James Kent, Chief Executive Officer (CEO) of global reinsurance broker Gallagher Re, is retiring from the company on June 1st, so will not be taking up his new role within Gallagher.
Back in March, the firm announced that Tom Wakefield would take over as CEO, with Kent set to transition into a new role within Gallagher, as CEO of Global Insurance Strategic Relationships.
But the company has confirmed that Kent has decided to leave the firm soon after he’d been handed the new role, with Wakefield assuming the Global CEO role effective June 1st, 2023.
In 2017, Kent took over as CEO of reinsurance broker Willis Re from John Cavanagh, having been with the firm since 2004, and holding the global deputy CEO position since December 2016.
Following Arthur J. Gallagher & Co.’s acquisition of the treaty reinsurance operations of Willis Towers Watson (WTW) in December 2021, Kent was appointed CEO of Gallagher Re.
Commenting on Kent’s departure, Gallagher said: “James Kent has confirmed his plans to retire from Gallagher with effect from 1 June. 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.”