Gallagher Bassett has promoted Pete Diskin to the role of Chief Client Officer to spearhead innovative growth and retention strategies in its Australian business across all product lines and markets.

Mr Diskin will relocate to Brisbane from the UK, where he has held the same role since 2018 after 17 years locally with Gallagher Bassett Australia in operational, sales and leadership roles.

“I look forward to re-joining the high performing Australian team as we expand our footprint and product offerings,” Mr Diskin said.

The appointment comes after last month’s promotion of Pete Nicholson to the role of Australia CEO.

“Part of my timing to come home was the appointment of Mr Nicholson as CEO. That is a terrific appointment, I am really delighted he is there and I will be working closely with Pete and the executives in my role,” Mr Diskin tells insuranceNEWS.com.au

Mr Diskin, who remains Gallagher Bassett Executive Lead for the Lloyd’s of London market and will regularly visit the UK, plans to translate his skills and knowledge from international markets here.

“There is a natural crossover and both markets trade under similar governance and regulatory frameworks,” he said. “Reaching my 23rd year combined in both markets, I have seen the cycles and outcomes for our client’s both in soft and hardening environments, along with regulatory reform in personal injury and P&C lines.”

“We are firmly in a hardening cycle – it is hardening and at the same time I think coverage is diminishing in some aspects because of the risk appetite and the pandemic is changing the risk profile of our clients.

“They are grappling with changes in regulation, changes at a compliance level and then changes … as to whether insurers want to continue to write the business that they right now. It is a pretty tricky time for the world.”

UK and Australian markets are “inter-connected,” Mr Diskin says, with significant lines of Australian coverage insured or reinsured out of the London.