Business Moves: Gallagher Re Agrees to Buy Steadfast Re in Australia; Lockton Re Launches in Dubai for Expansion in MENA Region

Gallagher Re Agrees to Buy Steadfast Re in Australia

Gallagher Re, the global reinsurance broker and subsidiary of Arthur J. Gallagher, has signed an agreement to acquire Steadfast Re Pty Ltd., a Sydney-based reinsurance broking firm.

Terms of the deal are not disclosed. The transaction is expected to close during the fourth quarter of 2025.

“This strategic move will enhance our ability to support a range of clients, including MGAs and mutuals, and gives our local team a level of strength and increased scale,” commented Mark O’Brien, managing director of APAC at Gallagher Re, in a statement.
“The Steadfast Re team has a strong cultural alignment to our team – which is critical,” added Heather Bone, CEO of Gallagher Re Australia.

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Lockton Re Launches in Dubai for Expansion in MENA Region

Lockton Re, the reinsurance business of the world’s largest privately held independent insurance broker, announced the launch of a Lockton Re operation in Dubai, which will be led by Gerard Monayer as CEO, Lockton Re, MENA.

“This new operation is a scaling up of the Lockton MENA Treaty team bringing together the local expertise and experience of best-in-class colleagues based in Dubai with global analytics, a full suite of class capabilities, and capital solutions along with global market reach so we can provide exceptional service and advice across the MENA region,” commented Keith Harrison, international CEO, Lockton Re, in a statement.

“Lockton Re’s presence in the region reflects both our sustained investment and strong commitment to MENA,” according to Ata Khatib, chairman, Lockton MENA.

“Our growth ambitions are focused on delivering greater value to our partners and introducing innovative solutions. The transition of the Lockton MENA treaty team, led by Gerard, to Lockton Re marks a natural and exciting evolution, further strengthening our treaty offering,” Khatib added.

“This investment represents the natural progression of the strong working relationship we have built with Lockton Re over the past few years and responds to the region’s growing demand for advanced reinsurance capabilities and analytics in a fast evolving reinsurance landscape,” said Gerard Monayer, CEO, Lockton Re, MENA. “With Lockton Re’s global expertise and proprietary tools, we can deliver deeper insights, innovative risk solutions, and greater value for our clients.”

Tim Gardner, Global CEO, Lockton Re, continued: “Lockton Re, MENA is another significant area of investment for Lockton Re as we continue to expand our platform globally to meet client needs around the world. This is our 23^rd global location with a high calibre of talent that fits perfectly with our culture. We will continue to invest in both our team there and the scope of the offering they will provide to meet the needs of clients and partners in the MENA region today and into the future.”

Topics Mergers & Acquisitions New Markets Australia A.J. Gallagher