JLT Re hires Willis Faber exec to launch Fac division

Reinsurance broker JLT Re has launched a new JLT Fac division and appointed Vanessa Macdonald-Smith, formely of Willis Faber, to lead the division.

JLT Fac will be focused on property, construction and casualty reinsurance. Oil and gas onshore and offshore Fac will continue to be handled by existing dedicated teams within the JLT Group.

“The creation of JLT Fac is a reflection of the JLT Group’s strategic investment in the facultative space, bringing together recognised experts from across the group as well as new expertise from across the industry,” said Keith Harrison, chief executive officer, UK & Europe, JLT Re.

“Vanessa will lead a team of 19 professionals; her appointment is a testament to JLT’s ongoing focus on client’s needs. Under her leadership this team creates a very exciting proposition.”

Macdonald-Smith, added: “Both myself and my new colleagues are excited about this initiative and are intent on building upon JLT’s reputation and offering our clients innovative and strategic facultative solutions. The energy and enthusiasm at JLT matches my own drive and passion.”

Macdonald-Smith joins JLT Re from Willis Faber where she was managing director of the rest of the world team and a member of Faber executive management team. Previous to that she also held key roles at Benfield Corporate Risk and Alexander Forbes (now Lockton Group).