Willis Global Launches New Platform for Growth
London, UK, June 1, 2012 – Willis Global, the London headquartered
reinsurance, specialties and wholesale arm of Willis Group Holdings (WSH: NYSE),
today announced a series of client-centric measures aimed at significantly
growing the $40 billion in premiums Willis places annually through its three
core segments – Willis Global, Willis North America and Willis International -
and maximising the benefit of this for clients.
Since his appointment last December as Chairman and CEO, Willis Global, Steve
Hearn has led a strategic review of the global businesses to determine the most
effective strategy and resultant structure for best serving the needs of
Willis’s clients, carriers, employees and shareholders.
Willis Global comprises three core businesses and specialist support
functions. Willis Re, one of the world’s leading reinsurance brokers, Global
Specialties, which is a market leader in many of its lines of business,
including Aerospace, Energy, Marine, FINEX, Financial Solutions and Construction
and Willis Faber and Dumas, its leading facultative and wholesale business. All
are supported by Global Solutions, Global Analytics and Global Placement.
The new strategy and structure aligns many of those businesses to improve
distribution capabilities, cross fertilisation of ideas and, enable a better
coordinated approach to clients and carriers.
Announcing the changes, Steve Hearn said:
"The Willis Global strategic review focused on, in particular, how to bring
the various businesses closer together, achieving seamless access to our
expertise and capabilities.
"The current structure of Willis Global reflected our history as a powerful
specialist London wholesaler, grown through diversification and bolt on over
many years. The division comprised a series of already successful but siloed and
independent businesses. Although we are market leaders in many lines of
business, Willis Global’s structure impeded our ability to deliver the best
results to our clients and to maximise our own growth potential. Despite already
being a highly collaborative organisation, there was clearly opportunity to
reflect the changing dynamics of the market we operate in and achieve greater
clarity in our offering for all parties.
"Our new simplified structure, the result of extensive dialogue with our
clients, carriers and our people, establishes a fully integrated and coordinated
set of business units with WillPlace, our client-centric placement platform and
a key differentiator for Willis, at the core of the Willis Global proposition.
This new structure will be introduced over the next few months, with full
implementation due 1 January 2013."
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.