Gallagher Re managing director Hamish Dowlen stated that the acquisition will help them improve their presence and scale in Africa by bringing together a highly skilled team.
Global reinsurance broker and advisory company Gallagher Re has agreed to buy Resilea Limited, the largest independent reinsurance broking company in Johannesburg, South Africa.
Gallagher Re managing director Hamish Dowlen stated that the acquisition will help them improve their presence and scale in Africa by bringing together a highly skilled team of data- and client-led professionals. Through this, the company aims to focus on customer needs and innovative solutions, and to expand its services and broaden its expertise in the region.
Hamish Dowlen, CEO for EMEA at Gallagher Re, stated that including Resilea’s experienced professionals will help the company to increase their scale and influence in Africa.
This move will expand the company’s reach, serve a variety of clients, and help them adapt to the evolving demands of the marketplace.
As part of the deal, Iain Macindoe will become the chairman of Gallagher Re’s South African operations. Mathew Macindoe, who was previously Resilea’s managing director, will become the regional director and CEO at Gallagher Re South Africa. While the deal did not specify any financial or operational details, the change in leadership reflects Gallagher Re’s commitment to using local experts as it continues to expand into new markets.
Gallagher Re’s ambitions are not limited to South Africa. The company wants to consistently expand beyond South Africa to a global scale, with a particular focus on the Asia-Pacific (APAC) region. In a recent development, Gallagher Re announced the acquisition of Steadfast Re Pty Limited, a reinsurance broker based in Sydney, Australia. This deal helped them to establish their profile in Australia, adding to their resources and expertise in the area.
Apart from expanding its geography, Gallagher Re is also investing in innovation. The company recently introduced a new cyber reinsurance framework specifically designed for the APAC region. This framework will address the needs of a rapidly evolving market by offering a flexible structure that supports a wide range of reinsurance models and products.
It covers areas such as cyber, technology errors and omissions, and cyber property damage, providing tailored solutions for small and medium-sized companies, the midmarket, and larger corporations.
The framework’s design allows it to adapt to the needs of the local market as well as those of clients, offering options such as white-labeling, facultative, and treaty structures. Gallagher Re expects the framework to deliver substantial capacity, with initial minimums set at $15 million for facultative reinsurance and $10 million for white labelling and treaty placements.
This approach aims to connect available cyber risk coverage with actual demand, enabling insurers and their clients to respond effectively to new and emerging risks.
Gallagher Re has appointed Parrus Kunvarji as executive director to help the company in the APAC region. Kunvarji has experience in reinsurance strategy, business development, and regulatory compliance, having previously worked at Pacific International Insurance as chief commercial officer and chief risk officer. He plans to grow and expand Gallagher Re across key APAC markets.
According to Gallagher Re’s October 2025 Market Watch, the region experienced a slowdown in economic growth in 2024, with the global economy expanding at 1.4% and emerging markets growing by 5.1%. Non-life insurance premium growth is reaching 6%. The company’s annual APAC Market Watch report stated a shift in industry focus toward quality and resilience, as competition intensifies and the pace of premium growth slows.
Despite these challenges, there are bright spots in the market. The cyber, electric vehicle, and health insurance sectors have all experienced significant growth, and the APAC cyber insurance market grew by 50% annually.
