The international insurance market is entering a period of significant transformation, with risks becoming increasingly complex, interconnected, and demanding to manage. From geopolitical developments and the energy transition to cybersecurity risks and growing management liabilities, businesses are now required to operate in an environment of heightened uncertainty.
Within this context, the role of specialized insurance and reinsurance brokers becomes particularly important, as it is no longer limited to risk placement but extends to the structuring of comprehensive solutions, leveraging the dynamics of international markets and access to specialized capacity.
ACE Gallagher Greece, present in the Greek market since 1978 and now strengthened by the global power of the Gallagher Group, combines deep local market knowledge with access to leading insurance and reinsurance markets worldwide, focusing on complex and specialized corporate risks.
On the occasion of the company’s role and prospects in Greece, insuranceforum.gr spoke with Mr. Alexis Kotsalos, Branch Manager of ACE Gallagher Greece, who analyzes the modern risk landscape, the importance of international connectivity for the Greek market, the collaboration model the company is developing, as well as the challenges shaping the future of insurance.
Mr. Kotsalos, we would like to begin with an overall overview of ACE Gallagher Greece and its role in the Greek market. You are part of one of the largest international insurance groups, while also having a presence in Greece since 1978. How does this work in practice?
Most international brokers enter a market with a strong brand but without a substantial local foundation. ACE Gallagher Greece represents a different case.
We bring with us over 70 years of regional experience, with roots in the Middle East and the Gulf countries dating back to 1952, combined with the global strength of the Gallagher Group, the third largest insurance broker worldwide, with presence in more than 130 countries.
What truly differentiates us in Greece is something very specific: we were here long before this market became a priority for most international players. Our presence in Greece dates back to 1978. This means we do not simply understand the Greek market — we understand how it connects to international markets.
The integration with the Gallagher Group in 2021 further strengthened this dynamic, creating a unified platform that combines deep regional knowledge with strong international placement capabilities, covering insurance and reinsurance needs as well as specialty risks across the Middle East, London, and continental Europe.
Our presence in the Dubai International Financial Centre (DIFC) is a key enabler, as we have developed strong relationships with underwriters in one of the most dynamic and reliable insurance markets globally.
This international dimension is further enhanced through the Group’s broader European ecosystem, providing additional depth and specialization in European markets.
As wholesale insurance & reinsurance brokers, we work almost exclusively with insurance companies and intermediaries. Our role is complementary: we strengthen the market by providing access, solutions, and expertise that are not easily available locally.
For the Greek market, this translates into something highly tangible: access to capabilities and capacity that would otherwise not be available.
What does it mean in practice to be part of an international group? How does this translate into value for partners in Greece?
International presence only has value when it can be effectively utilized in practice — and this is precisely where the market often falls short.
At ACE Gallagher Greece, we perceive our value through three core pillars:
Access to capacity when the local market reaches its limits
When a risk is too large or complex to be placed locally, we secure capacity from A-rated markets in the Middle East, London, and continental Europe. This is particularly critical in sectors such as energy, large infrastructure projects, and oil & gas, where the proper structuring of insurance is a prerequisite for the execution and financing of any project.
Specialized expertise
Cyber, D&O, Professional Indemnity, Marine, War Risks, Surety & Credit, W&I — these are lines where the right approach makes all the difference. Through our international specialty teams and underwriting capabilities within the Group, we provide direct access to high-quality solutions.
Participation in an international group offers speed, efficiency, and negotiating power. A characteristic example: we recently completed a D&O facility in London in just four weeks — a process that typically takes up to two years. This translates into stability, quality, and predictability for the client.
Selection of the appropriate market
Not all markets are the same — and selecting the right one is, in itself, a competitive advantage. London is a benchmark for complex placements. The Middle East offers flexibility in specific lines. Continental Europe provides competitive solutions and specialization in areas not available elsewhere, such as parametric insurance, offshore renewable energy projects, decennial liabilities, and latent defects.
The real value lies in the optimal combination of these markets — selecting each time the strongest elements from each. We have the ability to access all these markets depending on the specific conditions of a placement. And this constitutes a powerful competitive advantage for us.
The risk landscape is evolving rapidly. What are the main challenges businesses in Greece face today?
Risks today are more complex, more interconnected, and less “predictable” than ever before.
Five key pillars shape the landscape:
Cyber risks, with the average global cost of an incident reaching approximately $4.4 million. With the widespread adoption and integration of AI across business operations, we are essentially in “uncharted waters,” where the complexity and intensity of threats are increasing exponentially. This dynamic requires a new approach, enhanced security policies, and more advanced response tools, while traditional protection and insurance models will soon be tested in terms of their adequacy. Adjustments to policies across almost all lines are certainly required.
Climate risks — fires, floods, and extreme weather events — are expected to lead to more innovative and creative solutions. Solutions that will combine traditional insurance tools with new types of alternative risk management methods. This evolution is inevitable, as the climate crisis intensifies and traditional reinsurance models face increasing pressure.
Energy and infrastructure, with growing insurance requirements for project financing.
Management and professional liabilities, with increased legal exposure, emerging ESG-related claims, and more complex contractual requirements.
Geopolitical instability, which directly affects capacity and insurance terms, as well as the entire supply chain of businesses.
Businesses now require tailored solutions that reflect the true complexity of their risks. This is also what drives us every day — to be genuinely useful where it matters.
What is the collaboration model you seek to develop with the Greek market?
First of all, we are not here to compete with the market. We are here to strengthen it.
We act as a multiplier of capabilities for our partners.
Through specialized solutions and facilities, through access to international markets, and through the transfer of expertise.
At the same time, we are particularly selective in how we develop partnerships. We do not address the entire market, but rather selected partners, brokers, and large insurance entities across the country that operate with high standards of professionalism, technical competence, and consistency — characteristics necessary to support the solutions we deliver to end insureds.
We do not impose exclusivity. We believe that the value of a partnership is proven daily in practice. When we deliver high quality, the end insured is satisfied, the partner returns because they benefit, and this creates a relationship that evolves organically, not mechanically.
We offer both qualitative and quantitative incentives, aiming for a partnership that is meaningful, mutually beneficial, and sustainable over time. For us, collaboration is not a simple commercial transaction — it is a relationship of trust, shared purpose, and shared responsibility toward both the partner and the insured.
What differentiates ACE Gallagher in the Greek market?
Three things: relationships, expertise, and execution capability.
Our relationships with international markets have been built over decades. Our relationships with the Greek market are built daily, based on reliability, transparency, and a genuine collaborative spirit.
Our expertise allows us to properly structure each risk — not merely place it. And our involvement does not stop at placement: it continues throughout the life of the policy, and especially during claims handling, where the true quality of coverage is demonstrated.
What are your goals for the coming years?
Our goal is to become the first choice for managing complex and demanding risks in the Greek market, and for our name to become synonymous with reliability, solution capability, and high specialization.
We systematically invest in three directions: in specialized solutions and targeted facilities, in meaningful partnerships that create measurable added value, and in knowledge transfer to the market, so that we actively contribute to elevating the overall level of the industry.
Would you like to share a few words about your own professional journey and your role as Branch Manager of ACE Gallagher Greece?
My journey in the insurance sector has been shaped through my involvement with complex corporate risks and collaboration with different markets and cultures. I come from a family with deep roots in insurance, so I was exposed to the industry from a very early stage. Throughout my professional path, I had the opportunity to work in leading companies in the sector and collaborate with highly experienced professionals — something that significantly influenced how I perceive the profession.
What has always interested me was not simply the placement of a risk, but the overall understanding of the framework within which it develops: the structure of insurance, the dynamics of the markets, decision-making processes, and the behavioral dimension of risk. These are elements that continue to motivate me.
I consider it equally important for this knowledge to be transferred to younger professionals — not only as technical training, but as a way of thinking and, above all, as a meaningful connection with an industry that combines expertise, analysis, and continuous evolution. This is something I also try to convey through the seminars of the Hellenic Institute of Insurance Studies (EIAS), where I often have the opportunity to engage with market professionals who have a genuine willingness to learn.
My role as Branch Manager has two main dimensions. The first concerns the development of our presence in the Greek market in a way that creates real value — not merely as a commercial activity. In this context, a key priority is strengthening our team, highlighting new talent, and developing executives who meet the demands of the modern insurance environment. It is an honor to represent such a strong name, but also a responsibility that acts as a constant source of motivation.
The second dimension is acting as a “bridge” between the local market and ACE Gallagher’s international ecosystem. My goal is to translate our international expertise, capabilities, and access into practical and meaningful solutions for Greek businesses.
On a personal level, I am driven by the ability to find solutions where initially none seem to exist, and to help our partners approach more demanding risks with greater confidence.
At the end of the day, what truly matters is not only the outcome of a placement, but the value that the collaboration leaves behind.
In closing, what is your message to the market?
The market is becoming increasingly demanding. The difference will not be determined by who simply offers a product, but by who has access, knowledge, and the right partners.
These three factors will define who can truly stand by the client and provide solutions that meet modern needs and challenges.
The risk environment requires collaboration. And we are here to build it.
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