Gallagher scoops up Texas reinsurance firm

Gallagher | November 22, 2019

Arthur J. Gallagher & Co. has announced that its captive and alternative risk transfer subsidiary, Artex Risk Solutions, has acquired Texas-based EWI Re. Terms of the transaction were not disclosed. EWI offers reinsurance program design and placement services for captives and mutual insurance companies, run-off and legacy solutions, and safety and loss-control services. Its specialty risk management practice is designed to support large insureds with demanding insurance needs. The EWI team will report to Jennifer Gallagher, president of Artex’s North American operations. “EWI’s responsive, highly focused expertise in designing and placing the reinsurance needs of single parent captives will deepen Artex’s bench strength in providing complex client solutions,” said J. Patrick Gallagher Jr., chairman, president and CEO of Arthur J. Gallagher. “We are very pleased to welcome their team to our growing global enterprise.”

Spotlight

An important corporate function is reducing exposure to risk. Very often, corporations purchase insurance on the commercial market to protect their interests. In some cases, a company may not be able to acquire the coverage it needs to cover certain risks, or the premium may be prohibitively expensive. In these cases, companies can consider using a captive insurance company to achieve their risk-management objectives. A captive operates similarly to a commercial insurance company. However, the primary role of the captive is to insure or reinsure the risk exposure of the parent company and its affiliates. Employers may gain tax and investment advantages by owning a captive. This white paper will provide background on the formation of captives and explain how a captive reinsurance arrangement can be used for employee benefits.

Spotlight

An important corporate function is reducing exposure to risk. Very often, corporations purchase insurance on the commercial market to protect their interests. In some cases, a company may not be able to acquire the coverage it needs to cover certain risks, or the premium may be prohibitively expensive. In these cases, companies can consider using a captive insurance company to achieve their risk-management objectives. A captive operates similarly to a commercial insurance company. However, the primary role of the captive is to insure or reinsure the risk exposure of the parent company and its affiliates. Employers may gain tax and investment advantages by owning a captive. This white paper will provide background on the formation of captives and explain how a captive reinsurance arrangement can be used for employee benefits.

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