Eleventh place is a useful place to begin a business story. It supplies a starting line, removes the temptation to pretend success was inevitable, and leaves plenty of room for uncomfortable conversations. When Francisco Rodríguez Larraín joined Gallagher Perú in late 2019, the brokerage occupied that position in its market. He would later describe a business with annual revenue a little above S/12 million and a substantial operating loss. There was work to do before anyone could frame the results.
By the end of 2022, he said, revenue had reached S/37.5 million and the operation was profitable. Gallagher Perú had reached fourth place in the insurance-broker ranking. Those are company results, produced by a team; Rodríguez Larraín repeatedly gives colleagues the credit. They also establish the question running through his career: what has to change inside an organisation before the numbers outside it begin to move?
Eleventh place, and a reason to move
He arrived with experience on the insurer’s side of the table. His career included Pacífico and Rimac, and his education combined Business Administration at Universidad del Pacífico with an MBA from Northwestern’s Kellogg School of Management. His own professional introduction also lists Digital Business Strategy studies at MIT. By 2025, he described more than twenty years in insurance and financial services.
Gallagher’s name supplied an international connection. Its Peruvian brokerage still needed its own route forward. In 2021, Rodríguez Larraín was already discussing acquisitions and a place among the market’s leading brokers. The ambition was public well before the later revenue figures. An ambition, of course, cannot answer a client’s question. For that, someone sufficiently experienced has to pick up the telephone.
The company added specialists from 2021, building expertise in particular industries and risks. By August 2023, Rodríguez Larraín was describing a business that had roughly tripled its revenue over three years. He connected that progress to recruitment and a change in working culture. Among the areas he discussed were fishing, construction and financial services. Gallagher had also advised on risks associated with major infrastructure projects, including Chancay port.
A map with more than one city
The map mattered as much as the balance sheet. A Trujillo office opened in July 2022, connecting the business more closely with northern Peru’s agroindustry. In later discussions of expansion, Rodríguez Larraín also described conversations with brokers beyond Lima. The geography gave a practical shape to the growth plan: specialist knowledge, delivered nearer the businesses that could use it.
Acquisitions introduced another consideration. He described bringing professionals into Gallagher along with the portfolios they managed. That made the work of integration unusually personal. A client relationship has a history, and the person who understands that history matters. The transaction therefore carried a management question with it: how would those people work together once they belonged to the same organisation?
His regional work also extended across borders. In 2023, he hosted Gallagher’s Latin American CEOs in Lima, describing an exchange of practices and a search for regional solutions for clients. Delegations included Chile, Colombia, Brazil and the United States. The gathering offered a wider circle of experience for a business whose customers could have problems extending beyond a single jurisdiction.
Two beginnings, a few days apart
The executive appointment had a second starting line. In a public reflection marking five years at Gallagher, Rodríguez Larraín recalled that his first daughter, Catalina, was born just days after he began. A new job and a new child make a fairly comprehensive revision to a calendar. He wrote about his wife and daughters as his principal motivation, alongside the colleagues who had committed to reshaping the business.
That reflection was candid about the starting conditions. The organisation had grown, he said, but needed changes and a renewed focus. Looking back, he emphasised how demanding the process had been and how much depended on the team. It is an account of progress with friction still visible, rather than a retrospective in which every difficult decision has politely disappeared.
His working life included less ceremonial adjustments too. In 2022, he welcomed the return of Gallagher Perú’s colleagues to the office under a hybrid model. He described the pleasure of being together again and connected the arrangement to serving clients. It was another instance of the same managerial concern: how an organisation brings its people into useful contact.
A larger constituency
In March 2025, his responsibilities widened. Rodríguez Larraín began a three-year term as president of APECOSE, the association of insurance-broker companies in Peru. More than eighty per cent of members had participated in the election. Running a brokerage and representing a profession involve different constituencies. His fellow brokers now included the people whose businesses compete for customers.
The programme he set out was specific. He wanted stronger technical training, support with regulatory requirements and more participation from brokers outside Lima. He proposed a representative regional committee and technical conversations with insurers’ underwriting managers. He also called for regular publication of results and open assemblies. Representation, in this account, requires arrangements through which members can actually be heard.
By May 2025, he was taking the discussion to Insurance Day, addressing growth from the broker’s perspective. He identified informality, limited banking access and a weak culture of prevention as structural obstacles. The diagnosis pushed the subject beyond sales performance. A business can improve its position while large parts of the surrounding market remain difficult to reach.
Insurance premiums as a share of Peru’s GDP, presented in Rodríguez Larraín’s 2025 Insurance Day slides. This measures market penetration, not the percentage of people insured.
In a June 2025 opinion article, he placed Peru’s growing premium volume beside its low insurance penetration. His argument questioned a regulatory approach he considered defensive and called for a more enabling framework. Growth existed; the challenge was widening its reach. For an association president, that meant asking what the industry needed to change together.
The promises inside the policy
Some of his most concrete observations concern what happens before an insurance contract is signed. In January 2025, discussing increased interest in cyber cover, he pointed out that companies needed to prepare standards that would allow them to obtain it. Interest alone did not settle the matter. He also described Gallagher’s work extending from construction into operations at Chancay port.
In March 2026, his writing turned to parametric insurance. He explained cover activated by an agreed, measurable event, such as rainfall or earthquake intensity crossing a threshold. His emphasis was the timing of liquidity: a business may need money quickly to keep operating. He presented this approach as an additional layer alongside conventional insurance, with a different mechanism for triggering payment.
By October 2026, he was drawing attention to another practical detail: declared values. Speaking around the insurance industry’s gathering in Ica, he urged businesses to review them so that cover would not fall short of the assets being protected. Inflation and changing costs can leave yesterday’s figure behind. The issue illustrates how much useful advice happens in a review, before a claim tests the arrangement.
The 2026 Ica programme put him at the opening welcome on September 30. The agenda that followed ranged from climate risk and parametric insurance to the economic environment shaping business decisions. For APECOSE, the gathering also coincided with its fiftieth anniversary. That combination of anniversary and working agenda gives his presidency a useful setting: an established association deciding how to respond to problems that keep changing. The conversations now extend well beyond the fortunes of any individual brokerage.
The culture in the room
His June 2026 column on corporate culture returns to the decisions behind performance. He argued that employees learn from what managers reward, correct and tolerate. A particularly awkward case is the colleague who produces excellent numbers while behaving in ways the organisation says it rejects. The leader’s response tells everyone else which standard actually applies.
He connected that dilemma to acquisitions, where financial examination can command attention while differences in working habits receive less scrutiny. Bringing teams together requires care over values and behaviour as well as accounts. In his telling, trust develops through example and through leaders helping colleagues make sense of change. That argument gives a later vocabulary to the integration problem present in his expansion plans.
“Persevera y alcanzarás.”
Francisco Rodríguez Larraín’s chosen personal motto
The question before the next appointment
There is a revealing admission in his personal interview: he would have made some personnel decisions sooner. He also credits a former boss, Max Chion, with teaching him to set demanding expectations for himself. Put those observations together and an executive emerges who recognises both the value of persistence and the cost of waiting. Perseverance, apparently, still needs a calendar.
Asked what he would put to a prospective hire, he chose a question about motivation for joining the company. It is a fitting place to leave a story so concerned with people arriving, learning to work together and deciding what comes next. Rodríguez Larraín now has a broader room to address through APECOSE. The work ahead includes helping a profession reach more of Peru, while keeping its advice close enough to be useful to each client.