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November 24, 2015 8:38 PM ET


Company Overview of Willis Re Inc.

Company Overview

Willis Re Inc. provides reinsurance brokerage services in North America. It offers professional advisory and reinsurance broking services to insurance companies in the employee benefit market, including the accident and health sector. The company offers risk financing and structuring, analytics, execution, and services and claims. It has a strategic alliance with MarketStance. The company was formerly known as Willis Faber North America Inc. and changed its name to Willis Re Inc. in December 1999. Willis Re Inc. was founded in 1956 and is based in New York, New York with an operation in Tampa, Florida. It has locations in Africa, Australia, Asia, Europe, the Middle East, and North America. W...

Brookfield Place

200 Liberty Street

3rd Floor

New York, NY 10281

United States

Founded in 1956





Key Executives for Willis Re Inc.

Global Chief Executive Officer
Co-President and President of Willis Re North America Operations
Co-President and Global Head of Casualty
Chief Operating Officer
Chief Executive Officer of Willis Re International Business
Compensation as of Fiscal Year 2015.

Willis Re Inc. Key Developments

Willis Re Announces Management Appointments

Willis Re announced several leadership appointments to its Global Executive Committee. Paddy Jago has been appointed Global Chairman, in addition to his role as Chairman for Willis Re North America. Mark Hvidsten has been appointed Deputy Chairman, alongside current Deputy Chairman, Chris Clark. James Kent and Andrew Newman have been appointed Co-Presidents to succeed Jago in his previous role as President of Willis Re, in addition to their respective roles as President of Willis Re North America and Global Head of Casualty. Jago, Hvidsten, Kent and Newman will continue to lead Willis Re’s sales and growth efforts, produce business and maintain client relationships in the U.S., the London market and internationally along with the wider Willis Re Executive Committee. Jago has been a member of Willis Re’s leadership for more than a decade. He has served as President of Willis Re since 2010 and was appointed to the additional role of Chairman of Willis Re North America in 2011. He joined Willis Re in 2005 as Managing Director, bringing over 30 years’ experience to the role and having served as Chief Executive Officer of Aon Limited’s North America reinsurance business. Paddy will continue to lead Willis Re’s global sales and growth efforts, produce business and maintain key client relationships in the U.S., the London market, and internationally. Hvidsten most recently served as Willis Re’s Director of Strategy & Transformation. A member of Willis Re’s leadership team since 2002, he oversaw the creation and development of Willis Re’s ILS capabilities and product neutral client offering. Hvidsten was also the founder of Willis Re's Analytics and Solutions capabilities and has worked across a variety of production and management roles since joining Willis Re in 1997 from Minet Reinsurance International Ltd., where he was Chairman and CEO. Hvidsten will continue to lead Willis Re’s strategy and transformation while maintaining and developing client relationships globally. Kent joined Willis Re in Bermuda in 2004 as Executive Vice President and was instrumental in aligning Willis Re’s Bermuda platform with Willis Re’s global network. He was appointed President of Willis Re North America in 2010, the development of this business alongside Willis Re North America CEO, Jim Bradshaw. Kent will remain based in the United States and will continue to work closely with Bradshaw and the North America team, retaining his strong focus on client and market relationship management. Newman joined Willis Re from specialty reinsurance broker, RK Carvill, in 2009, where he was a Director of RK Carvill London Ltd. He is a well-known thought-leader within the Casualty arena. Newman will continue in his role as Global Head of Casualty for Willis Re in addition to serving clients and maintaining growth for the business worldwide alongside James Kent.

Willis Re Introduces New Suite of Flood Analytics for Canada Insurance Market

Willis Re unveiled a new suite of flood solutions offering unprecedented analytical capabilities that will enable insurers to proactively manage Canada flood accumulations. Based on the cutting-edge analytics provided by Willis Re's strategic partnership with KatRisk LLC and SpatialKey Inc., the new solutions include a range of tools which deliver the ability to develop and enhance underwriting and risk transfer strategy, manage and monitor portfolio accumulations, and calculate Probable Maximum Loss (PML) estimations.

Willis Re Launches Cyber Risk Modeling Tool, PRISM-Re™

Willis Re unveiled cyber risk modeling tool that will enable insurers to quantify and manage their portfolio exposure to data breaches, the leading cause of cyber losses. In doing so, the new model - PRISM-Re™ - is a major breakthrough in advancing the insurance industry's ability to manage cyber risk and offer wider protection against the growing tide of cyber-attacks. Leveraging expertise from across the Willis Group, PRISM-Re™ was developed in collaboration with Willis Retail's cyber team and actuaries from Willis Risk & Analytics, whose Privacy Risk Insurance Strategy Model (PRISM-Re™) enables a single insured to assess their exposure to data breach losses. Similarly, PRISM-Re™ provides an objective analysis of the susceptibility to data breach events across the insurer's portfolio. Based upon the latest exposure data, the tool estimates the frequency of data breaches and the potential severity of insured losses arising from those events. The model also employs a 'common shock' methodology to encompass the possibility of contagion behavior, whereby numerous breaches could take place systemically across a single industry sector or related sectors. PRISM-Re™ therefore offers a way of simulating the data breach impact of a so-called 'cyber hurricane' or 'cyber tsunami'.

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