Global Deputy CEO James Kent will replace John Cavanagh as Global CEO of Willis Re at the end of this year.

Mr Cavanagh is to retire after 42 years in reinsurance.

Before joining Willis Re in 2009 he held executive reinsurance roles at RK Carvill, Minet Re and Willis Faber & Dumas. He has led Willis Re’s global operations since January 2012.

Mr Kent joined Willis Re in 2004 and was appointed Global Deputy CEO last December.

He was previously president of North America and ran Willis Re’s Bermuda operations. He also spent 13 years with Aon Re – now Aon Benfield.