Former Gallagher direct managing director appointed by private equity owner AnaCap
Brightside’s private equity owner AnaCap has replaced chief executive Paul Williams with Andrew Wallin, Insurance Times can reveal.
Wallin was previously managing director of Direct at Arthur J Gallagher. He and his boss Des O’Connor, managing director of Gallagher Insurance Solutions (GIS), resigned from Gallagher to join AnaCap in July.
Wallin will lead the day-to-day management of the group when he takes up the role in the new year. He will be charged with ensuring Brightside grows through new commercial relationships, increasing underwriting capacity, building new products, and acquisitions, the company said.
Brightside said Wallin had an “impressive track record for delivering sustainable, profitable growth.”
Wallin’s appointment comes two weeks after Brightside unveiled Ageas retail and distribution chief executive Mark Cliff as executive chairman.
Departing chief executive Williams was appointed in 2013, before AnaCap’s £127m takeover of Brightside in June this year.
Brightside said: “The company would like to thank him for his work building strong foundations for the growth of the business. He leaves Brightside group amicably and the board wish him well.”
AnaCap co-managing partner Peter Cartwright said: “We look forward to welcoming Andrew Wallin as chief executive. His experience in the UK insurance space and dynamism will help Brightside group grow to reach the its full potential.”
Wallin said: “I am looking forward to leading Brightside Group in the new year, this is an exciting business who which demonstrated the ability to be a significant player in the intermediated sector.
“The excellent growth and transformational track record of AnaCap as a financial services specialist shareholder, combined with the opportunities we have in consolidating Brightside’s position in this sector will deliver an exciting proposition to customers, capacity providers and staff alike.”