Willis Establishes Life Sciences Unit
Appoints Tom Teixeira Life Sciences Practice Leader
London, UK, September 27, 2010 – Willis Group Holdings (NYSE: WSH), the global insurance broker, today announced
the establishment of a new business unit within Willis Global Markets International (GMI) for the insurance
of companies involved in Life Sciences. The broker has appointed Tom Teixeira as the Practice Leader,
effective immediately. Based in London, Teixeira will report to Toby Wemyss, Managing Director, GMI and will
focus on major accounts outside the US.
Life Sciences industries including biotechnology, pharmaceuticals, chemicals and medical devices are not only faced with the risks
of globalisation, supply chain liability and litigious operating environments, but they are also exposed to cash
flow issues as a result of falling volumes, while trying to mitigate against emerging risks like
healthcare reform and intellectual property theft.
Willis has established a Life Sciences Practice to respond to these new risks and the changing business
model of the industry. “In the past, Life Sciences companies did everything in-house from research and
development through to commercialisation,” explained Teixeira. “The expense and complexity of such an integrated model is
no longer sustainable in the current environment. Life Science companies are moving towards a more collective
approach by transferring parts of the process to other smaller specialist firms.
“This development exposes pharmaceutical and chemical companies to a whole new sphere of risk and our goal
is to get ahead of the market and provide an integrated service proposition coupled with innovative
products that will respond to the needs of the new Life Sciences business model.”
Teixeira started his career in the Ministry of Defence in project risk management. He left the public
sector to help set up a business unit in IT risk management tools and professional services
at technology provider Strategic Thought Group (STG). Following the company’s successful float in 2005 on the
AIM market, Teixeira joined Rolls-Royce Group as Head of Enterprise Risk Management. In 2008, he re-joined
STG as VP Enterprise Risk Solutions, with responsibility for providing risk advisory services to senior management
at FTSE100 and Fortune 500 companies aimed at business performance improvement, with a focus on the
Life Sciences, Mining and Aerospace and Defence sectors.
Commenting on Teixeira’s appointment, Wemyss said, “Tom’s arrival at Willis represents GMI’s continued drive to appoint experts
who thoroughly understand our clients’ needs and industries. With his industry knowledge, expertise in enterprise risk
management and his experience as a risk manager, Tom provides us with a different perspective on
the subject of risk which we believe will be invaluable to our existing clients, new prospects
and our global network.”
Global Markets International is Willis Group's centre of excellence for International Property and Casualty risks. GMI incorporates
a number of Industry Practice Groups including Power and Utilities, Renewable Energy, Leisure and Hospitality and
Metals and Mining. With 250 Associates based in London, Singapore, Melbourne, Ipswich and Mumbai, GMI uses
market-leading products and specialist expertise to deliver services in risk and captive management, claims, policy wordings
and risk transfer to meet the needs of its clients.
Willis Group Holdings plc is a leading global insurance broker. Through its subsidiaries, Willis develops and delivers
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 17,000 employees serving clients in virtually every part of the
world. Additional information on Willis may be found at www.willis.com.
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