Gallagher shakes up reinsurance leadership with new global roles amid push for growth

Global re/insurance broker  Gallagher has accelerated its ambition in the reinsurance space having integrated Willis Re into the business. The move comes with key leadership changes wherein the current Gallagher Re CEO will assume a newly created global strategic role with the parent company, with its UK chief taking helm of the reinsurance intermediary.

James Kent (pictured left), currently global CEO of Gallagher Re, has been promoted to a new role with Gallagher as CEO, Global Insurance Strategic Relationships, with Tom Wakefield (pictured right) set to succeed him in the role of CEO of Gallagher Re.

Kent will now be responsible for establishing and driving the framework that determines how Gallagher connects with its major strategic partners in the re/insurance ecosystem, including further investment in capital advisory and portfolio solutions. He will report jointly to Doug Howell and Tom Gallagher in this new role.

Wakefield joined Gallagher in 2021 after a 17 year tenure at Aon, where he was latterly COO for the global reinsurance marine, specialty and composite business and led the broker’s book of marine composite reinsurance business, as well as being UK ‘Growth Leader’ for reinsurance solutions.

“The acquisition of Willis Re has accelerated our ambition in the reinsurance space,” said Pat Gallagher, chairman, president and CEO of Gallagher. “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. By doing this, we will ensure an effective and competitive market for our clients.”

Tom Gallagher, CEO of Gallagher Global Brokerage, commented: “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.”

Doug Howell, Gallagher chief financial officer, said: “Gallagher Re analytics and insights have transformed and delivered many benefits to the Gallagher business that allow us to better serve our clients and our carrier partners. I am delighted to be working with James to formulate our capital advisory strategy to support (re)insurers seeking access to alternative sources of risk finance and investors seeking access to insurance risk as an asset class.”

Kent commented: “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. 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.”

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