Commenting on Gallagher’s UK broking and underwriting business results for Q1 2022, Simon Matson, EMEA CEO said: “We had a very strong first quarter in the UK, delivering organic growth of 14%. This is an excellent achievement shared across our different divisions with UK Retail delivering 10% growth and London Speciality, including our legacy UK-based Gallagher Re operations, achieving 17% growth.
“Clearly the first few months of 2022 have brought some global challenges, in particular for some of our international clients looked after by Specialty, and our number one priority has been supporting them to navigate the current challenges that they are facing.
“M&A activity continues to be important element of our growth strategy and at the very start of February we agreed the acquisition of Devitt Insurance, a specialist motorhome and motorbike broker, into our UK Retail division. We are in advanced discussions with other UK firms and we expect to make further announcements in the coming months.
“Turning to Pen Underwriting, in January we agreed two significant new long-term capacity deals with QBE in the specialist areas of public authority and higher education risks, as well as hazardous goods, environmental industries and tanker transportation. The agreements will see QBE provide capacity for nearly £300million in premium over the next three years.
“To help support our continued growth, we continue to invest in new hires and we are delighted to have welcomed 380 new colleagues in the UK as we continue to add further talent to our workforce. I am very proud of the team we have at Gallagher and I’d like to thank my colleagues for everything they have done so far in 2022 and I look forward to continuing this success throughout the rest of the year.”