Capsicum Re has appointed Raja Balasuriya as its chairman of its executive committee as it prepares for its next phase of growth.
Balasuriya is a co-founder of Capsicum Re and was its first managing partner from 2014. He has led its UK motor and liability division since the company’s inception.
He succeeds fellow Capsicum Re founder Grahame Chilton in the role. Chilton will re-join Capricums’s parent company, Gallagher, as chairman, working alongside Tom Gallagher, chief executive of Gallagher’s global property and casualty broking business.
Matt FitzGerald, managing partner for property and specialty, and Alistair Lockhart-Smith, managing partner for marine and energy, were also named to the executive committee.
The changes mean Capsicum Re’s new executive committee includes Rupert Swallow, chief executive; Balasuriya; FitzGerald; Lockhart-Smith; Abbhi Bala, finance director; and Simon Behagg, chief operating officer.
Swallow said: “[Balasuriya] has always shared our vision and belief in being able to build – from the ground up – a fresh, new, entrepreneurial reinsurance broker with transactional expertise, innovation and client advocacy at its core.”
He added: “The scale of our ambition and untapped nature of many of the opportunities that lie ahead demand a close-knit but diverse core leadership team.”
Capsicum Re, Raja Balasuriya, Grahame Chilton, Gallagher, Matt FitzGerald, Alistair Lockhart-Smith, Rupert Swallow