Friday, 17 February 2012
Corporate round-up
Tony Melia appointed CEO of Willis Re International, Marsh launches new facility aimed at maritime security industry and Miller expands political risk, trade credit and political violence team.
Tony Melia appointed CEO of Willis Re International
Willis Re, the reinsurance arm of Willis Group Holdings, has appointed Tony Melia as CEO of Willis Re International.
Mr Melia, who has been with Willis Re since 1988, will lead the International Business Unit, which covers Europe, Asia, Latin America and emerging markets business, with immediate effect.
Based in London, Mr Melia will report to John Cavanagh, CEO of Willis Re.
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Originally responsible for generating business growth in southern Europe, Mr Melia has held a number of posts within Willis Re. He established the company’s first analytics department and created and developed Willis Re’s financial modelling platform, Willis iFM.
Most recently, as Managing Director of European Business, Mr Melia was responsible for reinsurance placements of some of Europe’s largest insurance groups.
Marsh launches new facility aimed at maritime security industry
Marsh has launched an insurance facility to provide cover for the private maritime security industry. Developed to support the requirements of the Security Association for the Maritime Industry (SAMI), the broker’s new insurance facility meets the insurance recommendations stipulated by the International Maritime Organization (IMO) and is available exclusively to SAMI members.
Marsh said the new offering is in response to rapid market developments in the growing maritime security industry that have led to increasingly divergent insurance requirements for companies in the sector.
The broker said it has created the facility with guidance from leading PMSCs, P&I Clubs and insurance underwriters.
The core package provides coverage across five fundamental areas of insurance: public liability; professional indemnity; maritime employers’ liability; employers’ liability and personal accident.
Additional insurance cover such as kidnap and ransom, hull and machinery and enhanced limits of liability are available, depending on the risk appetite of individual organisations.
Nick Roscoe, a managing director in Marsh's Global Marine Practice, said: “The insurance industry has failed to keep pace with the rapid development of the maritime security sector. Many policies have been ‘borrowed’ from other industries and knitted together to provide cover.
Marsh’s new facility addresses the common insurance requirements of all PMSCs with its core product, while lending itself to the personal growth ambitions of individual organisations with its additional services. By accessing Marsh’s facility, PMSCs can secure insurance provision that reassures their clients and supports the wider development of the industry as a competitive force in global maritime security,” he added.
Miller expands political risk, trade credit and political violence team
Miller has appointed James Cunningham and Ewan Wauchope to bolster their political risk, trade credit and political violence capabilities.
Mr Cunningham joins from Marsh with 20 years of insurance industry experience. He is a specialist in the design and placement of structured trade credit and political risk programmes for banks and traders.
Mr Wauchope is a specialist in political violence, terrorism and war on land insurance solutions, with a particular focus on risks in emerging markets. He has also worked in the insurance industry for 20 years and joined Miller from A.J. Gallagher.
Tim Press, Head of Special Risks at Miller, says: “We are delighted to welcome James and Ewan to Miller. As experienced specialists they will help us to build on our already established political risk, trade credit and political violence capabilities.”
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