Capsicum Re creates New York cyber hub
Capsicum Reinsurance Brokers (Capsicum Re), which has a major presence on Bermuda, has announced that its co-founder Grahame ‘Chily’ Chilton will rejoin the business later this year.
At the same time, Chilton will step down as the chief executive officer (CEO) of Arthur J Gallagher's UK-based brokerage and underwriting division, a role he assumed in February 2015, having worked in close partnership with Gallagher since December 2013 when reinsurance intermediary joint venture Capsicum Re was launched, led by Chilton as founding partner.
Capsicum Re said Chilton will work alongside CEO Rupert Swallow to drive global business development and help shape the strategic direction of the company as it enters its next phase of growth.
Chilton has more than 30 years of experience in the re/insurance industry. He was part of the management team that led the buy-out of Benfield in 1998. He became a director in 1986 having joined the group in 1982, from the then Marsh subsidiary CT Bowring.
Chilton was appointed CEO of the Benfield Group in 1996 and embarked on an expansion programme of organic growth and acquisitions that led to the company’s listing on the London Stock Exchange in 2003 and achieving a position in the FTSE 150. He also oversaw the sale of Benfield to Aon in 2008.
During his career as a reinsurance broker Chilton has traded in non-marine, marine and aviation reinsurance, motor, energy and direct retrocession business.
Swallow commented: “Capsicum Re has built a robust business, that has grown exponentially and we are on our way to becoming a top five global reinsurance broker. The whole Capsicum Re team is looking forward to welcoming Chily back and benefiting from his expertise and experience as both a sales leader and the relationship manager of our joint venture with Gallagher.”
Chilton said: “Rupert and the whole Capsicum Re team have done a stellar job taking the business forward to become one of the market’s leading reinsurance brokers in just five years. I have had a fantastic and truly rewarding time in my current role with Gallagher and look forward to re-joining Capsicum Re later this year and working with the team there to maximise the business’ further growth potential, which is significant.”
Capsicum Re, Grahame Chilton, Arthur J Gallagher, UK, London, Appointment, Reinsurance, Broking, Growth, Bermuda