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Willis Re, the reinsurance division of Willis Towers Watson PLC, has named John Philipsz Deputy CEO of Willis Re Australia effective immediately, the company said in a statement Friday.
In this newly created role, Mr. Philipsz will be based in Sydney and report to Cameron Green, CEO of Willis Re Australia, a spokeswoman confirmed via email.
Prior to joining Willis Re, Mr. Philipsz was with Willis Towers Watson Securities based in London before launching its Sydney office in 2015 and being appointed as its co-head of Asia-Pacific in 2016, the statement said.
Meanwhile, Karl Jones, head of catastrophe analytics for Willis Re International, will relocate from London to Sydney in the first quarter of 2019, the statement said. He was previously based in Sydney with Willis Re until 2015, the statement said.
Additionally, Warren Dresner, head of broking for Willis Re Australia, will relocate to Miami as a senior member of Willis Re’s Latin American business, with the move anticipated in the third quarter of 2019, the statement said.
“The addition of John and Karl to the Willis Re team in Australia will strengthen our operations in the Australian market to drive our next phase of growth,” Mr. Green said in the statement.
“These appointments are testament to the collaborative way in which Willis Re works globally,” Mark Morley, head of Willis Re, Asia-Pacific, added in the statement.
James Kent, global CEO of Willis Re, the reinsurance arm of Willis Towers Watson P.L.C., said that the January reinsurance placements have highlighted a pricing gap, Asia Insurance Review reports. The gap is between pricing for accounts with peak peril exposures and/or poor loss records, and those with good loss records and/or non-peak exposures. Meanwhile, European property catastrophe renewals that benefit both from good loss records and a disciplined early renewal process have been able to achieve some risk-adjusted rate reductions.