Bapco Energies partners with ACE Gallagher to establish Insurance captive

Bapco Energies partners with ACE Gallagher to establish Insurance captive

Bapco Energies has signed a strategic agreement with ACE Gallagher, a leading insurance company, to establish and manage an ‘Insurance Captive’. After a rigorous selection process overseen by the Bahrain Tender Board, ACE Gallagher was appointed as the lead captive manager after securing the highest combined technical and commercial score. This agreement aligns with Bapco […]Bapco Energies has signed a strategic agreement with ACE Gallagher, a leading insurance company, to establish and manage an ‘Insurance Captive’.

After a rigorous selection process overseen by the Bahrain Tender Board, ACE Gallagher was appointed as the lead captive manager after securing the highest combined technical and commercial score.

This agreement aligns with Bapco Energies’ centralization efforts by consolidating the insurance portfolio across the Group.

This strategic approach facilitates the adoption of a unified risk management strategy providing a foundation for long-term sustainability. It reinforces the company’s resilience, stability, and adaptability to evolving insurance-related needs.

The insurance captive assumes particular significance amid the prevailing challenges in the insurance market, as it empowers Bapco Energies to assert greater control over its insurance portfolio, bolster its negotiating ability with commercial insurance markets, and optimize the overall insurance cost for the Group.

The agreement was signed by Mark Thomas, Group Chief Executive