Building a bigger, smarter broker: Gallagher’s UK CEO

Real growth isn’t about deal volume — it’s about what happens after the deal. That’s the view of Gallagher UK CEO Michael Rea, who spoke to AIRMIC Today about the broker’s expansion strategy amid rising global uncertainty and complex, evolving risks. “The biggest concern at a macro level is uncertainty,” Rea said, emphasising that previously businesses thrived on clarity to plan and invest. 

For Rea, despite political stability in the UK, worries persist: “We’ve got reasonable certainty now, with a government in place for the next four years. “But the challenge is delivering policies that facilitate growth in a low-growth economy.”

Gallagher’s clients grapple with a wide spectrum of risks, including data security and the consequences of geopolitical conflict. “Data security remains a live issue,” Rea noted, highlighting its growing prominence as businesses digitise and adopt AI. 

“For directors, navigating new technology is quite challenging,” he added. “Increasingly, boards of directors are looking to firms such as ours to understand the risk to their business.”

Meanwhile, global conflicts add layers of complexity, especially for companies reliant on international supply chains. 

Rea outlined Gallagher’s twin engines of growth: organic expansion and strategic acquisitions. “Growing our business organically is about staying close to clients, listening to their needs, and ensuring we have solutions for every insurance requirement,” he said 

“Buying businesses is easy; integrating them is the secret sauce.” 

Holding on to hardworking good talent

Gallagher has increasingly adopted a risk advisory role, adding value beyond traditional broking.

On the acquisitions front, he is clear: “Buying businesses is easy; integrating them is the secret sauce.” Gallagher’s strategy involves cultural alignment, transparency with acquisition targets and delivering on promises. 

Rea pointed to the Assured Partners acquisition, expected to close this year, as a transformative move. “It’s a scale business with about $170m in revenue and 850 colleagues in the UK alone. For our UK operations, it’s a significant addition.”

Integration remains a meticulous process, however, and Rea strongly believes employees are at the core of Gallagher’s success. “At the back end, it’s about creating a solid, unified platform,” he explained. “So we want to equip people at the front end with better tools, more products and support.” 

Rea is committed both to retention and recruitment. “Our first priority is holding on to the talent we have,” he stated, noting how career development lay at the core of Gallagher’s strategy.

With graduate schemes, apprenticeships and internal promotions ensuring a robust talent pipeline, Gallagher’s story is “one of growth, offering limitless opportunities”.

Data as a differentiator

Gallagher's approach to client engagement hinges on leveraging data and expertise. “Data is the currency of the future,” Rea asserted, explaining how the company used its extensive ‘lake of data’ to provide actionable insights tailored to sectors and clients. 

“Data is only useful if you do something with it,” he added, emphasising its role in delivering value. “Clients are looking for professionals who can demonstrate real insight into their sectors.” 

Expertise – especially in the middle market and upwards – is what sets Gallagher apart, according to Rea.

As for the brokers, he believes they need to become “trusted advisers, moving beyond placement to risk prevention”, and that this support should span supply chains, cash flow and data security. “We facilitate discussions that mitigate risks our clients face daily,” he said, noting how brokers were integral to boardroom conversations, collaborating with risk managers and insurers.

A favourable time for clients

Innovation, often driven by data, is a cornerstone of this role. “Clients want fresh ideas and solutions informed by data rather than intuition,” Rea asserted.

Boards are under heightened scrutiny, particularly around ESG (environmental, social, and governance) commitments and AI adoption. “AI is a business efficiency tool, but it also poses risks,” Rea cautioned. 

Understanding AI’s implications and integrating its use into the risk framework is crucial, yet Rea warned: “We need to deploy the technology thoughtfully to avoid improper advice or use.”

Turning to the market, he described it as favourable for buyers: “Balance sheets are strong and insurers are showing greater appetite for risk,” he said. With increased choice and competitive pricing, Rea believes it’s a positive time for clients. “After a tough post-Covid period, the market has shifted in buyers’ favour.”

Reflecting on Gallagher’s trajectory, Rea reiterated how integration was the cornerstone of the company’s growth. “We’re committed to ensuring our acquisitions deliver real value – enhancing tools, expertise and client conversations,” he concluded.

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