of political risks insurance, trade credit insurance and sabotage, terrorism, political violence and war risks insurances in which we operate.”
Brownlees adds:”Mark and his team bring additional strengths and clients to us and complement very well our ever-growing strength in the field.”