Barents Re announces major executive shift – new CEO

Two key leaders tapped for integral roles

Barents Re announces major executive shift – new CEO


By Kenneth Araullo

To bolster its executive team, Barents Re has announced a significant reshuffle pending final approval from the Cayman Islands Monetary Authority.

As part of the shuffle, Gary Callaghan has been elevated to the position of chief executive officer (CEO). Callaghan, an industry stalwart, was previously head of business development and retrocession at Barents Re for more than two years, leading up the practice for Europe, Middle East, Africa, Latin America, and Asia.

Since 2019, Callaghan has also held a board member, managing director position for Barents Re. Prior to his tenure with the Cayman reinsurer, he also held previous roles at Sompo Canopius, Willis Re, Aon Re, Benfield, and Alexander Howden Reinsurance Brokers (now Aon).

In addition to Callaghan’s new position, Gerardo Garcia has taken on the role of executive chairman, which tasks him with leveraging his experience and knowledge to provide strategic guidance and direction.

Garcia was previously the CEO for Barents Re, a role he held for two lengthy tenures: the first in 1996, and the second in 2015. Prior to this, he also held roles at Nacional de Seguros Colombia, Canal Bank, Fianzas Avanza, Arden & Price, and Ultimus Financial.

“Barents Re Reinsurance Company, Inc., would like to extend its heartfelt congratulations to Gary and Gerardo for their new roles, and wish great accomplishments and continued growth,” the company said in a news release.

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