Grahame Chilton to launch Capsicum Re
Benfield founder, Grahame Chilton, is to launch a new reinsurance intermediary with Arthur J. Gallagher.
Capsicum Re, as the new venture will be known, will become the primary treaty reinsurance broking outlet of the Gallagher Group of companies and will benefit from Chilton’s wealth of experience, which previously included the positions of CEO of Benfield and latterly chairman of Aon Benfield.
“I am delighted to have had the opportunity to meet Pat Gallagher and David Ross and in a very short period we have created a trusted partner relationship,” said Chilton. “Having sold Benfield to Aon and had first-hand exposure to the experience of being a customer of one of the big 3 players, I am convinced there is a demand in the market for a niche reinsurance intermediary to supply highly bespoke and specialist services. We are working with Arthur J. Gallagher to build a new brand in the reinsurance market, Capsicum Re – I can’t wait to get my sleeves rolled up and start our new venture together."
David Ross, Arthur J. Gallagher International CEO, commented: “Partnership with such a legendary market figure as Chily will allow us to create a really compelling alternative to the big players. We see a massive opportunity for a specialist reinsurance provider. By linking his team's talents, experience and extensive network to our established platform, we will add considerable firepower to this new offering – allowing us to really hit the ground running.”
J. Patrick Gallagher, Jr., chairman, president and CEO of Arthur J. Gallagher & Co, added: "Chily has a strong reputation and proven track record as one of the reinsurance market's pre-eminent players. His team will add immediate value to our organisation and we are truly excited about this new partnership."
The new venture will be based in London.
