“Gallagher’s UK business had an extremely good Q3 delivering strong organic growth at 15%. This is a fantastic achievement driven by outstanding results across all our trading divisions.
“Our Specialty division has had a very strong quarter and is significantly ahead of last year. Our property & casualty, aerospace and construction practices all performed very well and throughout the year have maintained double digit organic growth during each quarter.
“In August we announced the acquisition of AnotherDay by our Specialty division. AnotherDay is a brilliant addition to the Gallagher client offering with the talented team focusing on helping clients to navigate the growing and fast evolving threats of terrorism, criminality, war and cyber related risks. We expect them to play a key role in supporting clients across both our Specialty and UK Retail divisions going forward.
“UK Retail continues to grow strongly organically, and is focused on supporting our UK clients during the current economic instability. We have seen good growth across our private clients, SME and mid corporate client base and our M&A pipeline remains buoyant in this area of the business and we expect to make further acquisition announcements in the coming months.
“Pen Underwriting continues to build on its performance from the first half of the year and the recent announcement of Aviva committing to a long term capacity arrangement for Pen is testament to the strength of its capacity partners. The Pen acquisition of Manchester Underwriting Management has performed really well and the division currently has a number of live acquisition conversations, which will form a key part of our strategy to achieve £1bn GWP by 2026.
“As part of Gallagher Re’s global strategy, Gallagher Re UK is on track to deliver good growth with priorities including continued strategic hires plus development of our existing talent, combined with continued investment in data and analytics to create market-leading solutions. Integration of the wider division has been a priority and we now have all London-based colleagues together in one location which will deliver the best service for clients.
“We continue to attract the very best talent in the insurance sector to Gallagher and in the last three months nearly 350 new colleagues joined our UK team. In September the latest group of graduates joined our Gallagher Futures programme, which is designed to attract, develop and retain high calibre individuals into Gallagher and the world of insurance. This year we welcomed 55 new graduates who will work across different areas of the Gallagher UK business for the coming 24 months.
“Gallagher’s employees in the UK continue 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.”