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JLT FAC, part of JLT Reinsurance Brokers Ltd., the reinsurance broking unit of Jardine Lloyd Thompson Group P.L.C., has named Joe Vitale to be head of casualty, the company said in a statement Tuesday.
Mr. Vitale will be joining JLT from Guy Carpenter & Co. L.L.C., where he was most recently senior vice president. He is expected to assume his new role, based in New York, in August, subject to contractual obligations, the statement said.
The company also announced that Nikki Melbourne will join the firm as a partner in London working on the development of UK, European and Latin American regional FAC business, the statement said. She was most recently a senior underwriter with RSA Insurance Group P.L.C.
Both positions are newly created as the firm looks to build its facultative team globally, according to a spokeswoman in an email. She added that Ms. Melbourne will report to Vanessa Macdonald-Smith, CEO of JLT FAC, and Mr. Vitale will jointly report to Ms. Macdonald-Smith and Ed Hochberg, CEO of JLT Re (North America) Inc.
“This is the first step in a strategic global expansion plan for JLT FAC,” Ms. Macdonald-Smith said in the statement. “Both Nikki and Joe will enhance the expertise of the team and increase the breadth of our offerings to the market.”
Reinsurance rate increases at the June 1 Florida property-catastrophe renewal missed early expectations, JLT Re, a unit of Jardine Lloyd Thompson Group P.L.C., said Friday, coming in at low single digits.