Specialist reinsurance broker Capsicum Re has boosted its executive committee, while also naming a new chairman, as it eyes further growth.
Taking the hotseat is Raja Balasuriya, who was a co-founder of the firm back in 2014. He has played a key role in the firm ever since and helped grow its UK motor and liability division. Now he succeeds fellow founder Grahame Chilton, who is set to return to the wider Gallagher business working with Tom Gallagher, CEO of Gallagher’s global property and casualty broking business, in the role of chairman.
“By anyone’s estimation, Raja is one of the top reinsurance market producers,” said CEO Rupert Swallow. “Together with his team and clients, he represents a significant share of the total book of motor reinsurance purchased here in the UK. More than that, Raja 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.
“We’re absolutely delighted to have him as our chairman as we embark on the next major development phase for the business. His knowledge, insight and pioneering qualities will be incredibly valuable as we look to realise our strategic growth ambitions internationally. And, as the specialist reinsurance arm of one of the world’s largest insurance brokers, those ambitions are big, bold and almost boundless.”
The broker’s new ExCo is now made up of: Rupert Swallow (CEO); Raja Balasuriya (chairman); Matt FitzGerald (managing partner, Property & Specialty); Alistair Lockhart-Smith (managing partner, Marine & Energy); Abbhi Bala, (finance director); and Simon Behagg (chief operating officer).
