Global (re)insurance brokerage Gallagher announced that Jonathan Tuner will become CEO of its UK domiciles Specialty operations with current CEO, John Thompson taking on a new role as head of business development for the UK division.
As part of the internal leadership changes, Tom Downey will be promoted to CEO for Pen Underwriting, succeeding Turner having previously been chief underwriting officer for the division since 2017.
The new business development role reflects the significant growth in recent times within its Specialty segment which also includes the acquisition of JLT Global Aerospace team. This role will have a focus on talent acquisition, M&A opportunities, product development, and relationships with carriers and wholesale third party partners.
Simon Matson, CEO of Gallagher’s broking and underwriting business in the UK, said: “Our Specialty division has undergone considerable growth in the past 12 months and is now almost unrecognisable having doubled in size over the last five years and firmly establishing itself as a leading London Specialty Broker. Having a dedicated head of business development, particularly one with John’s broking experience, wholesale expertise and passion for growth, will ensure we take full advantage of the many opportunities our enlarged presence and portfolio gives us. Jonathan is an exceptional leader, as he has demonstrated during his three years as CEO of Pen, making him the natural choice to become the new CEO of our Specialty division and to lead the 950-strong team through the next phase of our growth strategy.”
Adding: “Our underwriting footprint has also undergone incredible change in the last decade. Five years ago we brought together 12 specialist MGAs to create a virtual insurer in Pen Underwriting, a business that we are incredibly proud of. As Chief Underwriting Officer, Tom has been at the centre of that transformation and is well deserving of this promotion to the top job as Chief Executive for Pen Underwriting. It speaks volumes about the quality of our senior leadership that we are making these senior team changes from within our own internal talent pool.”