Global reinsurance broker Willis Re has announced that James Kent will replace John Cavanagh as Global Chief Executive Officer (CEO), when he retires at the end of December, 2017.
Kent joined Willis Re in 2004, and has held the position of Deputy Global CEO since December 2016. Prior to this, and from 2010, Kent was named President of North America, and he previously ran Willis Re’s Bermuda operations.
Commenting on his new role, Kent said; “I am honored 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.”
Head of Investment, Risk & Reinsurance, Willis Towers Watson, Carl Hess, added; “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.”
Cavanagh started his career in the reinsurance industry in 1975, and served as Willis Re CEO since 2012. He joined the firm in 2009 after 21 years with the Carvill Group, where he was joint CEO. He also worked with Minet Re and Willis Faber and Dumas.
“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,” continued Hess.
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. “
