CGM Gallagher

CGM Gallagher is a Caribbean insurance-broking group serving commercial insurance customers across Jamaica and the Eastern Caribbean. The group operates offices in Jamaica, Barbados, Saint Vincent and the Grenadines, and Saint Lucia, and has been described as the Caribbean's largest insurance broker. The group's history combines two earlier insurance-broking businesses. Its Jamaican predecessor began in 1971 as International Insurance Brokers Limited (IIB). IIB developed from a partnership involving the ICD Group, Bank of Nova Scotia and Hogg Robinson & Gardner Mountain Limited, a Lloyd's broker. In Barbados, CGM Insurance Brokers originated in 1980 from the Willis Agency. These businesses operated separately until 2004, when the Barbados brokerage and IIB Jamaica merged to form the CGM Group. The 2004 combination established a regional group focused exclusively on commercial insurance segments. The ICD Group, based in Jamaica, became the majority shareholder. In 2005, the group expanded its regional footprint by establishing CGM Insurance Brokers St. Vincent Limited, which later became the largest brokerage in Saint Vincent and the Grenadines. In 2007, Arthur J. Gallagher partnered with the group, creating the CGM Gallagher Group and linking the Caribbean business with the international Gallagher insurance-broking network. After the Gallagher partnership, the group added CGM Gallagher Insurance Brokers St. Lucia Limited. In addition to insurance brokerage, CGM Gallagher operates CaribRM, a risk-management company. CaribRM serves as facility supervisor for the Caribbean Catastrophe Risk Insurance Facility, a partnership involving CARICOM and the World Bank. CCRIF is a regional parametric catastrophe-insurance facility designed to provide participating governments with rapid financial protection following qualifying natural disasters. CGM Gallagher's positioning is therefore regional and commercial rather than consumer-oriented. Its activities combine insurance placement, brokerage relationships, risk-management services and participation in Caribbean catastrophe-risk infrastructure. The available reference material does not identify a public listing, standalone website, current executives, detailed financial results or a complete catalogue of insurance products. The group is also associated with sponsorship of West Indian cricketer Brendan Nash.

CGM Gallagher's corporate history is rooted in insurance brokerage businesses established in two Caribbean markets. In Jamaica, the group's earlier business began in 1971 under the name International Insurance Brokers Limited. IIB emerged from a partnership involving the ICD Group, Bank of Nova Scotia and Hogg Robinson & Gardner Mountain Limited, a Lloyd's brokerage operation. This Jamaican origin provided one of the principal foundations for the later regional group. The other major predecessor was established in Barbados. CGM Insurance Brokers began there in 1980, developing out of the Willis Agency. For several decades, the Jamaican and Barbadian businesses operated as separate insurance-broking operations. Their combination in 2004 created the CGM Group, bringing together CGM Insurance Brokers in Barbados and IIB Jamaica. The merged organization adopted a focused commercial-insurance strategy rather than pursuing a broad consumer-financial-services model. The ICD Group, a Jamaica-based business group, held the majority of the merged company's shares. The post-merger period was marked by geographic expansion. In 2005, the CGM Group established CGM Insurance Brokers St. Vincent Limited. The Saint Vincent operation subsequently became the largest brokerage in Saint Vincent and the Grenadines, according to the reference account. This move extended the group's presence beyond its original Jamaican and Barbadian bases and reinforced its role as a multi-island Caribbean broker. A further structural development came in 2007, when Arthur J. Gallagher partnered with the group. This partnership produced the CGM Gallagher Group and added the Gallagher name to the regional business. The relationship connected a Caribbean commercial-broking platform with Arthur J. Gallagher, an international insurance-broking organization. The available material does not specify the precise ownership terms, governance arrangements or duration of the partnership. Following the partnership, CGM Gallagher established CGM Gallagher Insurance Brokers St. Lucia Limited. Together with the offices in Jamaica, Barbados and Saint Vincent and the Grenadines, the Saint Lucia operation formed a regional network serving commercial clients in multiple Eastern Caribbean jurisdictions. The group also developed capabilities outside conventional insurance placement through CaribRM, a risk-management company. CaribRM is identified as the facility supervisor of the Caribbean Catastrophe Risk Insurance Facility, known as CCRIF. CCRIF was created as a partnership between CARICOM and the World Bank and is described as the world's first multi-government regional parametric catastrophe-insurance facility. Its model uses predefined triggers and parameters to support rapid payouts after specified catastrophic events, making it particularly relevant to governments and economies exposed to hurricanes, earthquakes and other natural hazards. The source material does not provide detailed information about CaribRM's founding date, staffing or contract terms. CGM Gallagher has also participated in regional public visibility through sponsorship of West Indian cricketer Brendan Nash. No further campaign details, sponsorship dates or commercial outcomes are specified. The available information presents CGM Gallagher as an active regional insurance-broking and risk-management group, but does not provide current financial statements, a named headquarters, executive roster, public-market information or a detailed account of its present ownership beyond the majority stake attributed to ICD Group.

• 2007

  Arthur J. Gallagher partnership

  [1]CGM Gallagheren.wikipedia.org

  Arthur J. Gallagher partnered with the CGM Group, creating the CGM Gallagher Group.

• 2005

  Expansion into Saint Vincent

  [1]CGM Gallagheren.wikipedia.org

  The group established CGM Insurance Brokers St. Vincent Limited, which later became the largest brokerage in Saint Vincent and the Grenadines.

• 2004

  CGM Group formed through merger

  [1]CGM Gallagheren.wikipedia.org

  CGM Insurance Brokers in Barbados merged with IIB Jamaica to form the CGM Group, focused on commercial insurance.

• 1980

  Barbadian predecessor begins

  [1]CGM Gallagheren.wikipedia.org

  CGM Insurance Brokers began in Barbados out of the Willis Agency.

• 1971

  Jamaican predecessor established

  [1]CGM Gallagheren.wikipedia.org

  International Insurance Brokers Limited began operations in Jamaica, forming one of the principal historical foundations of CGM Gallagher.

• Saint Lucia operation established

  [1]CGM Gallagheren.wikipedia.org

  After the Gallagher partnership, the group established CGM Gallagher Insurance Brokers St. Lucia Limited; the reference does not specify the year.

A Caribbean-focused commercial insurance broker and risk-management group with a regional office network and an affiliation with Arthur J. Gallagher.

• Insurance brokerage · 2004

  Commercial insurance brokerage

  Commercial insurance brokerage is the group's core stated business. CGM Gallagher's 2004 formation brought together Jamaican and Barbadian brokerage operations with an explicit focus on commercial insurance segments. The available material does not enumerate specific coverage classes, client industries or policy products.

• Risk management

  CaribRM

  CaribRM is the group's risk-management company. It serves as facility supervisor for the Caribbean Catastrophe Risk Insurance Facility, a CARICOM and World Bank partnership providing regional parametric catastrophe-insurance capacity. The reference material does not describe CaribRM's full service catalogue.

• Insurance brokerage · 2005

  CGM Gallagher Insurance Brokers Saint Vincent

  The Saint Vincent brokerage serves Saint Vincent and the Grenadines and developed from the operation established by the CGM Group in 2005. It is identified in the reference material as the largest brokerage in that market.

• Insurance brokerage

  CGM Gallagher Insurance Brokers Saint Lucia

  The Saint Lucia brokerage was established after the 2007 partnership with Arthur J. Gallagher and extends the group's insurance-broking presence into Saint Lucia.

• Brendan Nash sponsorship

  Caribbean

  CGM Gallagher sponsored West Indian cricketer Brendan Nash, associating the group with regional cricket. The available source does not provide the sponsorship's start date, campaign creative or contractual details.

  Source

• 2007

  Partnership with Arthur J. GallagherM&A

  Background

  The CGM Group had established a multi-island Caribbean commercial-broking platform and sought a relationship with the international insurance-broking organization Arthur J. Gallagher.

  Action taken

  Arthur J. Gallagher partnered with the group, which then operated as the CGM Gallagher Group.

  Aftermath

  The group subsequently established a Saint Lucia brokerage and continued operating across Jamaica, Barbados, Saint Vincent and the Grenadines, and Saint Lucia.

  Source

• 2004

  Merger of the Jamaican and Barbadian brokeragesM&A

  Background

  CGM Insurance Brokers in Barbados and International Insurance Brokers Limited in Jamaica were separate predecessor businesses seeking to operate as a regional commercial-insurance group.

  Action taken

  The two businesses merged to create the CGM Group, with a stated focus on commercial insurance segments. The ICD Group became the majority shareholder.

  Aftermath

  The merger created the corporate platform that later expanded into Saint Vincent and the Grenadines and became CGM Gallagher after the Arthur J. Gallagher partnership.

  Source

1. 1CGM Gallagheren.wikipedia.org