Gallagher Speciality executive director Alex Vullo has been named head of the insurance broker’s marine protection and indemnity team.
His promotion follows last week’s departure of former executive director Malcolm Godfrey, who has moved on to join rival Italian outfit Cambiaso Risso Group.
Vullo has played a key role in developing Gallagher’s P&I business alongside Godfrey. His promotion was widely expected by the London marine insurance broking community.
Vullo joined Gallagher in 2005 and has specialised in marine P&I broking ever since.
During that time, its P&I broking business has grown from handling around 10m tonnes of owned tonnage to more than 140m gt.
The firm estimates it is now involved in the P&I broking for around 10% of the global fleet.
Vullo said he will seek to use new technology, data and synergies in the Gallagher group to develop its P&I business.
“This is an exciting new chapter for us all as we continue to build on this impressive foundation,” he said.
“We plan to make increased use of new technologies, including further utilising our extensive data to innovate and drive our business forward.
“Furthermore, we will be collaborating with the Gallagher Global Network and our other partners to support and add greater value to our clients in today’s ever-changing world.”
Jonathan Suckling, chief executive of Marine, Art & Specie for Gallagher Specialty, said: “The team’s depth, talent and positive energy, combined with Gallagher’s broadening reach, has been responsible for the impressive growth they have seen which we plan to build on with Alex at the helm.”
