Arthur J Gallagher, the insurance brokerage, has signed heads of terms with Capsicum Reinsurance Brokers, and wants to ultimately take a 100 percent stake.
Gallagher has an option to increase its existing stake in Capsicum Re, which was founded by Grahame Chilton and Rupert Swallow in 2013. Capsicum Re already has a close partnership with Gallagher, which is its primary treaty reinsurance broking outlet.
The parties continue to negotiate the terms of Gallagher’s future ownership and any deal remains subject to the receipt of necessary approvals and the execution of relevant agreements.
Arthur J Gallagher, Capsicum Re