Millwater to Succeed Pelly at Willis’ Re Unit

September 15, 2004

Global insurance broker, Willis Group Holdings, has announced that after 33 years of distinguished service, John Pelly, Chairman of Willis Re, has indicated his wish to retire.

Chairman and CEO Joe Plumeri said the company would accept Pelly’s decision. “John has had an outstanding career at Willis and has made an enormous contribution, not just to the success of Willis Re but also to the Group as a whole,” Plumeri commented. “Under his leadership, Willis Re has become one of the world’s largest and fastest growing reinsurance brokers – a growth that’s been matched by a great reputation for innovative thinking, superb client service and total integrity.

“John has also contributed greatly on wider Company matters and I have valued his thoughtful counsel as a member of the executive management team. Along with his colleagues at Willis I thank him for all he has done for the Company and wish him all the best for the future.”

Pelly said, “I am very fortunate to have been able to spend my entire career at such a great company and with such wonderful colleagues. The past four years have been particularly exciting and I would like to thank Joe Plumeri for his support and inspirational leadership.

“It has been an enormous privilege, as well as a pleasure, to work with the Willis Re team. I’m proud of what we have achieved together and I know that they, and the rest of the Willis family, can continue to look forward to a very bright future.”

The bulletin noted that Willis is preparing for Pelly’s departure next year. It has selected Grahame Millwater to “assume global leadership of Willis Re with immediate effect.” He has been the COO of Willis Re for the last seven years, and had worked closely with Pelly prior to being appointed Chief Executive of Willis’ Global Markets in 2002.

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