Gallagher has announced the appointment of Simon Behagg as Chief Executive Officer (CEO) of its global reinsurance business, Gallagher Re.
From February 2021, Behagg will take over the role from current CEO Rupert Swallow, who has headed Gallagher Re for the past seven years and was a founding partner of the original business, then called Capsicum Re.
Since the business was fully acquired by Gallagher in January 2020, Swallow has led the transition of the 180-strong reinsurance team and its operations into Gallagher’s UK broking division.
This has included the rebrand of the business to Gallagher Re in October 2020, the final stage in the 12 month-long integration plan.
Behagg, meanwhile, has served as Chief Operating Officer (COO) at Gallagher Re since 2014.
“The enormity of what has been achieved by Rupert and the team in just seven years cannot be underplayed,” said Simon Matson, CEO of Gallagher’s broking and underwriting businesses in Europe, Middle East & Asia.
“Gallagher Re has grown from a small start-up operation to become the world’s 5th largest reinsurance broker with a hugely talented team of individuals who are now an important part of our growing Gallagher family,” Matson continued.
“I’d personally like to thank Rupert for everything he has done to lead, shape and grow the business over the past seven years and wish him every success for the future.”
Swallow also commented: “It has been an incredible journey for Gallagher Re and I could not be prouder of what we have achieved as a team since we set up the business seven years ago.”
“My mission has always been to build an outstanding reinsurance business, complete the sale of that business to our long-term partner, Gallagher, and ensure the safe onward transition of the team and our clients to their new home.”
Swallow added: “Having now completed the final stages of that full integration into Gallagher, I have achieved what I set out to do and confidently hand over the reins of this extraordinary business as it moves in to its next phase of growth.”