Capsicum Reinsurance Brokers

What Capsicum Reinsurance Brokers does

Capsicum Reinsurance Brokers is a London-headquartered international reinsurance broker founded in 2013, operating with offices in London and Bermuda. The firm provides full-service reinsurance brokerage, including treaty placement, structuring, and related advisory services to cedents and insurers across multiple jurisdictions. As part of Arthur J. Gallagher & Co.'s (NYSE: AJG) global reinsurance operations under the Gallagher Re sub-brand, Capsicum sits within a broader parent platform that spans wholesale insurance brokerage, alternative risk solutions, claims and risk management, creative underwriting solutions, and London market risk management. Gallagher reported $13.8 billion in revenue for the 12 months ended December 31, 2025, serving clients across 130+ countries through 1,116 offices, providing Capsicum with access to significant distribution and capital resources.

The firm is led by CEO Simon Behagg and co-founder Rupert Swallow, with a headcount of 51-100 employees. Its revenue mechanics follow the standard reinsurance brokerage model, earning commission and fee income on reinsurance placements rather than carrying underwriting risk. Capsicum's go-to-market leverages the Gallagher Re brand and the parent's cross-sell network, though standalone pricing, contract terms, and revenue figures for Capsicum specifically are not publicly disclosed. The technology layer is inherited from the parent's data and analytics-enabled reinsurance solutions platform, though no proprietary technology specific to Capsicum is documented in available sources.

Name

Capsicum Reinsurance Brokers

Legal name

Arthur J. Gallagher & Co.

Website

https://capsicumre.com

Company type

Public

Founded year

1927

Operating status

Operating

Headcount range

51–100 employees

Short description

Capsicum Reinsurance Brokers is a London-based international reinsurance broker operating within Arthur J. Gallagher & Co.'s Gallagher Re division, providing full-service reinsurance brokerage from offices in London and Bermuda with 51-100 employees.

Ownership category

akta.pro rank

Product category

Reinsurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Reinsurance Brokerage (FSAEADAE)

akta.pro secondary industries

Treaty Reinsurance Brokerage (FSAOAHAA), Facultative Reinsurance Brokerage (FSAOAHAB)

Keywords

• Reinsurance brokerage
• International reinsurance
• Treaty reinsurance
• Facultative reinsurance
• Risk transfer solutions

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations

Core offering

Capsicum Reinsurance Brokers is a full-service international reinsurance broker that places and structures reinsurance programs for insurance company clients from its offices in London and Bermuda. The firm operates within Arthur J. Gallagher & Co.'s global reinsurance brokerage platform and acts as an intermediary between cedents and reinsurance carriers, advising on treaty and facultative placements.

Product overview

Gallagher provides insurance, risk management and consulting services through multiple subsidiary companies and solutions. The Global Reinsurance Brokerage offering leverages data and analytics to tailor reinsurance solutions for clients. This operates alongside other Gallagher companies including Claims and Risk Management, Alternative Risk Solutions, Wholesale Insurance Brokerage, Creative Underwriting Solutions, and London Market Risk Management.

Differentiator

Problem solved

Functional benefit

Brands

• Gallagher Re: Global reinsurance brokerage division leveraging data and analytics to tailor reinsurance solutions.
• Gallagher Global Risk Management

Products and services

• International Reinsurance Brokerage Full-service international reinsurance brokerage placing and structuring treaty and facultative reinsurance programs for insurance company cedents, delivered from London and Bermuda offices and supported by the broader Gallagher group's data and analytics capabilities.

Ideal customer profiles1 record

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves4 records

Expansion highlights4 records

Direct peers

• Lockton Re: The reinsurance specialty unit of Lockton, the world's largest independent insurance broker. A direct competitor to Capsicum in specialty and treaty reinsurance placements with similar analytics-led positioning.
• Howden Re: The dedicated reinsurance brokerage arm of Howden Group, operating from London and other major hubs. Directly competes with Capsicum in treaty, facultative, and specialty reinsurance placements for international cedents.
• Guy Carpenter: The global reinsurance and risk advisory arm of Marsh McLennan — the largest pure-play reinsurance broker. Directly comparable to Capsicum as a full-service international reinsurance intermediary operating across treaty, facultative, and analytics-led placements.
• Cooper Gay (now part of Aon): Historically a London-market specialist reinsurance broker, now integrated into Aon. Cited as a historical comparability benchmark for Capsicum's full-service London specialty reinsurance focus.
• Aon Reinsurance Solutions: The reinsurance brokerage division of Aon plc, one of the largest global reinsurance brokers. Comparable to Capsicum as a full-service, data- and analytics-driven reinsurance intermediary serving cedents worldwide.
• JLT Re (now part of Marsh): Was a leading independent reinsurance broker before being acquired by Marsh McLennan and merged into Guy Carpenter. Provides a structural precedent for what happens when a focused specialty reinsurance broker joins a global broker.
• BMS Re: The reinsurance and capital advisory arm of BMS Group, a rapidly growing independent broker. Competes directly with Capsicum in treaty and facultative placements, with particular strength in specialty and analytics-driven offerings.
• TigerRisk Partners: An independent reinsurance and capital markets advisory firm focused on large, complex placements. Comparable to Capsicum as a specialty reinsurance broker competing for cedent mandates in London and Bermuda.

Emerging players

• Acrisure Re: The reinsurance brokerage division of Acrisure, a fast-growing global insurance brokerage. Provides comparable reinsurance intermediation services, though with a broader retail-broker-anchored distribution model.

Regional players

• Miller Insurance Services (reinsurance division): London-market insurance and reinsurance broker with comparable specialty and treaty reinsurance capabilities. Operates from London and competes in overlapping cedent relationships, particularly in the UK and international specialty segments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/capsicumre
• YouTubeyoutube.com/GallagherGlobal
• Facebookfacebook.com/GallagherGlobal
• LinkedInlinkedin.com/company/gallagher-global
• Instagraminstagram.com/gallagherglobal

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Capsicum Reinsurance Brokers