19 January 2015 Insurance

Willis reveals restructure; hires AIG exec

Broker Willis has restructured into four operating segments from its original three segments.

On January 1, 2015, the restructure divided the original three segments Willis Global, Willis North American and Willis International into four segments: Willis Capital, Wholesale and Reinsurance (WCWR), Willis North America (WNA), Willis International, and Willis Great Britain (Willis GB).

Willis GB includes the company’s UK retail business, facultative business and London specialty businesses and will be led by Hearn. Nicolas Aubert, the former chief operating officer of the EMEA region at AIG, will be appointed as chief executive officer (CEO) of Willis GB. He will succeed Steve Hearn, the company’s deputy CEO, in this role.

WCWR includes Willis Re, Willis Capital Markets and Advisory and the company’s wholesale businesses and will be led by Hearn.

It will also include a new unit called Willis Portfolio and Underwriting Services which includes all of the company’s activities that provide portfolio and underwriting services.

WNA, which will continue to be led by Todd Jones, and Willis International, which will continue to be led by Tim Wright, will remain largely unchanged except for certain specialty teams formerly included within Willis Global but which will now be included within the geographic regions in which they are located.

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