Willis Group Holdings News

Maine’s SurePoint Re Advisors to Be Acquired by Willis Re

Willis Group Holdings plc announced today that Willis Re Inc., its North American reinsurance business, has entered into a definitive agreement to acquire the assets of SurePoint Reinsurance Advisors, LLC, in Portland, Maine. Details of the transaction, which is expected …

Willis Re Strengthens Senior Management Team in Canada

Willis Re Inc., the North American reinsurance operation of Willis Group Holdings plc announced the appointment of Geoff Lubert as Managing Director and Executive Vice President of Willis Re Canada, replacing Robert Wildbore, who will be returning to the UK …

Willis Energy Market Review: Still Soft Market; OIL ups Occurence Limits

Willis Group Holdings August Energy Market Review (EMR) highlights the decision by Oil Insurance Limited (OIL) to increase its per occurrence limit from $300 million to $400 million and the event aggregation limit from $900 million to 1.2 billion effective …

USI to Acquire 7 Willis Retail Brokerage Locations Across U.S.

USI Insurance Services announced it has entered into an agreement with certain subsidiaries of Willis North America Inc., part of Willis Group Holdings, to acquire seven of Willis’ retail insurance brokerage locations across the United States. Terms of the transaction …

U.S., Rockefeller $100M Fund Promotes Natural Disaster Mitigation, Insurance for Poor

The U.S. Agency for International Development and the Rockefeller Foundation are starting a $100 million project to prepare vulnerable communities for climate- caused humanitarian disasters before they happen. The initiative, which will start in Africa’s Sahel region and was announced …

Willis Reports ‘Non-Operating’ Items Reduce Q2 Net Income to $47 Million

Willis Group Holdings reported net income of $47 million, or $0.26 per diluted share, in the second quarter of 2014 compared to $105 million, or $0.59 per diluted share in Q2 2013. The bulletin explained that “earnings in the second …

Construction P&C Premiums Slump 10-30% Due to Overcapacity: Willis Report

“Overcapacity in the international construction, property & casualty markets in the first half of 2014 has resulted in rate reductions of up to 30 percent for commercial insurance buyers,” according to a report –“Q3 2014 Construction, Property & Casualty Market …

Willis Appoints Chapman Middle East Regional Construction Industry Leader

Willis Group Holdings, global risk adviser, insurance and reinsurance broker, has appointed Keith Chapman as Regional Construction Industry Leader for the Middle East. He is based in Dubai and his “primary responsibility will be to develop risk management solutions for …

Lester Appointed Faber Global CEO; Howard, Indge Move to Acappella

Faber Global, the facultative and wholesale reinsurance arm of Willis Group Holdings, announced the appointment of Alistair Lester as CEO. He will report to Steve Hearn, Chairman and CEO of Willis Global. The current Faber CEO, Jason Howard, will become …

Willis Names Tech, Media, Telecom Leaders – Srail for No. Am. Motzfeldt for Europe

Willis Group Holdings announced that it has reinforced its position as a risk adviser and insurance broker for the technology, media and telecommunications (TMT) sector with the appointment of new regional leaders for North America and Europe. Willis named Tom …