Willis Chief Tells Asian CEO’s Insurance ‘Not Just About Coverage’

September 22, 2011

Joe Plumeri, the Chairman and CEO of Willis Group Holdings, told more than 100 leading Asian CEOs’ that ‘insurance is not just about coverage and claims, but is about security and survival’ at the KPMG ‘Captains of Industry’ lunch hosted by the British Chamber of Commerce in Hong Kong.

He noted that a challenging new risk landscape now includes threats like reputational damage, terrorism, cyber security, supply chain disruption, regulation and pandemics. As a result, companies operating in today’s volatile economic, social and political climate require a more holistic approach to risk management.

Highlighting these and other major risks facing businesses today, Plumeri advised: “The right way to look at a company is holistically, not risk by risk or transaction by transaction.’ He added that an approach that considers the commercial sustainability of the enterprise ‘best allows companies to manage their business and realize strategic objectives for the long term’.

The bulletin also pointed out that Plumeri’s visit to Hong Kong coincided with the official opening of a new headquarters for Willis’ Asia Pacific, Middle East and Africa operations. The global broker said it “has tripled the size of its business in Asia and Hong Kong in the last six years, both in terms of revenue and staff.”

Willis has leased “a new floor in its current location in The Lee Gardens at 33 Hysan Avenue, Causeway Bay, Hong Kong. The state-of-the-art new offices will accommodate 100 employees of Willis Hong Kong and will also house the leadership team of the broker’s Asia Pacific, Middle East and Africa operations.”

Roger Wilkinson, Chairman and CEO of Willis Asia Pacific, Middle East and Africa, commented: “Willis has been a proud member of the Hong Kong commercial sector since 1977. The city’s excellent infrastructure and proximity to all our other offices in the wider region makes it the ideal base from which to continue our successful expansion in Asia where we now have over 800 employees and 40 offices in 12 countries.’

Source: Willis Group Holdings plc

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