Gallagher Re eyes growth opportunities in LatAm with key hire

Specialist reinsurance broker Gallagher Re has bolstered its Brazil operation with a senior hire to capitalise on the growth opportunities present in the Latin American market.

The company sees "attractive and rapidly evolving" opportunities, as well as a growing demand for specialist reinsurance products, in the region.

Reflecting its growing presence and investment in LatAm, the broker has appointed Thiago Navega as director of its Brazillian operation, with a particular focus on the global energy sector.

Navega will be based in Gallagher Re’s Rio de Janeiro office, reporting to Luiz Araripe, CEO of Gallagher Re in Brazil.

Navega joins Gallagher Re from Brazilian insurance and reinsurance brokerage Inter Risk Services, where he was head of energy, marine and renewables. Prior to that, he spent over six years with Brazilian insurer Austral Seguradora, where he led the energy & marine division, and was previously assistant vice president in the Rio de Janeiro office of Marsh’s energy, oil and gas division.

With offices in Rio de Janeiro, Sao Paulo, Santiago and Miami, Gallagher Re’s Latin American operation, established in 2016, offers the full range of treaty reinsurance solutions across the region. In Brazil, the service extends to facultative placements, facilities and portfolio solutions.

Rupert Swallow, CEO of Gallagher Re, said: “Thiago joins at an important time for Gallagher Re in Brazil and in Latin America, with our rebrand last month marking a new chapter in the story of our fast-growing business and plans for global expansion. Brazil, along with the wider Latin American region, is an attractive and rapidly evolving market that presents a wealth of opportunities for us.”

Joseph Smith, CEO - Latin America, Gallagher Re, said: “We’re delighted to welcome Thiago to our team, and in doing so, broadening our product offering and the expertise that
we deploy to support clients across the Gallagher group.”

Luiz Araripe, CEO – Brazil, Gallagher Re, added: “Thiago’s appointment reflects our ongoing commitment to investing in industry-leading broking talent, enabling us to pursue our ambitions for further growth. Thiago’s knowledge of the Brazilian market, reputation among clients and in-depth experience across a broad-range of reinsurance specialisms with particular expertise in upstream energy make him an excellent addition to our growing team.”

Navega, director – specialty risks, commented: “Since establishing a presence in Latin America four years ago, Gallagher Re has gone from strength to strength, delivering innovative solutions that fulfil the growing demand for specialist reinsurance products in the region. I am pleased to be joining the team at this exciting juncture, and look forward to working with the wider team to continue to build our specialty capability and capitalise on the significant growth opportunities present in the region.”