Gallagher has appointed Bermudian Jasmine DeSilva as managing director of its new specialty business on the island.

The global insurance broker, risk management services and consulting firm, which has a presence in 130 countries, said the new operation is designed to support clients across the region with their specialty insurance solutions.

Gallagher already has a significant client base in Bermuda, along with treaty reinsurance operations and its alternative risk management specialist business, Artex.

It said the creation of a specialty offering locally enables the firm to further expand and maximise the growth opportunities available. The team will offer clients insurance and risk management expertise across financial lines, construction, energy, marine and property and casualty.

Ms DeSilva has been commercial director of Artex Capital Solutions, based on the island, since 2021.

In this role, Gallagher said, she was instrumental in leading efforts to identify and secure new business opportunities, and during her tenure she has significantly increased market share and revenue. She oversaw a comprehensive overhaul of the company’s customer experience initiatives, resulting in improved client satisfaction and loyalty on a global scale.

Ms DeSilva previously worked as the business development manager for risk and insurance solutions at the Bermuda Business Development Agency and spent 13 years as a casualty underwriter at Sompo Insurance, managing a significant portfolio of Fortune 500 accounts.

She will report to Malcolm Payton, chief executive, Property & Casualty Insurance Solutions and head of Global Fac at Gallagher Specialty, who said: “Bermuda is known as the one of the world’s risk capitals and is an important insurance hub. Well-regulated, experienced and capital-efficient, the island has a high level of insurance expertise based locally providing advice on complex risks.

“Jasmine has a proven track record within the wider Gallagher business, and we are thrilled that she is joining to run our specialty operations in Bermuda. We have a team of four supporting Jasmine locally, which we are looking to grow as we expand our client base.”

Ms DeSilva added: “I am delighted to be taking the helm of Gallagher’s new business in Bermuda. Having been operating in the Bermuda insurance market for the last 17 years, I am very familiar with the challenges and opportunities for businesses in the region.

“The launch of our business in Bermuda, and establishing a Gallagher team on the ground really opens up the availability of insurance options for regional and multinational clients. Given our nimble approach plus Gallagher’s entrepreneurial culture and focus on client service, I believe our proposition of providing bespoke and diverse solutions sets us up for success.

“I am extremely pleased with the level of talent we have already recruited, and we are planning to further expand the team in the coming months, all of whom will play an important role in our growth journey.”