The broking giant will combine WTW's treaty reinsurance brokerage operations with its existing reinsurance business under the brand Gallagher Re.
Ron Hayes is promoted to chief broking officer and Richard Laver joins from Aon as market management director for the UK.
The CMA launched a merger inquiry into the $3.25bn takeover in October.
Keep up to date with the latest moves in the insurance space.
Insurance Age content director Jonathan Swift charts consolidation among the top 100 intermediaries from 2010 to today and reflects on the biggest winners in terms of M&A success
David Worsfold explores the power of the dollar in broking and examines the drivers behind US investment into the UK market.
Henry, formerly of Brightside, will also be MD of personal lines as the broker zones in on digital innovation.
Q3 figures for the global business show brokerage revenue of $1.5bn.
Broker faces class action in the United States following a cyber breach in September 2020 which also saw personal data of individuals in the UK being accessed.
The broker, which was bought by Gallagher earlier this year, reports increases in turnover and profit for 2020.
The competition watchdog says it is considering whether the transaction could result in a lessening of competition in the UK.
The buy takes Pen Underwriting’s GWP up to £700m.
Deal brings 50 staff and £60m in GWP to the Gallagher-owned MGA.
The broker, which was bought by Gallagher earlier this year, will take on its parent company's branding.
The festival runs over three days with mental health, gender equality and racial inclusion highlighted as key issues to be tackled as a priority in the insurance sector.
Keep up to date with the latest people moves.
The broker is to buy the WTW treaty reinsurance operations following the collapse of the original deal.
News analysis: Following the Aon/Willis Towers Watson deal collapse David Worsfold explores if WTW will turn hunter or hunted amid the fallout from the failed $30bn deal.
Simon Matson, CEO, Europe, Middle East and Asia, said the UK division had seen organic growth of 9%.
Aon, which abandoned its $30bn merger deal to buy WTW earlier this week, has shared its new leadership structure.
Gallagher had been set to buy £3.6bn of WTW assets including Willis Re as part of Aon/WTW divestment plans ahead of their proposed combination.
Gallagher Re’s Abbhi Bala outlines why the insurance space needs another organisation to promote diversity across the market.
Stay up-to-date with the latest job changes in the world of insurance.
The two brokers have said they disagree with the move after the DoJ warns merger would “create a broking behemoth” and “threatens to eliminate competition, raise prices and reduce innovation”.