20 October 2014Actuarial & underwriting

AJG Re joins forces with Capsicum Re

Arthur J. Gallagher’s reinsurance broking team has made a move to partner with Grahame Chilton’s Capsicum Re endeavour.

Capsicum Re will now conduct all current and future treaty reinsurance business which was previously managed by Gallagher, via its new partnership with AJG Re.

The entire 14-person AJG Re team will continue to be led by managing director Matt Fitzgerald.

Fitzgerald and his team moved to AJG in 2012 from Execution Re, then part of Espirito Santo Investment Bank, specialising in a number of business classes including property, specialty, marine and energy and casualty.

Fitzgerald said: "This is an exciting development for our team and allows us to combine the influence and market presence of our US parent, Arthur J Gallagher, with the dynamic and entrepreneurial vision of Capsicum Re.

"It has been a seamless transition and we look forward to working with Chily to enhance our reinsurance capabilities and continue to provide our clients with the best possible service in the market."

Chilton, CEO of Capsicum Re, added: "This is a great move forward for Capsicum Re and consolidates our position as Gallagher's primary treaty reinsurance outlet. Matt and his team have a fantastic book of business and strong relationships with their customers.

"Their knowledge of both traditional reinsurance and their capital market capabilities explains why they are highly regarded in the industry."