Willis Launches Global 360 to Specialty Clients
London, UK, October 23, 2013 - Willis Limited, a subsidiary of Willis
Group Holdings Plc (NYSE: WSH), the global risk adviser, insurance and reinsurance broker, has announced the
first set of insurers offering to support Global 360, a pioneering suite of capacity facilities for
its specialty insurance clients.
The first set of insurers will provide clients with a stable and consistent source of new, or
additional, follow-market capacity. They are Hiscox, People's Insurance Company of China (PICC) and Berkshire Hathaway. Willis
is also in on-going discussions with other Lloyd's Syndicates.
This new suite of facilities will lead to faster placement and claims agreement for Willis's clients and
promote greater price competition in the specialty insurance market.
Global 360 will function as a set of seven optional capacity facilities across Willis's Aviation, Inspace, Construction,
Property & Casualty, Marine, Energy and Facultative Reinsurance London-market subscription business. The amount of capacity allocated
to each portfolio will reflect the market conditions for the particular line of business.
Commenting on the launch of Global 360, Steve Hearn, Chief Executive Officer of Willis Ltd. and Deputy
Chief Executive Officer of Willis Group, said: "Willis is constantly seeking to improve our client service
and capabilities and we are confident this innovative facility will provide our specialty clients with superior
service and further peace of mind around their insurance placements.
"The proposition of access to whole portfolios of business has proven to be very appealing to capital
providers. We have attracted high-quality capital from around the world: insurers who wish to provide additional
capacity to the specialty market or expand into new lines of business or territories, and reinsurers
who want to enter the market in a cost-effective way. We expect to be able to
announce further partners in due course.
"By providing a door though which additional capital can access portfolios of risk, our clients will benefit
from increased price competition and faster placements and claims agreement. This will be a welcome addition
to our offering."
Willis Group Holdings plc is a leading global risk advisor, insurance and reinsurance broker. With roots dating
to 1828, Willis operates today on every continent with more than 17,000 employees in over 400
offices. Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in
risk management and transfer. Our experts rank among the world's leading authorities on analytics, modelling and
mitigation strategies at the intersection of global commerce and extreme events. Find more information at our
www.willis.com, our leadership journal,Resilience
, or our up-to-the-minute blog on breaking news,
. Across geographies, industries and specialisms, Willis provides its local and multinational clients with resilience for a