Grahame "Chily" Chilton is stepping down from his role as CEO of AJ Gallagher’s UK-based brokerage and underwriting division later this year.

He will be succeeded by Simon Matson, who currently serves as head of Gallagher's London Market and Alesco businesses.

Chilton took the helm of the broker’s UK-based international brokerage operations in February 2015, having worked in close partnership with Gallagher since December 2013 to establish reinsurance broker Capsicum Re, led by Chilton as founding partner.

He was appointed as CEO of the Benfield Group in 1996, and subsequently led the management buyout of the reinsurance broker in 1998, eventually overseeing its sale to Aon in 2008.

He then became chairman of Aon Benfield as well as overseeing a number of the group’s broking units, before transitioning out of the business in 2012.

Gallagher chairman, president and CEO, Patrick Gallagher remarked: "Chily has been an outstanding broker and entrepreneur who has led our 4,500 strong UK broking and underwriting teams to achieve fantastic client service and growth. 

“Under his stewardship, the UK broking and underwriting business has become the blueprint for what a well-managed, well-governed, high performing and ethical business should look like."

He said that the broker has a “long history”of smooth and successful leadership changes, adding:"Chily's transition is no different, and I want to thank him for his leadership and tremendous contributions as he now hands over the leadership baton to Simon Matson.”

Meanwhile, Gallagher’s UK non-executive chairman Sue Langley said: “Simon has demonstrated his own exceptional broking and inspirational leadership credentials over the past 10 years with the company. 

“With Simon at the helm, we'll continue the strong growth and evolution of our UK broking and underwriting businesses.”

Chilton commented: “Gallagher is a superb business with a culture and genuine sense of teamwork like no other insurance broker.” 

“It has been a pleasure to work alongside the Gallagher UK executive team which is, in my opinion, the best in the business, and I know the team will continue to achieve great things under Simon’s leadership,” he concluded.