James Vickers, the chairman of Gallagher Re International, has announced his retirement, effective May 31, 2025. With 47 years in the global reinsurance industry, Vickers has witnessed significant changes and advancements in the field.
Reflecting on his career, Vickers noted that when he started in the late 1970s, the reinsurance business was largely based on relationships and simple rules of thumb. He reminisced about the industry’s early days, where technical analysis was minimal and mostly relied on historical loss data. However, he highlighted the shift in the early 1990s when catastrophe models and advanced financial techniques began to take hold. Vickers expressed pride in being part of this analytical evolution, which has greatly influenced the industry over the past three decades.
Vickers also acknowledged the globalization of the reinsurance sector, which has transformed it from many small, local firms into a few major global players. He has played a key role in expanding Gallagher Re’s network, establishing local offices in over 30 countries over the last 25 years. This experience has brought him various challenges and opportunities that he deeply appreciates.
Throughout his career, Vickers has been grateful for the talented colleagues and supportive clients he has worked with. He believes the future of Gallagher Re is bright, expressing confidence that the next generation of leaders will continue to advance the business and achieve even greater success.
As he prepares for retirement, Vickers shared a personal sentiment, wishing he were 20 years younger to experience the industry’s promising future. He concluded by stating that he believes the outlook for the reinsurance industry is more positive now than at any point in his career.