The 6th Annual Dubai World Insurance Congress (DWIC) continues to reimagine the traditional conference. Learn more at willistowerswatson.com. The deal is not intended to create cost savings through significant numbers of layoffs as operations are combined, he said. Kent joined Willis Re in 2004 and has served as the global deputy CEO since December 2016. Only email is mandatory, but the more you tell us about yourself the better we can serve you in future. 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Even in areas where there appears to be a concentration such as Latin America and Marine, the two businesses match up really well in having very different client profiles. Gallagher Re feels like a billion dollar startup with a tremendous opportunity: James Kent & Pat Gallagher 1st December 2021 - Author: Luke Gallin With Arthur J. Gallagher's (AJG) acquisition of Willis Re's treaty reinsurance operations now complete, resulting in a much larger Gallagher Re, senior executives told Reinsurance News that it . James Kent, global chief executive officer at Willis Re, said: "Such a solid development of the global reinsurance industry's capital base would hardly have been expected earlier last year, as the COVID pandemic was gathering pace. Kent immediately takes up his new role at Willis Re, working closely with global CEO John Cavanagh and global chairman Paddy Jago. Alexis Faber is the Chief Operating Officer at WTW. Willis Re global chief executive James Cavanagh described Kent as absolutely the right person to help further Willis Res global development. Gallagher Re has opportunity to accelerate ILS sales: James Kent & Pat Mr. Kent. The deal comprises Willis Towers Watsons treaty reinsurance business. Website Privacy & Cookies and Disclaimer. I do see tuck-in acquisition opportunities, and were always interested in creative people joining the firm, he said. Aon names managing director, public sector partnership, 6. Read more about Artemis. He is a well-respected leader within this business and has played a significant role in shaping Willis Re over the past decade, particularly in driving the growth of our Bermuda and North America operations.. 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 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 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 . Together, we will build upon our shared focus of outstanding service, expertise and client-centric culture. Its really at the heart of everything that happens in this industry. Weve got a group that has come together on both sides. Talk to a Willis team member today. 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.. Add the product lines knowledge to the expertise, strength and depth that Willis Re brings around the world and its a really exciting combination, said Kent. Willis Towers Watson Public Limited Company. WTW hires from Aon for corporate risk and broking role, 3. We will undertake an integration process now that the companies are together, Mr. Kent said in an interview. While it remains smaller than rivals Aon and Guy Carpenter & Co. LLC, a unit of Marsh & McLennan Cos. Inc., the three largest reinsurance brokers dwarf other reinsurance intermediaries in the market. John has been instrumental in creating the reinsurance business we have today and will leave a strong legacy., Mr. Kent said in a statement that he was honored to have this opportunity to lead Willis Re., In succeeding John, Mr. Kent said, 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.. This field is for validation purposes and should be left unchanged. James Kent, Global CEO, Willis Re January 1, 2020 . Global reinsurance capital, profits, and ROE on the rise in This is not a synergy play, this is an investment play, Mr. Gallagher said, noting that it is Gallaghers biggest acquisition to date. Willis Re 1st View July 1, 2021 3 Property Commentary by Territory Australia An orderly renewal with no material changes to wordings or conditions. J. Patrick Gallagher, Jr., Chairman, President and CEO, commented: Id like to officially welcome our new reinsurance brokerage colleagues to the Gallagher family of professionals. Kent will retain his role as Willis Re North America president and will continue to work in New York alongside Jim Bradshaw. And Im very proud of that. What are traditional, non-traditional or alternative reinsurance? The industry has endured several years of below-par performance, capped by the calamitous . | Source: Looking further ahead, he highlighted four themes that will underpin the integration process that Gallagher Re goes through. We are bringing together highly complementary and well-respected reinsurance businesses to create a truly compelling unified reinsurance platform. November 28, 2016 12:42 ET I am incredibly proud to be leading Gallagher Re into its next phase of growth.. Of course, with any merger theres going to be integration and certain challenges that come with that. James Kent, Global CEO, Willis Re, said: "Reinsurance providers will be heartened by these results. Reach the largest reinsurance audience. 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. Global reinsurance capital increases 15% in 2019 James Kent, Willis Re's global CEO, said the analysis underlines the reinsurance industry's sensitivity to investment markets. Highest-paid insurance executives 2023, 2. He will help in leading global business production, client. Willis Towers Watson P.L.C. April Reinsurance Renewal Pricing 'More of the Same,' Reports Willis Re 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. With the completion of its acquisition of the treaty reinsurance business of Willis Towers Watson, Arthur J. Gallagher and its reinsurance unit Gallagher Re has an opportunity to accelerate sales of insurance-linked securities (ILS), its senior executives told Artemis. Together with Gallaghers existing reinsurance business, the combined operation will trade as Gallagher Re from over 70 offices across 31 countries and incorporate around 2,400 colleagues. Website Privacy & Cookies and Disclaimer. To search for a combination of terms, use quotations and the & symbol. Discover our wide range of surface material solutions with our sales team. Kent began working at the Social Security Administration in 2011 with a starting salary of $118,612. Wakefield confirmed as CEO of Gallagher Re prior to Willis Re merger Online since 1999, Artemis provides news, analysis & data on catastrophe bonds, insurance-linked securities & alternative reinsurance capital.. 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. Hub secures additional private-equity investment, 4. From January 2019 to December last year, Granholm reported earning at least $2 million, according to a financial disclosure she filed before becoming energy secretary. For group CEO Gallagher, this is another seminal moment for AJG. James J. Kent is a AL-03 under the administrative law judges payscale . The data and analytics that well receive now for our clients, and how well use that data and analytics, it just makes us stronger across the spectrum. You combine that leadership team and the team from Willis Re, and it is a one plus one equals five. 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. If you are not familiar with these principles, here are some quick tips. But I genuinely see the two businesses as very complementary, he added. Kent joined Willis Re in 2004 as Willis Re Bermuda executive vice president, bringing more than 15 . WTW hires from Aon for corporate risk and broking role, 3. 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 . 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. An average 36% of seven sample reinsurance placements of $500m or greater was placed with non-traditional reinsurance markets or using catastrophe bonds, 1. The deal will also enhance Gallaghers insurance brokerage operations, said J. Patrick Gallagher Jr., chairman, president and CEO of Gallagher. 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. PDF January 1, 2020 - WTW Get in touch directly using our contact form. Mr. Cavanagh has been CEO at Willis Re since 2012. 15 March 2023 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. They dont know it, but theyre not going to trade with the major carriers around the world without good reinsurance capabilities. 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. And that includes attracting talent to the organization as well. Where are people taking larger retentions, and why? Theres no more talk of if, and whos going to come and whos not. He will report to Tom Gallagher, Gallaghers CEO of global property & casualty brokerage. 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. Since then, Kent's salary has increased to $183,300 in 2021. MOVES-Willis Re names James Kent CEO | Reuters I am confident the combination will deliver tremendous value to our clients, our global brokerage and risk management teams, and our shareholders.. 36% of $500m+ reinsurance placements are non-traditional capital - ARTEMIS Whats happening with accumulations? 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. Catastrophe bonds, insurance linked securities, reinsurance capital & investment, risk transfer intelligence. As an executive producer and owner of a percentage of the show's backend equity, he has earned north of $50 million on syndication deals to date." Kent, who was previously co-president of Willis Re and president of Willis Re North America, took up the post with immediate effect. Get reinsurance news by email here. All content copyright Steve Evans Ltd. 2021 All rights reserved. If you are not familiar with these principles, here are some quick tips. Kent, who was previously co-president of Willis Re and president of Willis Re North America, took up the post with immediate effect. Now theyve landed, the waiting period is over. During his time in Asia, he also spent 18 months in Shanghai, setting up Willis' China operation. Of course, it still isn't going to be plain sailing for new Gallagher Re CEO James Kent. For example, hurricane & loss. Our Leadership - WTW - Willis Towers Watson Because that is what they had, they had a lot of choices down to the individual level, and for all of those new colleagues to say, yes, lets give it a go as Gallagher Re, I couldnt be prouder, said Gallagher. Inside P&C is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730, Book a call with a member of the team to discuss your subscription options, Hubs valuation: A shiver passes through the private broking sector, CNA Q1 reserve charge linked to exited London PL book: CEO Robusto, Need to Know: AIG, Hub investment, Aon results, CinFins severe convective storm exposure led to high cat losses: CEO Johnston, Gain your competitive advantage with Inside P&C. Its all about how do we take this thing forward as quickly as we can, said Gallagher.
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james kent willis re salary