james kent willis re salary
James Kent, Global CEO, Willis Re, said: "Reinsurance providers will be heartened by these results. The deal is not intended to create cost savings through significant numbers of layoffs as operations are combined, he said. The best way to contact us is through our online contact form which you can findhere. (Reporting by Gayathree Ganesan in Bengaluru). It was announced in August that Gallagher had reached an agreement to acquire all of the treaty operations of Willis Re from its parent for an initial gross consideration of $3.25 billion. Stay updated by joining our mailing list! He joined Willis Re in 2009 after spending 21 years at the Carvill Group, where he was joint CEO. Wakefield will lead the business through to the integration with Willis Re, at which point Willis Re CEO James Kent is expected to take on the Gallagher Re leadership, with Wakefield. So, Gallagher had some investments in businesses that have an ILS association. James J. Kent is a AL-03 under the administrative law judges payscale . WTW hires from Aon for corporate risk and broking role, 3. Well, it starts with exactly what James was talking about, the clients. With the completion of its acquisition of the treaty reinsurance business of Willis Towers Watson, Arthur J. Gallagher and its reinsurance unit Gallagher Re has an opportunity to accelerate sales of insurance-linked securities (ILS), its senior executives told Artemis. Or find and follow Reinsurance News on social media. Kent and his management team have significant work ahead of them that will make it hard for 2022 to. This is not a synergy play, this is an investment play, Mr. Gallagher said, noting that it is Gallaghers biggest acquisition to date. Willis Towers Watson Public Limited Company. Even in areas where there appears to be a concentration such as Latin America and Marine, the two businesses match up really well in having very different client profiles. Get reinsurance news by email here. Theres no more talk of if, and whos going to come and whos not. Gallagher struck a deal to acquire Willis Re for $3.25bn in August in the wake of the collapsed Aon-Willis Towers Watson merger. Between 2012 and 2015, he served as the regional CEO of Willis Asia, based in Singapore, leading Willis' strategy in high-growth markets in the region. Kent joined Willis Re in 2004 as Willis Re Bermuda executive vice president, bringing more than 15 years experience producing and placing property and casualty treaty business across both London and Bermuda. Sign up today for your free Reader Account. Reinsurance is at the heart of every retail clients need. They dont know it, but theyre not going to trade with the major carriers around the world without good reinsurance capabilities. Together, we will build upon our shared focus of outstanding service, expertise and client-centric culture. Arthur J. Gallagher & Co. on Wednesday completed its acquisition of Willis Re with a $3.25 billion payment that could rise to $4 billion depending on future revenue. During his time in Asia, he also spent 18 months in Shanghai, setting up Willis' China operation. said Friday that it has named Joe Peiser to succeed Matt Keeping as head of broking, North America, part of its corporate risk and broking segment. If that can be developed into a fully-integrated offering, it will benefit the group and provide synergistic opportunities to bring ILS capital more closely to its reinsurance clients, as well as embed ILS risk transfer within its broader insurance and reinsurance market product-set. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. ABOUT WILLIS TOWERS WATSONWillis Towers Watson (NASDAQ:WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. Travelers reports lower profit on higher cat losses; price hikes continue, 5. 07337195 Since then, Kent's salary has increased to $183,300 in 2021. Send us a Message. Alexis is accountable for supporting the company's short- and long-term success through oversight of operations, real estate and technology. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); The Head of Verisks Property Claim Services (PCS) business, Tom , Global data analytics and technology provider Verisk launched XactXpert, a , Reinsurance Association of America has elected Justin OKeefe chair, Jim . It feels that here we are at day one, at a billion dollar startup with tremendous market goodwill, tremendous loyalty by both clients and our colleagues, and the opportunity to build on all of those good things.. As chancellor of the New York Court of Chancery (1814-23), he is said to have made . Kent, who was previously co-president of Willis Re and president of Willis Re North America, took up the post with immediate effect. The acquisition of Willis Re creates a reinsurance brokerage approaching $1 billion in annualized revenue and makes Gallagher Re the worlds third-largest reinsurance brokerage. Gallagher Re feels like a billion dollar startup with a tremendous opportunity: James Kent & Pat Gallagher 1st December 2021 - Author: Luke Gallin With Arthur J. Gallagher's (AJG) acquisition of Willis Re's treaty reinsurance operations now complete, resulting in a much larger Gallagher Re, senior executives told Reinsurance News that it . Willis Towers Watson Public Limited Company. James Kent. Under John Cavanagh, Paddy Jago and the rest of the Willis Re leadership team, Willis Res development as a highly collaborative and client-focused business within the investment, risk and reinsurance arena continues to set it apart in the marketplace.. It was announced in August that Gallagher had reached an agreement to acquire all of the treaty operations of Willis Re from its parent for an initial gross consideration of $3.25 billion. There is not one person in this deal who is being asked to leave because we have an overlap. Reach the largest reinsurance audience. Wheres the profitability? Im proud of the fact that this team basically chose to become part of Gallagher. I think the key, and it really comes back to integration, is how do we best integrate that within the entirety of the Gallagher organization, and specifically Gallagher Re, to best serve our clients and make it most effective for our clients, in terms of new sales. 2,200 new colleagues and virtually everybody said yes, lets give this a go, said Gallagher. Steve Evans Ltd. registered in England No. Kent added: This combination marks a new chapter for two remarkable reinsurance broking teams as well as for our valued and extremely supportive clients and stakeholders. So, if we get those four things right, I feel that will underpin a business for the foreseeable future that will be very, very effective, said Kent. And to be part of that in a bigger way now, the opportunity for us to know downstream what are the concerns of the reinsurance model? Willis Re 1st View January 1, 2020 5 The imminent arrival of Brexit was not a topic, as German buyers adjusted their panels last year if required. Kent, who is the units deputy global CEO, takes over after Cavanagh retires in December. Tom Wakefield, a former Aon executive who was named CEO of Gallagher Re in June, will head Gallagher Res U.K. business and report to Mr. Kent and Simon Matson, CEO of Europe, the Middle East and Africa for Gallagher, Mr. Kent said. J. Patrick Gallagher, Jr., Chairman, President and CEO, commented: Id like to officially welcome our new reinsurance brokerage colleagues to the Gallagher family of professionals. In November, the UK's Competition and Markets Authority (CMA) ended its investigation into and cleared the planned acquisition, which has now completed. Aon names managing director, public sector partnership, 6. Search California public, government employee, workers salaries, pensions and compensation. Gallagher Re's new Global CEO, James Kent, expanded on this, "Like every business within the legacy Willis Re business, we're very proud of the offering and the team that exists, and the ILS . An average 36% of seven sample reinsurance placements of $500m or greater was placed with non-traditional reinsurance markets or using catastrophe bonds, Consistent with the 1.1 and 1.4 renewals pressure on pricing especially on loss In the past seven years, Gallagher Re has established itself as the fifth largest reinsurance broker in the world. ESG investment in insurance-linked securities (ILS), Monte Carlo Reinsurance Rendezvous Archives, Mortgage insurance-linked notes transactions, UCITS Catastrophe Bond Funds assets under management, Pension funds investing in insurance-linked securities (ILS), Indenture Trustee, Paying Agent & Escrow Agent Services, Weather Risk Management, Insurance & Trading, Artemis Live Video interviews & content, List of Reinsurer Capital Markets Activities, Cat Bond, ILS, Reinsurance Reading For Beginners. Gallagher says that the acquisition brings specialist expertise, underpinned by a portfolio of analytics capabilities including catastrophe modeling, dynamic financial analysis, rating agency analysis and capital modeling. Mr. Kent joined Willis Re in 2004 and has served as the global deputy CEO since December 2016. Website Privacy & Cookies and Disclaimer. That is all going to play a huge part, said Gallagher. What is collateralized (or collateralised) reinsurance? Get a ticket soon to ensure you can attend. Risk Strategies' acquisition expands benefits practice03-11-2021. Its really at the heart of everything that happens in this industry. We are bringing together highly complementary and well-respected reinsurance businesses to create a truly compelling unified reinsurance platform. For example, hurricane & loss. Kent pointed to Willis Re's record level of new business in 2020 and that it has hit a similar threshold in 2021, despite the ongoing uncertainty over its future. Of course, with any merger theres going to be integration and certain challenges that come with that. Kent joined Willis Re in 2004 and has served as the global deputy CEO since December 2016. Spinnaker targets debut catastrophe bond, $100m Mountain Re Ltd. catastrophe bonds, insurance-linked securities, insurance & reinsurance linked investments, Get our free email newsletters for weekly summaries & reminders of stories you may have missed. Looking further ahead, he highlighted four themes that will underpin the integration process that Gallagher Re goes through. Talk to a Willis team member today. Weve got a group that has come together on both sides. Register today for ILS Asia 2023, our next insurance-linked securities (ILS) market conference. Of course, it still isn't going to be plain sailing for new Gallagher Re CEO James Kent. Aon names managing director, public sector partnership, 6. People say why the big investment? To search specifically for more than one word, put the search term in quotation marks. He will report to Tom Gallagher, Gallaghers CEO of global property & casualty brokerage. And if thats right, then the investors are going to do extremely well. A Celebration of 25 years of Insurance-Linked Securitisation through 25 Landmark Deals, Insured Natural Catastrophe & Man-Made Disaster Loss Reports, ART, Collateralized & Alternative Reinsurance Topics, Catastrophe Options & Catastrophe Derivatives, Microinsurance & Weather or Catastrophe Index-Insurance, Introduction To Weather Trading, Derivatives, Futures, Weather Risk Management For Utilities & Energy, Weather Derivatives, Weather Risk Pricing & Structuring, Global Property Catastrophe Rate-On-Line Index Guy Carpenter, U.S. Property Catastrophe Rate-On-Line Index Guy Carpenter, Regional Property Catastrophe Rate-On-Line Index Guy Carpenter, the acquisition of Willis Re was announced, Inver Re hires PCS Johansmeyer as Global Head of Index, Best of Artemis, week ending April 30th 2023, ILW funds defensive positioning for 2022 hurricane season paid off: CNR CEO, Heritage secures Citrus Re 2023-1 cat bond at upsized $235m. LONDON, Aug. 07, 2015 (GLOBE NEWSWIRE) -- Willis Re, the reinsurance division of Willis Group Holdings plc (NYSE:WSH), the global risk advisory, re/insurance broking, and human capital and. If you are not familiar with these principles, here are some quick tips. Willis Re has promoted James Kent to the role of global deputy chief executive. Munich Re Specialty names Sabrina Hart president, CEO, COPYRIGHT 2023 BUSINESS INSURANCE HOLDINGS, WTW hires from Aon for corporate risk and broking role, Hub secures additional private-equity investment, Travelers reports lower profit on higher cat losses; price hikes continue, Aon names managing director, public sector partnership, Munich Re Specialty names Sabrina Hart president, CEO. or call us at 1-888-994-5547. To search specifically for more than one word, put the search term in quotation marks. Expanding on Kents comments around talent, Gallagher commended the tremendous effort of the executive and leadership team of Willis Re through the entire organisation for being able to keep the team together. He is a well-respected leader within this business and has played a significant role in shaping Willis Re over the past decade, particularly in driving the growth of our Bermuda and North America operations. This will limit your search to that combination of words. I will maintain my very strong ties and working relationships within North America, but having been part of the Willis Re global leadership team now for the past six years, my new role will enable me to further the already close relationships with my International and Specialty colleagues as we continue to build our client-focused business as part of Willis Towers Watson.. Kent, who was previously co-president of Willis Re and president of Willis Re North America, took up the post with immediate effect. I couldnt be more excited, he continued. Willis had been due to sell Willis Re to Gallagher as. AJ Gallagher has completed its acquisition of Willis Towers Watson's treaty reinsurance business. Kent stressed that the company had been "humbled" by clients' response in a turbulent market. And that includes attracting talent to the organization as well. A long-standing member of Willis Res global leadership team, Kent will retain his role as President of Willis Re North America and continue to work in New York alongside Willis Re North America CEO, Jim Bradshaw, to drive sales and growth efforts, produce business and maintain market and client relationships in the region, which has seen 50 percent market share growth over the past five years and now represents Willis Res largest business segment. Just one quarter in since the completion of the purchase of Willis Re by Gallagher, James talks to Mark Geoghegan about the prospects that new ownership and investment are going to deliver and why building a customer and market-facing ecosystem are fundamental. Add the product lines knowledge to the expertise, strength and depth that Willis Re brings around the world and its a really exciting combination, said Kent. The reinsurance portion of Gallagher now will be incredibly additive to what we are doing as a retailer, Mr. Gallagher said. While there are far fewer reinsurance brokerages operating, there will be opportunities for further acquisitions in that sector, Mr. Gallagher said. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Receive alert notifications by email for every article from Artemis as it gets published. Top Global Insurance & Reinsurance Brokers, Tom Johansmeyer leaves PCS to join reinsurance broker Inver Re as Global Head of Index, Verisk launches XactXpert to automate, accelerate property claims estimates review, Reinsurance Association of America elects chair, vice chair of board. The Gallagher CEO was speaking alongside new Gallagher Re CEO James Kent following the completion of the number-four broker's $3.25bn acquisition of Willis Re. The 6th Annual Dubai World Insurance Congress (DWIC) continues to reimagine the traditional conference. To search for a combination of terms, use quotations and the & symbol. What are traditional, non-traditional or alternative reinsurance? We will look to roll that out through Q1, and by the end of Q1 well have a combined structure and management team in place.. With roots dating to 1828, Willis Towers Watson has 39,000 employees in more than 120 territories. 07337195. With Arthur J. Gallaghers (AJG) acquisition of Willis Res treaty reinsurance operations now complete, resulting in a much larger Gallagher Re, senior executives told Reinsurance News that it feels like day one at a billion dollar startup. Hub secures additional private-equity investment, 4. Gallagher Res new Global CEO, James Kent, expanded on this, Like every business within the legacy Willis Re business, were very proud of the offering and the team that exists, and the ILS team is absolutely part of that. James Kent, (born July 31, 1763, Fredericksburgh, Putnam County, N.Y.died Dec. 12, 1847, New York City), jurist whose decisions and written commentaries shaped the inchoate common law in the formative years of the United States and also influenced jurisprudence in England and other common-law countries. BIs Article search uses Boolean search capabilities. Like everywhere else, we will be seeking to make investments in that business in talent to support what we have today and accelerate forward for tomorrow.. ABOUT WILLIS REOne of the world's leading reinsurance brokers, Willis Re is known for its world-class analytics capabilities, which it combines with its reinsurance expertise in a seamless, integrated offering that can help clients increase the value of their businesses. Get in touch directly using our contact form. Steve Evans Ltd. registered in England No. She joined WTW in 2003 and has held a number of senior leadership . 1. | Source: From January 2019 to December last year, Granholm reported earning at least $2 million, according to a financial disclosure she filed before becoming energy secretary. We have much better data and analytics for our clients, well know whats going on at the very base of the capital management structure, and well be able to use that in the retail market.. Or find and follow Reinsurance News on social media. Kent will retain his role as Willis Re North America president and will continue to work in New York alongside Jim Bradshaw. The deal comprises Willis Towers Watsons treaty reinsurance business. Gallagher has a long history of growing its retail operations through numerous small acquisitions. James Kent, Global CEO, Willis Re July 1, 2021 . The industry has endured several years of below-par performance, capped by the calamitous . He is a well-respected leader within this business and has played a significant role in shaping Willis Re over the past decade, particularly in driving the growth of our Bermuda and North America operations.. Secure your place at the event here! The deal . Search California public, government employee, workers salaries, pensions and compensation Stay updated by joining our mailing list! If you continue without changing your settings, we'll assume that you are happy to receive all cookies on this website (Cookie Policy). He will remain based in New York. As with any business, integration sounds very easy to say but youve got to put it into practice, and human beings are complex. The data and analytics that well receive now for our clients, and how well use that data and analytics, it just makes us stronger across the spectrum. Willis Re 1st View January 1, 2020 3 Property International Overview . See here for a complete list of exchanges and delays. But the point about the Willis Re team, it will be firmly embedded within the combined reinsurance businesses and I think theres a real opportunity for us to accelerate sales. Get in touch directly using our contact form. One is about combining the best of the two businesses.