Canada Life Reinsurance has announced the upcoming retirement of Gabriel Kelly, a long-serving executive who has been with the company for 33 years.
Kelly, who has led LLCBC in Barbados as CEO for the past 19 years, previously held a senior role in the company’s Dublin office. Over his tenure, he played a key role in guiding the property and casualty (P&C) business through market challenges in the early 2000s, helping to expand the company’s catastrophe retrocession business and structured P&C portfolio.
“We are immediately grateful for Gabriel’s unwavering commitment, dedication and loyalty,” said Jeff Poulin, CEO of Canada Life Reinsurance. "His leadership has been a driving force behind our success, and we look forward to celebrating his extraordinary career as he approaches retirement."
Derek Popkes, Global COO Reinsurance, also acknowledged Kelly’s contributions. "It is an honor to have worked with Gabriel over the past 25 years. I could not be more excited about the prospects for the P&C business and team he has built," he said.
Eamon Loughnane has been named as Kelly’s successor to lead the Global P&C Business Unit. Loughnane, who previously led the company’s Life reinsurance business in Europe, is credited with developing a framework for assessing and executing new structures.
"I couldn't be more pleased to have Eamon take on this new role," said Poulin. "I have every confidence he will continue to build on our success and capitalize on the opportunities we have before us."
Kelly will remain in his role until March 30 and will stay on for three additional months to assist with the transition.
The leadership change comes at a time of growth for Canada Life Reinsurance. The company reported $210 million in earnings for the third quarter of 2024, accounting for 20% of parent company Canada Life Assurance’s total earnings.
Canada Life Reinsurance has also climbed to the fourth spot among global reinsurers, marking the first time a life-focused reinsurer has reached this position. Industry analysts attribute this rise to strong financial performance and strategic expansion efforts.
With Kelly’s departure and Loughnane’s appointment, the company is positioning itself for continued growth in the reinsurance sector, strengthening its global presence while maintaining a focus on innovation and long-term sustainability.
