This field is for validation purposes and should be left unchanged. "Thankfully strong capital growth in 2019 allied to judicious investment strategies by many companies has put the industry in a good position to weather the current volatile environment," he said. Not only is John a recognized leader of the Willis Re business, he is also a leading figure in the global reinsurance industry. Read more about Artemis. 2011-2021 salaries for San Francisco | Transparent California You combine that leadership team and the team from Willis Re, and it is a one plus one equals five. Willis Re Announces Senior Leadership Appointments - GlobeNewswire I couldnt be more excited, he continued. Gallagher has a long history of growing its retail operations through numerous small acquisitions. What is life insurance securitization or life ILS? Commenting on Kents promotion, John Cavanagh said: James is one of the most highly regarded executives in the industry and has a stellar track record of driving innovation and financial performance. What are traditional, non-traditional or alternative reinsurance? 1. And that includes attracting talent to the organization as well. Under the terms of the deal, Gallagher paid Willis $3.25 billion and agreed to potentially pay an additional $750 million in 2025 based on the revenue of the acquired operations in 2024. Get in touch directly using our contact form. However, if you would like to, you can change your cookie settings at any time. GR Main Edition 2022: Disrupting the Oligopoly, GR at SIRC 2019: Day 3 live & free to read, WTW employment scheme for adults with autism extended to UK. That is all going to play a huge part, said Gallagher. Sign up today for your free Reader Account. She joined WTW in 2003 and has held a number of senior leadership . Gallagher struck a deal to acquire Willis Re for $3.25bn in August in the wake of the collapsed Aon-Willis Towers Watson merger. Prior to this, he held regional CEO roles in Continental Europe and Australasia. Alexis is accountable for supporting the company's short- and long-term success through oversight of operations, real estate and technology. The industry has endured several years of below-par performance, capped by the calamitous . This will limit your search to that combination of words. Gallagher Re's new Global CEO, James Kent, expanded on this, "Like every business within the legacy Willis Re business, we're very proud of the offering and the team that exists, and the ILS . Kent, who is the units deputy global CEO, takes over after Cavanagh retires in December. So, whats good about this is that the integration conversations arent about who wins and who loses, when sometimes thats the way integrations have to go. Following a successful tenure leading Willis Res Bermuda office, in 2010, Kent was appointed President of Willis Re North America, moving to New York to work alongside Willis Re North America CEO, Jim Bradshaw, and Willis Re North America Chairman, Paddy Jago. We also publish Artemis.bm, the leading publisher of news, data and insight for the catastrophe bond, insurance-linked securities, reinsurance convergence, longevity risk transfer and weather risk management sectors.. Weve published and operated Artemis since its launch 20 years ago and have a readership of around 60,000 every month. This site, like many others, uses small files called cookies to ensure that we give you the best experience on our website. The deal follows a turbulent seven-month period that saw Gallaghers original offer to buy Willis Re in May fall apart and later be modified and revived after Aon PLCs deal to buy Willis Towers Watson PLC was terminated in July in the face of regulatory opposition. Willis Re, Willis Towers Watson P.L.C.'s reinsurance business, said Thursday that James Kent will succeed global CEO John Cavanagh when he retires at the end of the December. Get reinsurance news by email here. Transparent California For example, workers compensation. Kent immediately takes up his new role at Willis Re, working closely with global CEO John Cavanagh and global chairman Paddy Jago. Website Privacy & Cookies and Disclaimer. WTW hires from Aon for corporate risk and broking role, 3. Gallagher Res new Global CEO, James Kent, expanded on this, Like every business within the legacy Willis Re business, were very proud of the offering and the team that exists, and the ILS team is absolutely part of that. This field is for validation purposes and should be left unchanged. But I genuinely see the two businesses as very complementary, he added. Or, email[emailprotected]with any questions, suggestions or advertising enquiries. As chancellor of the New York Court of Chancery (1814-23), he is said to have made . We also publish Artemis.bm, the leading publisher of news, data and insight for the catastrophe bond, insurance-linked securities, reinsurance convergence, longevity risk transfer and weather risk management sectors.. Weve published and operated Artemis since its launch 20 years ago and have a readership of around 60,000 every month. But the point about the Willis Re team, it will be firmly embedded within the combined reinsurance businesses and I think theres a real opportunity for us to accelerate sales. Search California public, government employee, workers salaries, pensions and compensation Stay updated by joining our mailing list! Add to that the long-established global footprint and success of the Willis Re business, and its a really exciting combination. So, if we get those four things right, I feel that will underpin a business for the foreseeable future that will be very, very effective, said Kent. I think the key, and it really comes back to integration, is how do we best integrate that within the entirety of the Gallagher organization, and specifically Gallagher Re, to best serve our clients and make it most effective for our clients, in terms of new sales. Combined with Gallagher's existing reinsurance operations, the business, trading as Gallagher Re, brings together more than 70 offices across 31 countries and 2,400 staff. AJ Gallagher has completed its acquisition of Willis Towers Watson's treaty reinsurance business.

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