Gallagher established a new insurance brokerage in Japan that focuses on providing wholesale facultative coverage to other brokers and insurance solutions for commercial clients.
Two seasoned executives who are well established and who have a thorough awareness of the opportunities and challenges faced by Japanese companies operating both domestically and abroad are in charge of the company. As CEO of the retail operations, Takuya Aibe has joined from Marsh, where he served as Managing Director, with a focus on offering insurance and risk management services to businesses operating in the area.
Tetsuro Nakazawa, a former Marsh placement leader, has also joined. He has assumed the position of CEO of the division for wholesale and fac insurance, which is tasked with provide insurance services to other brokers in Japan who might not have Gallagher’s global access, scale, or reach. Under the leadership of regional CEO Thomas Wang, who joined the company in 2021 to expand its position in the region, the company will become a part of Gallagher’s North Asia operations.
From Gallagher’s Japan headquarters in Tokyo, a staff of approximately 15 will serve clients, offering top-notch expertise in risk management and insurance solutions for companies in the property & casualty, marine, financial lines, energy, construction, and aviation sectors. The team will provide organizations with employee benefits services and products in addition to broking and risk management services. It will complement Gallagher’s current Tokyo-based Tsuyoshi Noguchi-led reinsurance team and remain a part of Gallagher Re’s worldwide operations.
The establishment of a new hub in Japan, the second-largest developed economy in the world, allows Gallagher to further expand its offering and offer customized products and services from a team that is based locally and is familiar with the Japanese trading environment. Gallagher already has a sizable clientele in Japan. The launch represents yet another significant step in Gallagher’s plans to grow throughout Asia. The company already operates in Hong Kong, Malaysia, the Philippines, and Indonesia in addition to its centers in Singapore and India.
Takuya Aibe made the following statement on the launch:
“I am thrilled to be leading Gallagher’s insurance and risk management offering to clients in Japan. Gallagher is well known for its ethical approach to doing business and having an on-the-ground presence in Japan presents strong growth opportunities.”
Tetsuro Nakazawa continued,
“As one of the world’s largest brokers with extensive access to global markets Gallagher is well placed to work alongside in-country brokers to support those looking to place insurance for more complex risks. Japan is home to many large businesses with a range of risk management and insurance needs, and we can draw on the experience of our 43,000 employees globally and our extensive 130 country strong network to ensure they get the right cover.”
Speaking on Gallagher’s expansion plans in Asia, Thomas Wang added:
“Gallagher has grown in Asia over the last few years and with a number of the emerging economic global powerhouses based in the region it is an area of expansion for us. Gallagher’s proposition is all about delivering a great service to clients which I am passionate about, and having a team based directly in Japan will enable us to ensure that our regional and multinational clients will get the very best in local knowledge and technical insurance expertise. The new team in Japan build in our long-standing presence in other parts of Asia, and I continue to look for further opportunities to expand our presence.”
Source: Arthur J. Gallagher & Co.; 25th April 2023