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Willis names CEO of new global captive management business

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Willis names CEO of new global captive management business

Willis Group Holdings P.L.C. on Thursday said it has named Paul Owens CEO of its newly formed Willis global captive management business, effective Jan. 1.

The new unit will bring the North America, Europe and international captive operations into a single business, the broker said in a statement.

Most recently Mr. Owens served as chief operating officer of Willis Ltd. and global businesses, and he has had a long association with Willis' captive operations, according to the statement.

“Paul is ideally qualified for this new role, bringing with him a wealth of experience in the areas of insurance, regulation, finance and governance along with his in-depth knowledge and connections throughout Willis,” Steve Hearn, deputy CEO of Willis Group, said in the statement. “This new appointment will help ensure that Willis Global Captive Management is properly positioned to maintain and further develop our client offerings.”

“I am excited to be working with an outstanding team who continue to excel in delivering cutting edge client solutions,” Mr. Owens said in the statement. “By bringing all of our captive operations together, we can further strengthen our propositions globally.”