Gallagher Insurance Solutions rolled into retail division as Pen and OIM merge
Arthur J Gallagher has simplified itsUK structure by creating single divisions for retail broking and underwriting.
Gallagher Insurance Solutions (GIS), which handles personal lines, private client and small commercial broking, will become part of the UK retail division. This brings together all Gallagher’s UK commercial and personal lines broking teams into one division.
GIS head martin Oliver will join the UK retail executive team and report to new UK retail chief executive Stuart Reid when he joins Gallagher later this year.
At the same time, Gallagher will merge its two underwriting divisions, OIM Underwriting and Pen Underwriting, into one unit. OIM is Gallagher’s delegated authority managing general underwriting business, while Pen is the managing general agency division.
The combined underwriting division will be headed by Mark Armitage, who will become managing director of underwriting and join Gallagher International’s executive committee, subject to regulatory approval.
Gallagher International chief executive Grahame Chilton (pictured) said: “When I took on the role as CEO, I made a commitment to get to know this business before making any changes — so we could determine the right structure, with the right people, to drive the business forward and better support our customers.
“A clear early priority was to ensure we were correctly and optimally positioned from an operational standpoint, and that our broking and underwriting disciplines were conflict-free, to best facilitate growth.
“The huge potential to cross-sell effectively between our commercial and personal lines broking operations was hampered by these businesses sitting in different operational units.
“Similarly, the fantastic opportunity in underwriting to develop and grow our capabilities lacked the joined-up, cohesive structure that would best empower the team to deliver on their potential. Under Mark’s proven leadership, I know the team will achieve just that.”
He added: “These operational changes create a clear demarcation between our retail broking and underwriting divisions, align business units with their natural partners and ultimately make it easier to do business with us for customers, brokers, coverholders and insurer partners alike.”