Artex has launched alternative risk and captive management solutions in the Abu Dhabi Global Market (ADGM), in partnership with Gallagher. This new development and range of solutions allows Artex and Gallagher to further expand their services to support clients in the Middle East & Africa (MEA) region.
The Middle East has experienced significant economic growth and diversification across various sectors in recent years with industries including energy, construction, finance and healthcare all growing at pace.
Paul Eaton, CEO Artex EMEA, said: "We are excited to expand our global Artex footprint by offering alternative risk and captive management services in ADGM. As companies expand their operations and face more complex risks, captives and other alternative risk transfer strategies are an increasingly important solution for the largest firms. Partnering with Gallagher's existing team of professionals in the region provides a strong foundation for this new offering."
Having launched in the region in early 2022, Gallagher has built a large client base in MEA and employs a team of specialty, facultative and treaty risk professionals. The team has extensive experience in sectors including aerospace, construction, marine, energy, power, renewables, special risks, crisis management and financial lines.
The firm also has retail broking operations through its joint partnership with ACE Gallagher, a pioneer in the MEA regional insurance industry, with roots dating back to 1952 and offices in Kingdom of Saudi Arabia, Bahrain, United Arab Emirates, Oman, Kuwait, Lebanon and Greece.
Nadim Semaan, SEO of Gallagher in the Middle East & Africa, said: "This is a really exciting new step for Gallagher in the Middle East and Africa. Adding alternative risk solutions to the range of services we offer means clients with even the most complex portfolios can access our services and talented team dedicated to helping them. From developing a captive to assessing an existing one, to funding and creating a risk profile, Gallagher and Artex have the experience and expertise to build the necessary structures."
About Artex
Artex, Gallagher's wholly owned subsidiary for alternative risk and capital, including fund administration, is a trusted leader and provider of diverse alternative risk and capital solutions. Established in more than 35 domiciles internationally, our global team provides creative thinking and deep expertise for our clients in the (re)insurance and alternative capital marketplace. We're here to help you find a better way to reduce your total cost of risk and improve your return on capital.