Gallagher has created a specialist role focused on placing niche risks and supporting distressed accounts, in response to the “hardening market cycle across a number of insurance classes”.

MD of Corporate Broking Mark Oatway will move into the MD Placement position.

CEO Sarah Lyons says the move is a response to changing market conditions.

“As the market becomes more challenging for some clients, we want to be in the best possible position to advise and provide a way forward,” she said.

“In making this move we are not looking to disrupt our traditional operating model, however.

“Placement remains the role of our brokers and that is where we will continue to create value and make a difference for clients.”

Mr Oatway has led the corporate team since 2014.