For example, workers compensation. James Kent. To search specifically for more than one word, put the search term in quotation marks. Willis Re 1st View January 1, 2020 3 Property International Overview . Discover our wide range of surface material solutions with our sales team. Willis Re names global deputy CEO | Insurance Business UK In 2021, James J. Kent was an Administrative Law Judge at the Social Security Administration in Lansing, Michigan. Prior to the Willis Re acquisition, Gallagher Re was the worlds fifth-largest reinsurance brokerage. PDF Table of contents - Wtwco.com He will help in leading global business production, client. James Kent appointed to lead Willis Re as global CEO Gallagher Re will be led by former Willis Re CEO James Kent as global reinsurance CEO. WTW hires from Aon for corporate risk and broking role, 3. He will report to Tom Gallagher, Gallaghers CEO of global property & casualty brokerage. Willis Re has promoted James Kent to the role of global deputy chief executive. "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. (Reporting by Gayathree Ganesan in Bengaluru). or call us at 1-888-994-5547. 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. To search for a combination of terms, use quotations and the & symbol. Gallagher Re has strengths in many business lines, and whether thats mortgage, cyber, UK motor, PA or specialty lines, they are a really good fit with the existing Willis Re footprint. Theres no more talk of if, and whos going to come and whos not. Its not just reinsurance. Im proud of the fact that this team basically chose to become part of Gallagher. Willis Re combines global expertise with on-the-ground presence and local understanding. The industry has endured several years of below-par performance, capped by the calamitous . As with any business, integration sounds very easy to say but youve got to put it into practice, and human beings are complex. 07337195 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 . Gallagher Re now has an exciting opportunity to evolve its reinsurance broking and ILS management offerings, to now incorporate the ability to structure and sell securities issuances. Following a successful tenure leading Willis Re's Bermuda office, in 2010, Kent was appointed President of Willis Re North America, moving to New York to work alongside Willis Re North America . Send us a Message. Her industry expertise spans more than 20 years in insurance and financial services. Wakefield will lead the business through to the integration with Willis Re, at which point Willis Re CEO James Kent is expected to take on the Gallagher Re leadership, with Wakefield. Website Privacy & Cookies and Disclaimer. Gallagher says that the acquisition brings specialist expertise, underpinned by a portfolio of analytics capabilities including catastrophe modeling, dynamic financial analysis, rating agency analysis and capital modeling. Sign up today for your free Reader Account. Travelers reports lower profit on higher cat losses; price hikes continue, 5. And as long as that remains, we are going to get there in terms of a really, really strong integration process and bringing out whats best again for those two constituents, our clients and our colleagues.. While there are far fewer reinsurance brokerages operating, there will be opportunities for further acquisitions in that sector, Mr. Gallagher said. WTW hires from Aon for corporate risk and broking role, 3. And the fourth is about talent; its about providing a platform where colleagues want to work, where they want to stay, where they see their long-term career aspirations. Willis Towers Watson Public Limited Company. Online since 1999, Artemis provides news, analysis & data on catastrophe bonds, insurance-linked securities & alternative reinsurance capital.. Willis Re Announces Senior Leadership Appointments - GlobeNewswire Aon names managing director, public sector partnership, 6. Get in touch directly using our contact form. Talk to a Willis team member today. J. Patrick Gallagher. If that can be developed into a fully-integrated offering, it will benefit the group and provide synergistic opportunities to bring ILS capital more closely to its reinsurance clients, as well as embed ILS risk transfer within its broader insurance and reinsurance market product-set. See here for a complete list of exchanges and delays. I am confident the combination will deliver tremendous value to our clients, our global brokerage and risk management teams, and our shareholders.. Willis Re's analysis provides clear evidence of the strength and resilience of reinsurance market capacity. Its really at the heart of everything that happens in this industry. 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. 07337195 Or, email[emailprotected]with any questions, suggestions or advertising enquiries. We will undertake an integration process now that the companies are together, Mr. Kent said in an interview. Top Global Insurance & Reinsurance Brokers, Tom Johansmeyer leaves PCS to join reinsurance broker Inver Re as Global Head of Index, Verisk launches XactXpert to automate, accelerate property claims estimates review, Reinsurance Association of America elects chair, vice chair of board. ABOUT WILLIS TOWERS WATSONWillis Towers Watson (NASDAQ:WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. 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. AJG's Kent to hand reins to Wakefield as he takes on group carrier Get reinsurance news by email here. 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. As our readers will be aware, AJG has completed an enormous amount of acquisitions since its inception in 1927, and while some will have been more challenging than others, Gallagher explained that theres minimal conflict with the Willis Re deal. What is collateralized (or collateralised) reinsurance? 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. Learn more at willistowerswatson.com. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. 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. Both Kent and Gallagher foresee numerous opportunities for the now much bigger Gallagher Re, including the mix of talent between the two organisations and also the way the businesses complement each other. Ahead of this years RVS, Willis Re gobal chief executive John Cavanagh talked to Global Reinsurance about the WTW merger, disruption and the need to be proactive, Published by Newsquest Media Group Limited, registered in England & Wales with number 01676637 at Loudwater Mill, Station Road, High Wycombe HP10 9TY - a Gannett company, DWIC, 8 and 9 March 2023, Ritz Carlton DIFC, Dubai. Well, it starts with exactly what James was talking about, the clients. Willis Re makes James Kent global deputy chief executive Willis Towers Watson Public Limited Company. Just one quarter in since the completion of the purchase of Willis Re by Gallagher, James talks to Mark Geoghegan about the prospects that new ownership and investment are going to deliver and why building a customer and market-facing ecosystem are fundamental. Of course, it still isn't going to be plain sailing for new Gallagher Re CEO James Kent. Global re/insurance broker Arthur J. Gallagher & Co. has completed its previously announced acquisition of the treaty reinsurance operations of rival Willis Towers Watson (WTW). This will limit your search to that combination of words. Our primary focus is oncatastrophe bonds, insurance-linked securities,alternative reinsurance capital,insurance & reinsurance linked investments. Our Leadership - WTW - Willis Towers Watson As chancellor of the New York Court of Chancery (1814-23), he is said to have made . As weve explained before, Gallagher already has specific ILS, catastrophe bond and collateralized reinsurance expertise in its broking teams and its insurance management unit Artex, which of course owns ILS leading facilitator Horseshoe. Its all about how do we take this thing forward as quickly as we can, said Gallagher. Mr. Kent. Munich Re Specialty names Sabrina Hart president, CEO, COPYRIGHT 2023 BUSINESS INSURANCE HOLDINGS, WTW hires from Aon for corporate risk and broking role, Hub secures additional private-equity investment, Travelers reports lower profit on higher cat losses; price hikes continue, Aon names managing director, public sector partnership, Munich Re Specialty names Sabrina Hart president, CEO. This field is for validation purposes and should be left unchanged. Search California public, government employee, workers salaries, pensions and compensation. Willis - Distributor of Corian, Lapitec, Fenix, Arpa, Kohler design Arthur J. Gallagher & Co. on Wednesday completed its acquisition of Willis Re with a $3.25 billion payment that could rise to $4 billion depending on future revenue. If you are not familiar with these principles, here are some quick tips. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); The Head of Verisks Property Claim Services (PCS) business, Tom , Global data analytics and technology provider Verisk launched XactXpert, a , Reinsurance Association of America has elected Justin OKeefe chair, Jim . The deal will also enhance Gallaghers insurance brokerage operations, said J. Patrick Gallagher Jr., chairman, president and CEO of Gallagher. Aon names managing director, public sector partnership, 6. Munich Re Specialty names Sabrina Hart president, CEO, COPYRIGHT 2023 BUSINESS INSURANCE HOLDINGS, WTW hires from Aon for corporate risk and broking role, Hub secures additional private-equity investment, Travelers reports lower profit on higher cat losses; price hikes continue, Aon names managing director, public sector partnership, Munich Re Specialty names Sabrina Hart president, CEO. AJ Gallagher has completed its acquisition of Willis Towers Watson's treaty reinsurance business. Prior to this, he held regional CEO roles in Continental Europe and Australasia. Get in touch directly using our contact form. Willis Re has promoted James Kent to the role of global deputy chief executive. For more information, visit willisre.com. We have 220,000+ readers every month & 19,000+ email subscribers. Arthur J. Gallagher & Co. on Wednesday completed its acquisition of Willis Re with a $3.25 billion payment that could rise to $4 billion depending on future revenue. To search specifically for more than one word, put the search term in quotation marks. This is according to AJG Chairman, President and CEO Pat Gallagher and James Kent, the new Global Chief Executive Officer (CEO) of Gallagher Re, who spoke with Reinsurance News about the successful acquisition and what this means going forwards. The hope is that these additions will immediately provide exceptional value to insurance carriers and insurance capital providers around the world. Read more about Artemis. For group CEO Gallagher, this is another seminal moment for AJG. We were a big ILS player before this, not in the security side, but the two marry up very, very nicely, AJG CEO Pat Gallagher told us. Search California public, government employee, workers salaries, pensions and compensation Stay updated by joining our mailing list! James Kent, Global CEO, Willis Re, said: "Reinsurance providers will be heartened by these results. That means the AJG group has already been quite active in ILS, but now with the assumption of the Willis Re Securities team and its expertise in structuring and selling ILS and catastrophe bond securities, as well as capital raising, the company now has a holistic ILS market offering. He will remain based in New York. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); The Head of Verisks Property Claim Services (PCS) business, Tom , Global data analytics and technology provider Verisk launched XactXpert, a , Reinsurance Association of America has elected Justin OKeefe chair, Jim . We have 220,000+ readers every month & 19,000+ email subscribers. Theres no winners and losers here. James J. Kent is a AL-03 under the administrative law judges payscale . This is not like that at all. Willis Re 1st View January 1, 2020 5 The imminent arrival of Brexit was not a topic, as German buyers adjusted their panels last year if required. Gallagher struck a deal to acquire Willis Re for $3.25bn in August in the wake of the collapsed Aon-Willis Towers Watson merger. Kent will retain his role as Willis Re North America president and will continue to work in New York alongside Jim Bradshaw. Travelers reports lower profit on higher cat losses; price hikes continue, 5. Website Privacy & Cookies and Disclaimer. You combine that leadership team and the team from Willis Re, and it is a one plus one equals five. A long-standing member of Willis Res global leadership team, Kent will retain his role as President of Willis Re North America and continue to work in New York alongside Willis Re North America CEO, Jim Bradshaw, to drive sales and growth efforts, produce business and maintain market and client relationships in the region, which has seen 50 percent market share growth over the past five years and now represents Willis Res largest business segment. Reinsurance is at the heart of every retail clients need. James Kent | American jurist | Britannica Willis Towers Watson Public Limited Company There is not one person in this deal who is being asked to leave because we have an overlap. The second is real and proper connectivity between our product and practice groups in our regions, so that youre delivering that knowledge and expertise right across the globe, irrespective of where it sits. November 28, 2016 12:42 ET View all state and local government entities Hub secures additional private-equity investment, 4. Im talking to retailers every day about why they should be excited about this deal, the position that it puts us in and why that benefits the retail middle market client, he continued. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Receive alert notifications by email for every article from Artemis as it gets published. We have much better data and analytics for our clients, well know whats going on at the very base of the capital management structure, and well be able to use that in the retail market.. Kent joined Willis Re in 2004 and has served as the global deputy CEO since December 2016. What are insurance-linked securities (or ILS)? 2011-2021 salaries for San Francisco | Transparent California I think when we look back on this in years to come well say that it was one of the greatest things that the organization ever did, both for our clients and for our people. Now the combination is finalised, Kent stressed that from day one, the focus has to be on taking the best of the culture of both organizations and bringing that and making it an even better culture on a combined basis. This site, like many others, uses small files called cookies to ensure that we give you the best experience on our website. We will look to accelerate that through Q1, with a structure announcement and management team announcement by the end of the quarter, said Kent. James Kent appointed to lead Willis Re as global CEO All content copyright Steve Evans Ltd. 2021 All rights reserved. Kent added: This combination marks a new chapter for two remarkable reinsurance broking teams as well as for our valued and extremely supportive clients and stakeholders. Under John Cavanagh, Paddy Jago and the rest of the Willis Re leadership team, Willis Res development as a highly collaborative and client-focused business within the investment, risk and reinsurance arena continues to set it apart in the marketplace.. Kent and his management team have significant work ahead of them that will make it hard for 2022 to. I couldnt be more excited, he continued. But I genuinely see the two businesses as very complementary, he added. 36% of $500m+ reinsurance placements are non-traditional capital - ARTEMIS Our Standards: The Thomson Reuters Trust Principles. Kent, who is the units deputy global CEO, takes over after Cavanagh retires in December. Secure your place at the event here! What are traditional, non-traditional or alternative reinsurance? March 15, 2023 James Kent (L) and Tom Wakefield (R) AJ Gallagher has named global CEO of Gallagher Re James Kent to a new group role in which he will lead the broker's strategic relationships with its most important (re)insurance partners, with Tom Wakefield set to succeed him in his current role. Looking further ahead, he highlighted four themes that will underpin the integration process that Gallagher Re goes through. For example, hurricane & loss. BIs Article search uses Boolean search capabilities. 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. So, Gallagher had some investments in businesses that have an ILS association. Kent said: Willis Re is a fantastic business and I very much look forward to working more closely with Paddy, John and the rest of the Willis Re leadership team in a global capacity to take this business forward. One is about combining the best of the two businesses. Gallagher Re has opportunity to accelerate ILS sales: James Kent & Pat That is all going to play a huge part, said Gallagher. James Kent, Willis Re's global CEO, said the analysis underlines the reinsurance industry's sensitivity to investment markets. This will limit your search to that combination of words. Get reinsurance news by email here. Kent explained that while theres been a ton of integration work on the operational side to bring these two entities together, the reinsurance business integration starts now. Willis Re serves the risk management and risk transfer needs of a diverse, global client base that includes all of the world's top insurance and reinsurance carriers as well as national catastrophe schemes in many countries around the world. Speaking in an interview with Artemis just after the acquisition of Willis Re was announced, new Global CEO of Gallagher Re James Kent and AJG CEO Pat Gallagher, explained that the insurance-linked securities (ILS) business offering of Willis Re Securities is a key area of opportunity. Additional notes: Kent joined Willis Re in 2004 as Executive Vice President, Willis Re Bermuda, bringing more than 15 years experience producing and placing Property and Casualty treaty business across both London and Bermuda. Its facultative reinsurance business, which is part of its retail brokerage operations, was not included. Kent joined Willis Re in 2004 as Willis Re Bermuda executive vice president, bringing more than 15 . And Im very proud of that. Top Global Insurance & Reinsurance Brokers, the UKs Competition and Markets Authority (CMA) ended its investigation, Tom Johansmeyer leaves PCS to join reinsurance broker Inver Re as Global Head of Index, Verisk launches XactXpert to automate, accelerate property claims estimates review, Reinsurance Association of America elects chair, vice chair of board. Weve got a group that has come together on both sides. For the final seasons, he earned $400,000 per episode. All content copyright Steve Evans Ltd. 2021 All rights reserved. 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. James Kent to lead Gallagher Re as acquisition of Willis Re completes James Kent, global CEO of Willis Re, said the market "landscape has not seen much change" since January 1 and consequently the important April 1 renewals "saw more of the same between . He was appointed to the additional role of Co-President, Willis Re, in August 2015. Our unique perspective allows us to see the critical intersections between talent, assets and ideas the dynamic formula that drives business performance. "The truth is, there's been a . Gallagher completes $3.25 billion Willis Re buy This is not a synergy play, this is an investment play, Mr. Gallagher said, noting that it is Gallaghers biggest acquisition to date. Highest-paid insurance executives 2023, 2. Gallagher Re feels like a billion dollar startup with a tremendous PDF January 1, 2020 - WTW James Kent named Willis Re Global Deputy CEO Global reinsurance capital, profits, and ROE on the rise in
