Gallagher poaches ex-JLT managing director

Arthur J Gallagher has appointed Simon Ravinet as an executive director of its binders and facilities division.

Ravinet was previously managing director of facilities at Thistle Insurance Services, which is owned by JLT.

Market sources estimate that Ravinet will bring premiums with a value of about £25m after Gallagher reached a financial settlement with JLT to free him of his contractual commercial obligations.

At Gallagher, he will specialise in arranging and managing UK binding authorities and report into Chris Hardcastle, managing director of Gallagher’s binding authority division.

“We’re delighted because Simon is an important broker in the market for UK coverholder business. In additional to welcoming him and his customers, we’re excited because it makes a statement about where our team is heading too,” Hardcastle told Insurance Times.

Hardcastle declined to name the business that was joining with Ravinet, but said it included UK commercial  lines and personal lines specialist coverholders “all of whom are quite well respected in their own right”.

“The joy with Simon is that he’s someone with expertise and a non-conflicting customer base,” he said.

Gallagher’s international binders division is on a growth trajectory and Hardcastle said it is on track to place £450m of premium in London this year – up from £380m in 2012 and a projection of £550m next year.

“Gallagher is an acquisitive company, but it’s important we grow organically at least at the same pace as we do by acquisition,” Hardcastle said.

Ravinet said: “Arthur J Gallagher is an exciting and dynamic company in the London market. I’m looking forward to working with Chris and my colleagues, benefitting from their expertise and hoping they can benefit from mine.”