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Willis Re North America Appoints Chairman to Drive Growth Momentum

^{Published on 2011-11-10 06:16:09 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--In recognition of its continued strong growth in the U.S., Willis Re, a leading reinsurance advisor and part of Willis Group Holdings (NYSE:WSH), the global insurance broker, today announced the appointment of Paddy Jago to the newly-created role of Chairman of Willis Re North America, effective immediately. Jago will retain his current position as President of Willis Re globally and as a member of the Willis Re Executive team with Steve Hearn, CEO, and Peter Hearn, Chairman, of Willis Re.

Jago was appointed President of Willis Re in 2010 and is responsible for the divisionas global sales and growth. He joined the reinsurance broker as Managing Director of Willis Re North America in July 2005, bringing with him 30 years of experience in North American reinsurance, and specializing in Property Treaty. Prior to Willis Re, Jago was at Aon Limited, where he was CEO of North America responsible for Property and Casualty reinsurance. Before that, he worked at various Lloydas entities for nearly two decades, gaining extensive North American Treaty reinsurance experience.

Despite a relatively flat reinsurance rate environment this year, Willis Group reported strong growth momentum in the reinsurance business driven in part by its business in North America.

Commenting on the rationale behind Jagoas appointment, Willis Re CEO, Steve Hearn said, aIn order to continue to capitalize on our significant opportunities in the U.S., weave appointed Paddy, one of the most experienced North American Treaty reinsurance brokers in the market today, as Chairman of Willis Re North America. Working with Jim Bradshaw, CEO of Willis North America, and his excellent senior team, Paddy will take direct responsibility for executing our growth plans for the U.S.a

Welcoming Paddy into the new role, Bradshaw said, aThis announcement just formalizes the very productive working relationship James Kent (President, Willis Re North America) and I have had with Paddy over the last several years. Paddyas North American reinsurance experience, his perspective on the market and familiarity with our clients and prospects have proven invaluable contributors to our success and we are thrilled to have that continue.a

Peter Hearn, Chairman, Willis Re, added, aThe new business success enjoyed by our North American reinsurance business is directly attributed to the disciplined production process introduced by Paddy which is based on accountability and execution. Working with Jim Bradshaw, James Kent and the senior management team, I am confident in the success of our North American business.a

With 391 Associates in 12 offices across the country, Willis Re North America (Willis Re Inc.) is one of the leading reinsurance advisors in the country.

About Willis Re

One of the world's leading reinsurance brokers, Willis Re is known for its world-class Analytics capabilities, which it combines with its Capital Markets and Reinsurance expertise in a seamless, integrated offering that helps clients increase the value of their businesses. Willis Re serves the risk management and risk transfer needs of a diverse, global client base that includes all of the world's top insurance and reinsurance carriers as well as national catastrophe schemes in many countries around the world. The broker's global team of experts offers services and advice that help clients make better reinsurance decisions, access worldwide capital markets and negotiate optimum terms. For more information, visit [ www.WillisRe.com ].

About Willis

Willis Group Holdings plc is a leading global insurance broker. Through its subsidiaries, Willis develops and delivers professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 17,000 employees serving clients in virtually every part of the world. Additional information on Willis may be found at [ www.willis.com ].