Gallagher has announced the appointment of Michael Rea (pictured above) as the CEO of its UK broking and underwriting operations, pending regulatory approval.
This new role, effective from January 1, 2024, will see Rea leading Gallagher’s UK team of 6,000 employees, and managing the company’s retail, specialty, and underwriting divisions in the UK.
Rea, who joined Gallagher in 2015 as the COO of its international division, ascended to the role of CEO of Gallagher’s UK & Ireland retail division in 2016. His tenure has been marked by significant organic growth and expansion, driven by strategic mergers and acquisitions.
In a Press release, Gallagher noted that under his leadership, the broking giant has become one of the UK’s most prominent retail insurance broking businesses, with a team of over 4,000 managing the insurance and risk management needs of more than a million commercial and individual clients in the UK and Ireland.
The company's specialty division offers customised programme design, risk placement, and consulting services to large multinational firms and insurance brokers globally. Additionally, Pen Underwriting, part of Gallagher’s portfolio, operates as a multi-class, multi-territory managing general agent (MGA).
In his new role, Rea will have Jonathan Turner, CEO of Gallagher’s specialty division, and Tom Downey, CEO of Pen Underwriting, reporting directly to him as part of his UK leadership team. Ian Kerton, CEO of Gallagher Re in the UK, will continue reporting to Tom Wakefield, the global CEO of Gallagher Re, in addition to reporting to Rea concerning UK regulated business.
“Michael is one of the most respected and talented CEOs I have had the pleasure of working with. His commitment to ensuring his teams are always thinking about the client has ensured our Retail business is now synonymous with delivering exceptional customer service. I am delighted to see him take the helm of our wider UK business and I look forward to working with him as we continue to build on the fantastic success we have achieved over recent years,” Gallagher global brokerage operations EVP Simon Matson said.
In other recent developments, global reinsurance broker Gallagher Re has also announced the promotion of Mark Hansen to chief operating officer.
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