Reinsurance Brokers to the Caribbean
IIBRe was established in Jamaica as a division of CGM Gallagher to provide regional insurers, insurance brokers and large corporate clients with access to the global reinsurance market when, local capacity was insufficient, local treaties were restrictive, large clients wanted greater flexibility in their insurance programmes and cover was otherwise unavailable in the local market.
We have leveraged our relationships with major London brokers and underwriters in the direct reinsurance markets to place complex risks. We are a subsidiary of Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm headquartered in Itasca, Illinois, with operations in 19 countries and offers client-service capabilities in more than 140 countries around the world through a network of correspondent brokers and consultants. Our international correspondents, include AON, SBJ Cooper Gay, and Willis. We have direct access to the international markets such as Munich Re, Swiss Re, Hannover Re, the Bermuda markets and London/Lloyd’s restricted markets.
Our Captive Administration department makes valuable recommendations on using captives and alternative markets. This captive administration service has helped our clients to exercise greater management and control of pure risks, within a tax-friendly environment. We have developed considerable expertise in consultation services to firms interested in Alternative Risk Transfer options throughout the Caribbean and have also been integral to the establishment of several captives for large Caribbean firms.
Binder Underwriting Facility
A special department, the Binder Underwriting Facility has been established within IIBRe to manage this process. The unit is staffed by a highly experienced and qualified team of underwriters and claims professionals, supported by the strong technical and financial resources of the CGM Gallagher Group. Targeted risks under the Binding Authority agreement are:
- Retailers/Offices/Shopping malls
- Short period events including concerts, fashion shows, trade shows/expositions, conferences