International (re)insurance broker, Gallagher has announced the appointment of Simon Behagg as CEO of Gallagher Re.

Behagg will assume the role from February 2021 taking over from current CEO, Rupert Swallow, who has held the position of CEO for seven years and was founding partner of the original business Capsicum Re before it was acquired and rebranded to Gallagher Re.

Since the acquisition, Swallow has led the transition of the 180-strong reinsurance broking team and its operations into Gallagher’s UK broking division.

Meanwhile, Behagg, has served as chief operating officer at Gallagher Re since 2014.

Simon Matson, CEO of Gallagher’s broking and underwriting businesses in Europe, Middle East & Asia, commented: “The enormity of what has been achieved by Rupert and the team in just seven years cannot be underplayed. Gallagher Re has grown from a small start-up operation to become the world’s 5th largest reinsurance broker with a hugely talented team of individuals who are now an important part of our growing Gallagher family. I’d personally like to thank Rupert for everything he has done to lead, shape and grow the business over the past seven years and wish him every success for the future.”

Swallow said: “It has been an incredible journey for Gallagher Re and I could not be prouder of what we have achieved as a team since we set up the business seven years ago. 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. Having now completed the final stages of that full integration into Gallagher, I have achieved what I set out to do and confidently hand over the reins of this extraordinary business as it moves in to its next phase of growth.”