Willis Group Holdings announced the appointment of Paul Scope as Chairman of Willis Bermuda, encompassing all of the firm’s operations on the Island, effective immediately.
He will oversee Willis’s whole range of Bermuda based operations “in a move designed to further enhance collaboration and build upon Willis’s seamless client value proposition in Bermuda,” the announcement said.
Before joining Willis, Scope was Chairman and CEO of JLT Park, the Bermuda based specialty (re)insurance division of UK-listed broker Jardine Lloyd Thompson (JLT). He has spent 30 years in the Bermuda market and 40 years in the insurance industry. Between 2003 and 2007 he was Chairman and CEO of the Park Group which had offices in Bermuda, London, New York, Chicago, Philadelphia, Toronto and San Francisco. In 1989 Scope established Park International Ltd., one of the first major independent wholesale brokers in Bermuda, which later became Park Bermuda and was acquired by JLT in 2007.
Willis also noted that it has had “a presence in Bermuda since 1979 and employs around thirty five full time staff on the Island focusing on a range of different activities, including alternative risk transfer, direct insurance, reinsurance, captives, life insurance and annuity.”
Steve Hearn, Deputy CEO of Willis Group, described Scope as a “highly-respected figure in the industry with a distinguished list of achievements; indicating that he is “personally delighted to welcome him to Willis, where his unique skills and experiences will allow him to drive the continued development of our client offering and our business.”
Todd Jones, CEO of Willis North America, added: “Bermuda has a special place within the global (re)insurance network. It is therefore critical that Willis continues to invest in enhancing our capabilities to ensure we always offer the broadest possible range of broking and risk management solutions. I look forward to working with Paul closely to serve our clients both in North America and worldwide.”
Scope pointed out that “as well as being one of the world’s pre-eminent (re)insurance hubs and its chief captive domicile, Bermuda is also leading the charge as a provider and user of alternative risk transfer. A favorable business environment and a truly enviable concentration of underwriting talent and capital mean that Bermuda can rightly claim the title of the world’s risk capital. I look forward to harnessing this innovative spirit and delivering the most highly-tailored risk management solutions for our clients.”
Source: Willis Group Holdings plc
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