African specialist underwriting agency, Neema Insurance Managing Agency has appointed Gallagher Re as the firms reinsurance broker, following the completion of a partnership between the two companies.
David Blain from Gallagher Re, commented: ‘’Gallagher Re are delighted to be appointed the broker of choice for Neema’s
reinsurance requirements. The partnership brings together two exceptionally strong teams to increase reinsurance capacity in emerging markets across multiple lines of business. We look forward to supporting Neema in its future growth plans.’’
Sharon Ng from Neema added: ‘’We remain absolutely focused on building our business to USD 500M premium income by 2027 whilst at the same time bringing exceptional profits to our capacity providers through our successfully-proven underwriting and unique partnership models.
“Our goal is for Neema to become the leading underwriting agency for emerging markets of the world. Our partnership with Gallagher Re, the global reinsurance broking powerhouse, will play a key part in achieving our strategic objectives. Together we will bring innovative and ground-breaking reinsurance solutions, and much needed capacity to our clients.’’
In June 2022, Neema partnered with ASR Re Limited to launch a new Political Violence Terrorism reinsurance solution.
Meanwhile, analysts at Gallagher Re recently warned that many of the positive outcomes for reinsurers at the recent January 1st renewals may have come at the expense of damaged client relationships.
