James Kent, the global chief executive of reinsurance broker Gallagher Re, has been promoted to CEO of global insurance strategic relationships at Gallagher.
“Leading our reinsurance business for the last six years has been an honor, and it will continue to be so until I step into the new role,” stated Kent in an emailed release. “The most gratifying aspect has been the chance to represent our key stakeholders – our clients, markets, and colleagues – who have remained fastidiously supportive of our business.
“This new role allows the opportunity to spend more time with these stakeholders to bring an integrated platform for future success.”
Succeeding Kent as Gallagher Re’s global boss is Tom Wakefield, who currently leads Gallagher Re in the UK. He will be appointed following the necessary transition period.
Commenting on the change, Gallagher’s CEO for global brokerage Tom Gallagher said: “James has done an outstanding job leading and integrating Willis Re into Gallagher, which has Gallagher Re primed for continued growth and innovation.
“The newly formed global role will bring a single point of contact to Gallagher’s carrier relationships, to support growth ambitions across our core trading partnerships. I am delighted that James has agreed to drive this initiative forward across our organization and look forward to working even more closely together.”
Meanwhile, Gallagher chair, president, and chief executive Pat Gallagher highlighted that acquiring Willis Re has accelerated Gallagher’s ambition in the reinsurance space.
“Our goal to be the leading reinsurance intermediary is now stronger than ever, as it is evident that our carrier partners are faced with increasingly complicated challenges across the entire risk to capital spectrum and they need us to help them solve those challenges,” he declared. “By doing this, we will ensure an effective and competitive market for our clients.”
It’s not clear when the changes within Gallagher will take effect.