Brokers Have Expanded Legacy Insurance Teams
Global brokerage firms are integrating retrospective insurance solutions into their capital advisory services.
Updated on Sept. 30, 2026 in Financial Planning
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Major broking houses have increasingly appointed dedicated leaders to oversee legacy and retrospective insurance solutions. These firms are now integrating these specialized offerings into broader capital advisory practices to assist insurers with balance sheet optimization.
Why it matters
Insurers are utilizing these legacy solutions to manage large reserve accumulations, allowing them to effectively offload liabilities and free up capital. This strategic shift enables firms to adjust underwriting goals and improve overall balance sheet efficiency.
The legacy insurance market has seen a 10-year period of sustained growth as firms leverage three decades of experience in structuring run-off business. This data tracks the rise in specialized teams across major global brokerages.
The players
Gallagher Re
This global reinsurance broker provides risk transfer solutions and has recently expanded its specialized legacy leadership.
Howden
This international insurance group offers diversified broking and investment banking services to its global clients.
Lockton Re
A risk management firm that focuses on reinsurance advisory and has integrated retrospective expertise into its capital services.
The details
Brokers now frequently collaborate with M&A advisers to evaluate retrospective transfer options during the acquisition process. This integrated approach allows insurers to shift complex liabilities as part of a wider strategy to reduce underwriting exposure.
Timeline
The legacy insurance market has experienced a decade of expansion from 2016 to 2026.
Gallagher Re appointed a dedicated head of legacy in 2021.
Howden brought legacy and investment banking divisions under common management in 2023.
Lockton Re expanded its capital advisory practice and Gallagher Re added a UK legacy lead in 2025.
Market Landscape
This development reflects a shift away from traditional run-off insurance management by embedding legacy solutions directly into active capital advisory workflows. By integrating these services, brokers are positioning themselves to capture more share in complex insurance liability transfers.
While these shifts primarily target corporate insurers, retail clients may experience more stable premium pricing as insurance companies better optimize their capital. This professionalization of legacy management helps firms maintain long-term solvency and reliable coverage for policyholders.
The takeaway
The integration of legacy teams into mainstream brokerage operations signifies that offloading old liabilities is now a standard component of financial health. Insurers should view these retrospective tools as essential for maintaining a lean and efficient capital structure.
Further reading
For broader insights into how firms are managing balance sheets, see our Financial Planning section.
Source note: This article includes information reported by Insurance Business.
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Do you trust that insurance brokers prioritize client interests when recommending long-term financial legacy solutions?
