Glencairn Appoints John Andrews to Bolster Binder Business
London, UK, January 27, 2009 - Glencairn, a division of Faber & Dumas, the global third-party wholesale insurance broker, today announced that John Andrews has joined the company as Account Executive. Andrews will help spearhead the company's push towards increasing its US and International property binding authority business. Based in London, he will report to Nick Cook, Director and Senior Partner, Glencairn.
Andrews joins from Axis Specialty Europe Limited where he was Deputy Property Manager responsible for co-managing a predominantly US-based Managing General Agent business. Andrews has more than 17 years experience in placing and underwriting binding authorities for North American and international business.
"John' appointment reflects Glencairn's commitment to invest in getting the industry's best talent on board," said Steve Hearn, Chairman and CEO, Glencairn. "John's experience in developing property binder solutions for the US and international markets will enhance our offering by achieving economies of scale to place competitive cover for a wide-ranging client base from the real estate, leisure and construction industries."
Nick Cook said, "Binding authorities allow us to provide our small-to medium-sized and middle market clients with superior products and service that is more efficient and economical. Insurers also benefit from a better distribution channel into markets that they could not otherwise access. John is a great addition to the team and will drive the growth of our binder business in the US."
Binding authorities are arrangements under which insurance brokers are authorised to enter into insurance contracts or undertake certain tasks on behalf of insurers predominantly on homogenous blocks of niche or small-to medium-size business.
Following the completion of its acquisition of Hilb Rogal & Hobbs (HRH) in October 2008, Willis Group Holdings (WSH:NYSE), the global insurance broker, set up Faber & Dumas as its new third-party wholesale brokerage division. Glencairn, HRH's London-based wholesale brokerage, formed the cornerstone of Faber & Dumas.
Faber & Dumas provides specialist wholesale services in a number of areas including property, accident & health; fine art, jewellery and specie; kidnap and ransom, bloodstock; energy; construction; cargo and casualty lines. Along with Glencairn, Faber & Dumas includes three of Willis' leading specialty businesses-
Fine Art, Jewellery & Specie (FAJS), Special Contingency Risks (SCR) and Hughes-Gibb.
Willis Group Holdings Limited is a leading global insurance broker, developing and delivering professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 20,000 Associates serving clients in some 190 countries. Additional information on Willis may be found at www.willis.com. # # #