Gallagher promotes James Kent to new role with capital advisory angle

Gallagher Re CEO James Kent is being promoted to a new Gallagher group role that will see him helping to further the firm’s activities in helping clients access diverse sources of risk finance, and investors access insurance risk as an asset class.

The new role Kent will take on is as CEO, Global Insurance Strategic Relationships at Gallagher.

It will see him take on responsibility for helping to set and drive a framework that determines how Gallagher connects with its major strategic partners across the insurance and reinsurance eco-system.

This framework will include a focus on investing into Gallagher’s capital advisory and portfolio solutions capabilities.

On the capital advisory side, Kent will be asked to help develop the Gallagher and Gallagher Re approach to helping client insurers and reinsurers to access alternative sources of risk capacity, while at the same time matching insurance risks to investors seeking access to it as an asset class.

Kent will report jointly to Doug Howell and Tom Gallagher in this new role at Gallagher.

Gallagher Re will be led by Tom Wakefield, the current UK CEO of the reinsurance broker, who after a transition period will succeed Kent in the role of CEO of Gallagher Re.

Pat Gallagher, Chairman, President and CEO of Gallagher, commented on the news, “The acquisition of Willis Re has accelerated our 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. By doing this, we will ensure an effective and competitive market for our clients.”

Tom Gallagher, CEO of Gallagher Global Brokerage, added, “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, also 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.”

James Kent also 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.”