Gallagher Re CEO’s surprise exit sparks leadership shift; new UK CEO unveiled
The chief executive officer (CEO) of Gallagher Re is leaving the group next month, declining the opportunity to take up the recently offered global role with the parent company. The move comes shortly after the announcement of significant leadership changes at the company just two months ago.
James Kent (pictured left), currently global CEO of Gallagher Re, has made the decision to retire from Gallagher, effective June 1. He will not assume the newly promoted role of CEO, global insurance strategic relationships, within Gallagher.
“James Kent has confirmed his plans to retire from Gallagher with effect from June 1,” a Gallagher statement said. “While we are sorry to see him leave our firm, we respect his decision to take a well-deserved retirement following his successful career in the industry. He leaves with our thanks for all that he has achieved in his time with Gallagher and we wish him well for the future.”
In March, Kent expressed that his new strategic role would have allowed him “the opportunity to spend more time with key stakeholders to bring an integrated platform for future success.”
After serving as the CEO of Willis Re since 2017, Kent joined Gallagher in 2021 when it acquired Willis Towers Watson’s treaty reinsurance brokerage operations.
Kent was succeeded as global CEO of Gallagher Re in March by Tom Wakefield, who joined Gallagher in 2021 after a 17 year tenure at Aon.
Gallagher Re announced Monday (May 15) that it has appointed Ian Kerton (pictured right) to the role of CEO of the reinsurance broker’s UK operations, replacing Wakefield.
Kerton has been with Gallagher Re as a partner in its UK business since 2021. Prior to joining Gallagher, he was managing director of the UK property & casualty team at Guy Carpenter and a director of the UK board. Kerton has held multiple roles within the reinsurance industry over the last 30 years, including executive director at HSBC Insurance Brokers for 10 years where he headed up the treaty broking team and was responsible for its business in the UK & Asia.
Kerton will report to Wakefield who will assume the role of global CEO at Gallagher Re with effect from June 1.
Wakefield said: “Ian is a truly accomplished broker and leader who is well-respected by clients and colleagues alike. Since joining Gallagher Re, he has shown an unwavering focus on client-advocacy, combined with strategic business acumen and strong people leadership. He is absolutely the best candidate for this important leadership role and the fact that we have been able to recruit from within is testament to the incredible senior talent we have within Gallagher Re.”
Kerton commented: “Gallagher Re has undergone transformational change on a global scale since I joined the business two years ago and I am delighted to have been chosen to lead the UK team as we build out the next phase of our growth in the region. As a business, we have an unrivalled blend of expertise, talent, passion and ambition which has allowed us to create something truly special for clients and colleagues. I look forward to working with the team to continue to cultivate that point of difference and build on the huge momentum we have within the UK business.”
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