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Willis Re's Bermuda office to come under North American wing

Willis Re's Bermuda operation has joined forces with its US counterpart under a new North America group as part of a management reshuffle and company restructure.

The reinsurance arm of Willis Group Holdings Ltd. announced the changes yesterday which will be designed to respond to the evolving marketplace and to optimise the unit's talent and resources.

James Kent, who has been named managing director of Willis Re in Bermuda and president of Willis Re North America under the new changes, told The Royal Gazette it was a case of business as usual.

The restructuring would mean Bermuda stengthening its links with the US side of the operation - all formalised by bringing the two together - while looking to increase its client base and expand its presence on the Island.

Willis Re will combine its international and specialty network into a single business unit to provide a full range of resources and capabilities in all of the areas in which it operates, with the analytics and operational teams being joined up.

"Driven by the evolving needs of our clients, the lines between reinsurance broking, analytics and our other offerings have blurred in recent years and continue to converge," said Peter Hearn, CEO of Willis Re. "A variety of market factors, including regulatory changes such as Solvency II, are also driving more consistent needs for our clients, worldwide.

"Our new structure addresses this reality, and will enhance our ability to provide our clients with industry-leading products and services, wherever they do business."

Jim Bradshaw will take on the role of the new North America Group, and will be responsible for aligning Willis Re's Bermuda operation more closely with its US operation.