Grahame Chilton will return in a business development role to the company he founded in 2013

Outgoing AJ Gallagher UK chief executive Grahame Chilton will return to a role at Capsicum Re once he officially steps down later this year.

Chilton founded Capsicum Re alongside its current chief executive Rupert Swallow in 2013.

After leaving Gallagher he will work alongside Swallow to drive global business development and help shape the strategic direction of the company as it enters its next phase of growth.

Grahame chilton

Grahame Chilton

Swallow said: “Capsicum Re has built a robust business, that has grown exponentially and we are on our way to becoming a top five global reinsurance broker.

“The whole Capsicum Re team is looking forward to welcoming Chily back and benefiting from his expertise and experience as both a sales leader and the relationship manager of our joint venture with Gallagher.”

Chilton, who will be replaced at Gallagher by Simon Matson later this year, will also continue in his role as chairman at Capsicum Re.

Capsicum Re works with Gallagher as its reinsurance partner.

Chilton added: “Rupert and the whole Capsicum Re team have done a stellar job taking the business forward to become one of the market’s leading reinsurance brokers in just five years.

“I have had a fantastic and truly rewarding time in my current role with Gallagher and look forward to re-joining Capsicum Re later this year and working with the team there to maximise the business’ further growth potential, which is significant.”