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 CEO of the newly-formed Acappella Group Holdings Ltd. Both appointments take effect as of July 1, 2014.
Lester joined Willis in 2004, initially as Head of the European M&A practice and subsequently International Head of M&A. He then held positions as a member of Willis’s FINEX Global Executive Committee, CEO Willis Global Solutions and most recently as interim CEO of Willis Netherlands.
Hearn commented: “Faber has made tremendous progress in recent years, using a world class platform and well developed distribution network to bring the benefits of global market access and on the ground expertise to clients around the world. Alistair brings a wealth of global client expertise, essential to continuing Faber’s impressive growth in international markets.”
Howard’s appointment as CEO of Acappella Group Holdings Ltd follows three years as Faber CEO. He previously served as CEO of Willis Re’s international and specialty reinsurance broking arm.
David Indge, who recently joined Willis from Lloyd’s, will become Acappella’s Chief Underwriting Officer. He spent over a decade at Lloyd’s working in the Performance Management Directorate, first as Head of Underwriting Performance and then Head of Class of Business. Prior to Lloyd’s he spent twenty years in underwriting roles at a variety of reinsurers.
The bulleting explained that “Acappella is funded by Willis and Ironshore, the global property and casualty insurer. Once fully established, it will combine underwriting, capital markets, analytical and distribution capabilities to the market.”
Source: Willis Group Holdings
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