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LONDON—John Cavanagh has been appointed CEO of Willis Group Holdings P.L.C.'s Willis Re effective immediately, Willis announced Thursday.
Mr. Cavanagh succeeds Steve Hearn, who was appointed chairman and CEO of Willis Global in December.
Mr. Cavanagh has been an executive vp and managing director of Willis Re since 2009, when he joined Willis from international specialty reinsurance broker R.K. Carvill & Co. Ltd. He was joint CEO of the Lloyd's of London broker, since renamed Requiem Ltd.
“With his market-leading specialty expertise, proven leadership skills and capital markets knowledge, we are very fortunate to have someone of John's caliber internally to take on the role of CEO, Willis Re,” Mr. Hearn said in a statement. “He knows our clients and our business and, with his experience as the former CEO of a highly successful reinsurance broker, is ideally placed to lead Willis Re into its next chapter of growth.”