Simon Behagg has been named as chief executive officer of Gallagher Re, with the current boss Rupert Swallow set to step down in February 2021.
Swallow has been the chief executive of Gallagher’s reinsurance arm, formerly called Capsicum Re, for the past seven years, and was a founding partner of the original business. He has led the transition of its team and operations into Gallagher’s UK broking division since it was acquired by Gallagher in January 2020.
Simon Matson, chief executive of Gallagher’s broking and underwriting businesses in Europe, Middle East and Asia, said the enormity of what Swallow and his team have achieved in seven years “cannot be underplayed.”
Swallow said he had achieved what he set out to do and was handing over the reins as the company begins the next phase of its growth.
“My mission has always been to build an outstanding reinsurance business, complete the sale of that business to our long-term partner, Gallagher, and ensure the safe onward transition of the team and our clients to their new home,” he said.
Gallagher Re, Capsicum Re, Simon Behagg, Rupert Swallow, Simon Matson