Cavanagh will retire from Willis Towers Watson at the end of December this year, handing over leadership of Willis Re to Kent, who previously served as deputy global CEO.
Kent joined Willis Re in 2004 and has served been global deputy CEO since December 2016.
Carl Hess, head of investment, risk and reinsurance at Willis Towers Watson, said, “I am pleased to confirm James Kent will take on the global leadership of Willis Re. He and John Cavanagh have worked side by side for many years and share the same passion and enthusiasm for the delivery of superior client results.”
“I would like to thank John Cavanagh for his tremendous contribution to Willis Towers Watson. Not only is [he] a recognised leader of the Willis Re business, he is also a leading figure in the global reinsurance industry.”
Cavanagh added: “It has been a privilege to serve as CEO of Willis Re, where we have successfully grown the business in the face of very tough market conditions. I am delighted that James Kent is taking over from me as global head.”
Kent commented: “I look forward to further enhancing our proposition to help clients effectively manage their risk while building on the collaborative culture so integral to our proposition for both clients and colleagues.”