Willis Group Holdings, the global insurance broker, announced that Peter Hearn has been promoted to chief executive officer of Willis Re, where he will oversee the unit’s global efforts.
Grahame Millwater, previously both chairman and CEO of Willis Re, remains as chairman.
Hearn, a 28 year veteran of the reinsurance industry, joined Willis Re in 1994. Named president of the global broker’s U.S. reinsurance operations in 2002 and promoted to CEO of the unit in March 2005, today, Hearn will join Grahame Millwater in driving Willis’ global reinsurance business.
Hearn will work closely with the senior executive team of Willis Re that includes Chris Clark (CEO of Willis Re Specialty), James Vickers (CEO of Willis Re International), Mark Hvidsten (CEO of Willis Re Analytics and Solutions) and Paddy Jago (President of Willis Re US).
Millwater will be working closely with Joe Plumeri, chairman and CEO of Willis Group, in the next stage of Willis’ development. As chairman of Willis Re, Millwater will continue to be involved in the development of global reinsurance business, but the day-to-day leadership passes to Hearn in his new role.
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