Gallagher Launch Specialty Insurance Business
Gallagher launched a new specialty insurance business in Bermuda, and has appointed Jasmine DeSilva as Managing Director of the new business.
A spokesperson said, “Gallagher has launched a new business in Bermuda to support clients across the region with their specialty insurance solutions.
“Gallagher already has a significant client base in Bermuda, along with treaty reinsurance operations and its alternative risk management specialist business, Artex. The creation of a specialty offering locally enables the firm to further expand and maximise the growth opportunities available. The team will offer clients insurance and risk management expertise across financial lines, construction, energy, marine and property & casualty.
“Bermuda is well established as a regional insurance hub and $268 billion in premium is placed from firms operating from the island on an annual basis [i].
“Gallagher has appointed Jasmine DeSilva as Managing Director of the new business. Jasmine is Bermudian and since 2021 she has been Commercial Director for Artex Capital Solutions, based on the island. In this role, she was instrumental in leading efforts to identify and secure new business opportunities, and during her tenure she has significantly increased market share and revenue. She oversaw a comprehensive overhaul of the company’s customer experience initiatives, resulting in improved client satisfaction and loyalty on a global scale.
“Prior to this, Jasmine was the Business Development Manager for risk and insurance solutions at the Bermuda Business Development Agency. She also spent 13 years as a casualty underwriter at Sompo Insurance, managing a significant portfolio of Fortune 500 accounts. Her industry recognition includes being named an “Unsung Hero” and “Woman in Hamilton” in 2023 by Bermuda Re and ILS. She will report to Malcolm Payton, CEO, Property & Casualty Insurance Solutions and Head of Global Fac at Gallagher Specialty.”
Commenting on the launch, Mr Payton said, “Bermuda is known as the one of the world’s risk capitals and is an important insurance hub. Well-regulated, experienced and capital efficient, the island has a high level of insurance expertise based locally providing advice on complex risks.
“Jasmine has a proven track record within the wider Gallagher business, and we are thrilled that she is joining to run our specialty operations in Bermuda. We have a team of four supporting Jasmine locally, which we are looking to grow as we expand our client base.”
Ms DeSilva added, “I am delighted to be taking the helm of Gallagher’s new business in Bermuda. Having been operating in the Bermuda insurance market for the last 17 years, I am very familiar with the challenges and opportunities for businesses in the region. The launch of our business in Bermuda, and establishing a Gallagher team on-the-ground, really opens up the availability of insurance options for regional and multinational clients. Given our nimble approach plus Gallagher’s entrepreneurial culture and focus on client service, I believe our proposition of providing bespoke and diverse solutions sets us up for success.
“I am extremely pleased with the level of talent we have already recruited, and we are planning to further expand the team in the coming months, all of whom will play an important role in our growth journey.”
