Willis Group Holdings announced the appointment of Antonio Tosti to the newly-created role of CEO of Willis’ Latin American Reinsurance business. He will also maintain his current responsibilities as CEO of Willis’ facultative business in Continental Europe, a position he took on in 2010.
Tosti will report to Luis Maurette, CEO, Willis Latin America and Jason Howard, CEO of Faber, Willis’ global facultative and wholesale broking business.
Tosti is initially based in Santiago, Chile. He will have responsibility for managing the reinsurance business conducted in Willis’ 21 offices across seven countries in the region, and will work closely with Sergio Montoya and Tony Phillips, joint Managing Directors of Willis Re’s treaty reinsurance business in Latin America and the Caribbean. Tosti will also have close ties with the local retail businesses, regional large account and specialty business, and the London-based Faber team.
Tosti has been with Willis since 2006, gaining “extensive retail experience in the broker’s Financial & Executive Risks (FINEX) division where he was CEO of the London-based FINEX Global and before that, Managing Director of FINEX International, a team that handles Financial, Executive Risk and Professional Liability business outside North America and the UK.”
Willis indicated that the “insurance industry in Latin America is expected to grow on average by 8 percent annually between 2011 and 2015 – twice the predicted growth rate for developed insurance markets in the same period, according to a leading reinsurer.”
Maurette commented on the importance of Willis’ reinsurance business in Latin America, stating: “Our reinsurance arm is a fundamental part of Willis Latin America’s growth strategy. With his in-depth knowledge of both the retail and reinsurance parts of our business, Antonio will continue to build on the strong bond that exists between these divisions, using our Latin American platform to access the specialist capabilities across Willis Group for the benefit of our clients.”
Howard welcomed the move, noting that facultative reinsurance is a major growth area for the broker in Latin America. He indicated that Tosti “will be in an excellent position to oversee our full reinsurance offering in the region, ensuring that our facultative and treaty offerings are fully aligned to the benefit of ceding company clients.”
Source: Willis Group Holdings
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