New name to better reflect independence of client base and evolving nature of alternative capacity solutions
Arthur J. Gallagher announces that its specialist Binding Authority and Facility Division will now trade as Capsicum Delegated Authority.
Capsicum Delegated Authority, which develops, delivers and manages innovative capacity solutions for MGA and coverholder customers, has a 40-strong specialist team conducting business in more than 30 countries and managing in excess of $1.5 billion of gross written premium. The new brand better reflects the standalone nature of the business as well as its approach to sourcing and securing capacity.
Capsicum Delegated Authority remains 100% owned by Arthur J. Gallagher, and is a trading name of Arthur J. Gallagher (UK) Limited.
Grahame Chilton, CEO of Arthur J. Gallagher International, said: “The pioneering nature, flexibility and total customer focus of the portfolio solutions being put together and managed by our binding authority division are second to none. The delegated authority team has a natural alignment and increasing involvement with the services and strengths of Gallagher’s reinsurance partner Capsicum Re. This made the new name an obvious choice when seeking an independent brand for our specialist delegated authorities broker.
“Both businesses pride themselves on pushing the boundaries to deliver superior outcomes for their customers; they challenge conventional thinking and create unparalleled service offerings as a result.”
Chris Hardcastle, Managing Director of Capsicum Delegated Authority, said: “Today’s delegated authority brokers need to strike new kinds of capacity deals in order to best protect portfolios of business in a fast-changing global market — and that means utilising the latest modelling, analytical and actuarial services while demonstrating real flexibility in where and how they source solutions for their customers.
“Increasingly this sees us accessing the reinsurance and alternative capital markets, to marry the benefits they bring with the proven knowledge and expertise of traditional insurer or Lloyd’s markets. Our ambition is to be the leading delegated authority broker, worldwide, and our new name and market identity give a much stronger sense of the breadth of our specialist services and determination to continually evolve.”