11 July 2016Bermuda analysis

Artex positions itself for growth in alternative risk market

Artex, a provider of captive solutions and subsidiary of Arthur J Gallagher, has positioned itself for growth in the alternative risk market by updating its logo and brand platform.

After significant growth in the past two years, Artex now has nearly 400 staff operating out of more than 15 global locations managing over 1,000 risk bearing entities in 30 captive insurance domiciles.

With offices in Arizona, Bermuda, Grand Cayman, Hawaii, Vermont, Guernsey, Malta and Gibraltar, Artex has further added operations in several European locations and strengthened their presence within Bermuda and Cayman markets.

In the captive industry, Artex has expanded into emerging alternative risk fields such as pension longevity and benefit captives as well as the insurance-linked security arena.

David McManus, president and chief executive officer (CEO) of Artex, said: “We felt that such rapid growth and attendant change created a perfect point in time to take a really deep dive into understanding exactly what Artex had become.

“With the help of external consultants we conducted literally hundreds of interviews with both current and former clients, staff, brokers and other intermediaries, insurance carriers, capital markets, regulators, media – anyone who had a perspective on what we did and how we do it.

“What was emphatically revealed is that Artex is a solutions company resourced with teams of people who are driven to gain a deeper understanding of client challenges and opportunities so that they can deliver solutions borne from truly independent thought.”

Nick Heys, CEO of Artex International, added: “I think about the quote from Stephen Covey, ‘seek first to understand, then to be understood’. Our goal is to understand the client, the broker, the environment, the industry, the challenge and opportunity – everything in its entirety. Through this greater understanding we are able to offer our expertise, redefining the way risk is managed which allows our clients to achieve superior outcomes.”

Jennifer Gallagher, president of Artex North America, commented: “Conventional thought generates conventional results. When we work with our clients and our broker partners, we’re committed to delivering more than that to them.

“We have a legacy of innovation at Artex, generated over the past 19 years of being in business. We pride ourselves on acting independently of industry norms, products and influence – and creating our own paths to success.”