Commenting on Gallagher’s UK broking and underwriting results for Q2 2022, Simon Matson, EMEA CEO said: “Our strong start to the year continued into Q2 and I am delighted that we achieved organic growth of 8%. This is an excellent achievement with great new business growth and double digit organic in our Specialty division.
“Our Specialty division has had a very strong quarter delivering results significantly ahead of last year. Our property & casualty and construction practices both performed particularly strongly, the latter continuing to attract a number of key senior new hires, further broadening out our capability and meaning we are well placed for continued expansion.
“Alongside delivering strong organic growth, M&A activity continues to be an important element of our growth strategy, and in June, we announced our Retail division had acquired Teesside based Erimus and Irish broker INNOVU.
“Highlights in the UK Gallagher Re operations include high levels of client retention and new client wins, with cyber performing particularly well. Integration with the wider global team continues at pace and we continue to make strategic hires including dedicated accident and health capability.
“Pen Underwriting continues to make strong progress towards its goal of becoming a £1 billion GWP business by 2026. In the last quarter the team has seen some notable client wins by the public sector, specialist property and casualty practices, as well as launching a new tech professional indemnity proposition. All of this has been underpinned by excellent retention levels.
“We continue to attract the very best talent in the insurance sector to Gallagher and in the last three months a further 330 colleagues joined our UK team, bringing our employee base to 7,000. The team continues to demonstrate excellent commitment to our clients, working hard to deliver the very best insurance solutions for them and would like to thank them all for their hard work. I look forward to working with the team over the rest of the year.”
