Willis Re appoints new global CEO as Cavanagh steps down
Willis Re, the reinsurance business of broker Willis Towers Watson, has revealed that James Kent will succeed John Cavanagh as its global CEO.
Cavanagh will retire from Willis Towers Watson at the end of December 2017, handing over leadership of Willis Re to Kent, previously deputy global CEO.
Kent joined Willis Re in 2004 and has served as the global deputy CEO since December 2016. He was appointed president of North America in 2010, and before this ran the Willis Re Bermuda operations. Earlier in his career, he spent 13 years with Aon Re (now Aon Benfield).
Having started his re/insurance career in July 1975, Cavanagh has led the Willis Re business as chief executive officer since 2012. He joined Willis Re in 2009 having spent 21 years at the Carvill Group where he was joint CEO. Prior to this, he was the deputy managing director of Minet Re and a director of the North America reinsurance division at Willis Faber and Dumas.
Carl Hess, head of investment, risk and reinsurance, Willis Towers Watson, said: "I am pleased to confirm James Kent will take on the global leadership of Willis Re. He and John have worked side-by-side for many years and share the same passion and enthusiasm for the delivery of superior client results.
"I would like to thank John for his tremendous contribution to Willis Towers Watson. Not only is John a recognized leader of the Willis Re business, he is also a leading figure in the global reinsurance industry. John has been instrumental in creating the reinsurance business we have today and will leave a strong legacy."
Kent said: "I am honoured to have this opportunity to lead Willis Re. It has been a pleasure to work with John over the past few years to cement Willis Re’s position as one of the world’s leading reinsurance advisors. It is also appropriate that John’s significant contribution to our industry is recognized as it marks exactly 42 years to the day since he began his career in reinsurance. In succeeding John, I look forward to further enhancing our proposition to help clients effectively manage their risk while building on the collaborative culture so integral to our proposition for both clients and colleagues.”
Cavanagh commented: "It has been a privilege to serve as CEO of Willis Re, where we have successfully grown the business in the face of very tough market conditions. I am delighted that James Kent is taking over from me as global head; he is an exceptional talent and I have no doubt Willis Re will continue to go from strength to strength under his leadership. I have enjoyed a fantastic career in reinsurance broking, but it is now time to move on."
Don't miss our monthly insurtech email newsletter - sign up today
Today’s stories
AXIS Capital snaps up Novae for $604 million
AIG names former Marsh boss as global COO
Marsh appoints new CEO as Zaffino departs for AIG
Novae execs stress importance of scale as they succumb to AXIS overtures
Munich Re unveils senior promotions in US
Zurich elects Liès to succeed Swaan as chairman in 2018
Howden buys Spanish brokerage group Bergé
Beach poaches Aon Benfield exec to lead casualty treaty
RT Specialty hires former Chubb executive
Did you enjoy reading this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
