Gallagher today announced that Alex Vullo has taken a new leadership role in its market-leading Marine Protection & Indemnity (P&I) insurance practice.

As the executive director of the team, he'll have oversight of all aspects of the practice and will be responsible for leading its continued growth in the market. The practice has increased substantially over recent years and during the last decade has more than quadrupled in terms of tonnage insured. Alex will report to Jonathan Suckling, CEO of Marine, Art and Specie for Gallagher Specialty.

Alex joined Gallagher in 2005 specialising in marine P&I broking. Having worked at the firm for over 18 years, he's well established in the market. The London-based team he now leads operates globally, and Gallagher Specialty’s significant P&I portfolio means the team has in-depth knowledge of prevailing market trends in both the shipping and insurance markets and is able to react to changes in these markets quickly and efficiently. In addition, Gallagher Re is one of the leading reinsurance brokers in the sector working with many of the P&I clubs and commercial P&I insurers, giving the business a unique positon in the market.

With P&I insurance, it's essential to have a long-term strategy, and the ability to adjust this outlook on an ongoing basis is extremely important. The vast majority of Gallagher Specialty’s P&I insurance portfolio is direct retail business, so the team has extensive first-hand knowledge of the challenges the shipping industry face.

Commenting on the appointment, Jonathan said: "I have worked closely with Alex for a number of years building talent in our P&I team, and I am delighted he's now taking leadership of the practice; his passion for clients is second to none, and his technical understanding of the challenges they face and the solutions available is market-leading. The team's depth, talent and positive energy, combined with Gallagher’s broadening reach, has been responsible for the impressive growth they have seen which we plan to build on with Alex at the helm.”

Alex added: “When I joined Gallagher in 2005, we represented just over 30 million of gross tonnage. Today, Gallagher represents more than 10% of the world fleet, which is in excess of 140 million, and this impressive feat has been achieved as a result of the talent and knowledge of the team at Gallagher. This is an exciting new chapter for us all as we continue to build on this impressive foundation. We plan to make increased use of new technologies, including further utilising our extensive data to innovate and drive our business forward. Furthermore, we will be coordinating and collaborating with the Gallagher Global Network and our other partners to support and add greater value to our clients in today's ever-changing world.”