Colosso to quit after Gallagher takeover

Former Heath Lambert chief executive Adrian Colosso is to leave Gallagher International, it emerged this week, just four months after the Gallagher takeover.

Colosso is currently on sabbatical, but Insurance Times understands he is expected to leave the company once that finishes.

Colosso was a strong personality who always liked being his own boss, so there were always doubts in the market about how long he would remain within the company following Gallagher International’s £97m acquisition of Heath Lambert.

Colosso was appointed head of UK retail after the acquisition. He is well connected among clients and insurers, and his departure removes a considerably experienced head in the UK retail market.

Gallagher International chief executive David Ross is experienced in wholesale broking, but lacks extensive experience in UK retail, so he will probably lean on a number of individuals.

Key staff in retail are Alan Pratten, managing director of retail clients and development, who was being courted by the megabrokers, but has now decided to stay on.

Pratten is highly regarded for his sales skills and will be key in helping pull in revenue as the soft market continues to drag on.

Also Patrick Gallagher, part of the Gallagher family that bought the UK business, is in charge of forging the broking presence in the UK regions. He is understood to be being groomed for greater responsibility within the group.

However, without Colosso’s experience, the market will be watching closely to see if Gallagher Heath, the rebranded broking arm of Heath Lambert and Gallagher, can navigate itself successfully through the dog-eat-dog retail space.

The news of Colosso’s departure comes as Heath Lambert managing director of products and markets Graham Barr also leaves the business.

The decision of staff departures and arrivals is just one of the challenges Ross faces in integrating a string of business into Gallagher International.

In the past three years, Gallagher International has acquired liability broker First City for $32m (£20m), Oxygen’s 21-strong London market team and Heath Lambert.

The broking arms will shovel business into Arthur J Gallagher Underwriting Group, led by Sian Fisher.

On the plus side, despite significant challenges facing Ross, Heath Lambert was regarded by insurers and clients as having a sound reputation allied to good service.

It is widely regarded as being one of the best in its field for public projects, fine art and construction.