Willis Group Holdings, the global insurance broker, today announced the appointment of Hugh Powell as CEO, Latin America, for Willis Facultative.
Powell will have responsibility for Willis’ facultative reinsurance business across the entire region and will join the Executive Committee of Willis Facultative. This committee will be chaired by Jason Howard who, while remaining CEO of Willis Re International and Specialty, will become Executive Chairman of Willis Facultative.
Powell also will have responsibility for the management of the company’s reinsurance offices located in Latin America. He will be supported in this role by Edward Fyfe as Deputy CEO, Latin America, for Willis Facultative. Powell joins Willis from Guy Carpenter, where he headed up the Latin America Facultative operation.
Commenting on Powell’s appointment, Grahame Millwater, President of Willis Group, said, “In March of this year we launched our unified global facultative business. The recruitment of Hugh Powell is a clear signal that we intend to attract the very best in the industry and at the same time broaden our global facultative footprint.”
Jason Howard commented: “Latin America is a highly successful and growing region for Willis. I am confident that Hugh will grow our Latin American reinsurance business while at the same time allowing us to ensure that our facultative and treaty offerings are fully aligned to the benefit of ceding company clients.”
Matthew Keeping, Chief Executive Officer of Willis Facultative, commented: “Hugh brings us further credibility in the Latin American region and his appointment to our Executive Committee greatly strengthens our global management team. With Jason becoming Chairman of our Executive Board, we have finalised the makeup of our senior management team.”
“A stronger reinsurance business with a unified regional management structure will complement our existing retail businesses. This will be pivotal in enabling Willis to offer the full range of propositions across the region, whether it is retail or reinsurance,” said Eugenio Paschoal, Chief Executive Officer of Willis Latin America.
