Gallagher confirms new CEO for reinsurance business

Gallagher confirms new CEO for reinsurance business | Insurance Business New Zealand

Gallagher confirms new CEO for reinsurance business

There will soon be a new man at the helm of Gallagher’s reinsurance business, Gallagher Re.

Tom Wakefield (pictured), who previously made the switch from Aon, takes the helm, subject to regulatory approval. He steps into the role previously held by Simon Behagg, who transitions into a managing director position for the firm.

Wakefield is well-known in the industry for a 17-year tenure at Aon, where he was most recently COO for the Global Re marine, specialty and composite business. He also led the broker’s book of marine composite reinsurance business.

Now, he will look to further the reinsurer’s ongoing expansion. He will also join the UK executive committee, reporting to CEO Simon Matson.

“The evolution journey that sits behind Gallagher Re since its inception in 2013 is quite incredible,” said Matson. “Since becoming a fully owned part of Gallagher in 2020, the business has continued to deliver on its aggressive growth trajectory… and continued to attract a wealth of reinsurance talent, including Tom, on to the team.

“We are delighted to now have Tom step into the role of CEO at a time when Gallagher Re is set to embark on the most exciting chapter yet in the business’ remarkable growth story. However, while the Willis Re transaction progresses through the required regulatory processes, our focus remains on driving forward our existing Gallagher Re business strategy with Tom at the helm.”

Wakefield, meanwhile, described Gallagher Re’s rise as “something I have long admired.”

“I am excited to be joining such an innovative and entrepreneurial organisation and look forward to working alongside this hugely talented group of people to drive forward the business’s growth agenda and further expand and enhance our client offering,” he said.