Gallagher & Co., the international insurance brokerage, risk management and advisory group, has appointed Hassan Ashtari as Senior Executive Officer (SEO) for its Middle East joint venture with Artex Risk Solutions.
The joint venture operates out of Abu Dhabi Global Market (ADGM) and provides alternative risk and captive management solutions across the region.
In his new role, Ashtari will be responsible for overseeing the strategic development of the joint venture, strengthening customer engagement and managing the local team. He will continue in his role as chief client officer for Gallagher’s specialty and part-time reinsurance brokerage business in the Middle East and Africa, a role he will hold from 2024.
Ashtari has over 20 years of experience in the insurance and reinsurance sectors. His background includes structuring and implementing domestic, regional and international re/insurance programs for multinational clients across a variety of industries in the Middle East.
Gallagher and Artex will begin collaborating in 2024 to expand coverage of alternative risk transfer and captive management services in the region. Artex, a wholly owned subsidiary of Gallagher, specializes in alternative risk solutions and provides services including insurance and captive insurance management, project and facilities management, insurance-linked securities (ILS) and structured transaction management to clients worldwide.
Gallagher maintains an established footprint in the Middle East, supported by its long-term regional team. The firm has more than 100 professional, part-time and treaty professionals across the region, advising clients in the aerospace, construction, marine, energy, power, renewables, special risks, crisis management and financial sectors.
The group also provides retail brokerage services through a joint venture with ACE Gallagher, an insurance brokerage that dates back to 1952 and has offices in the Kingdom of Saudi Arabia, Bahrain, the United Arab Emirates, Oman, Kuwait, Lebanon and Greece.
Ashtari commented: “Expanding my role across two teams is a fantastic opportunity that will ensure clients receive the best insurance solutions for their needs, whether that is captive insurance or more traditional insurance products and services. With many complex multinationals in the region, our team can provide comprehensive advice and solutions to any scope of risk that a company needs to manage.”
Paul Eaton, CEO of Artex EMEA, added: “I am delighted that Hassan has taken on this role in the local market, which reflects Artex and Gallagher’s commitment to enhancing the alternative risk solutions we offer clients while strengthening our presence in the region. We believe there is real demand and strong growth opportunities for our range of specialist services, covering the full lifecycle of the captive from feasibility studies to management and operations.”
