Gallagher hits ‘major milestone’ in Asia with move into Japan

Gallagher has revealed a major milestone in its plans to expand across Asia with the launch of a new insurance brokerage in Japan. It will be led by senior executives joining the firm from Marsh and specialise in providing insurance solutions to commercial customers and wholesale fac insurance to other brokers.

The new insurance brokerage in Japan will complement Gallagher’s existing reinsurance team, also based in Tokyo, which is led by Tsuyoshi Noguchi, and will continue to be part of the Gallagher Re global business.

A team of circa 15 will look after clients from Gallagher’s Japan HQ in Tokyo, providing risk management and insurance solutions for businesses in sectors including property & casualty, marine, financial lines, energy, construction and aviation. Additionally, the team will also offer businesses support with employee benefits services and products.

The business will be led by two experienced leaders having an in-depth understanding of the Japanese market. Takuya Aibe has joined Gallagher from Marsh, where he was managing director, as CEO of the retail operations, which are focused on providing insurance and risk management services to businesses operating in the region.

Tetsuro Nakazawa has also joined from Marsh where he was placement leader. He will be the CEO of the wholesale and fac insurance division, which is dedicated to providing insurance services to other brokers in Japan, who may not have the global access, scale and reach. The business will form part of Gallagher’s North Asia operations under regional CEO, Thomas Wang, who joined in 2021 to grow the firm’s presence in the region.

Gallagher said the creation of a new hub in Japan, where it already has a significant client base, will enable the firm to further expand its offering and provide tailored products and services. Gallagher currently has other hubs based in Singapore and India, complemented by operations in Hong Kong, Malaysia, the Philippines and Indonesia.

Aibe, said: “I am thrilled to be leading Gallagher’s insurance and risk management offering to clients in Japan. Gallagher is well known for its ethical approach to doing business and having an on-the-ground presence in Japan presents strong growth opportunities.”

Nakazawa added: “As one of the world’s largest brokers with extensive access to global markets Gallagher is well placed to work alongside in-country brokers to support those looking to place insurance for more complex risks. Japan is home to many large businesses with a range of risk management and insurance needs and we can draw on the experience of our 43,000 employees globally, and our extensive 130 country strong network to ensure they get the right cover.”

Speaking of Gallagher’s expansion plans in Asia, Wang said: “Gallagher has grown in Asia over the last few years and with a number of the emerging economic global powerhouses based in the region it is an area of expansion for us. Gallagher’s proposition is all about delivering a great service to clients which I am passionate about, and having a team based directly in Japan will enable us to ensure that our regional and multinational clients will get the very best in local knowledge and technical insurance expertise. The new team in Japan builds on our long-standing presence in other parts of Asia, and I continue to look for further opportunities to expand our presence.”

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