He has also worked in the US as part of Chubb's cyber and professional liability underwriting team in New York. Borsani will be based in Spain and report to Nepomuk Loesti, chief commercial officer for Europe.
Loesti remarked that Borsani's extensive experience and technical knowledge of cyber risks make him an excellent addition to Gallagher.
“Aldo is a great fit for Gallagher, he has great energy and technical understanding of cyber risks having spent the last ten years underwriting this specialist class including in the US, one of the most advanced cyber markets. Our existing cyber team know Aldo well and he is well placed to lead our cyber offering across Europe and support new and existing clients with risk management advice on this important boardroom issue. We are very pleased to have him joining us as we continue our expansion across the region,” Loesti said.
In addition, Gallagher has also recently appointed Richard Harries to its board of directors. Harries brings over 35 years of experience in the insurance sector, having held senior roles in various regulated markets.
His previous positions include chief executive, chief underwriting officer, and energy underwriter at Atrium Underwriters Limited, as well as significant roles in the energy sector at Willis Faber & Dumas.
Gallagher also reported its financial results for the second quarter of 2024, which were described by Chair and CEO J. Patrick Gallagher, Jr. as excellent. The company posted a 14% increase in reported revenue and 7.7% organic revenue growth in its core brokerage and risk management segments.
The net earnings margin improved by 35 basis points to 13.9%, while the adjusted EBITDAC margin increased by more than 100 basis points to 31.4%.
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