Posted on 11 Jul 12 by Annie George
Faber Global, the facultative and wholesale reinsurance arm of Willis Group Holdings, the global insurance broker, has increased its global reach by establishing a presence in Singapore to cover facultative reinsurance for Singapore and Asia.
Faber places all classes of facultative reinsurance and wholesale insurance, including key specialisms in Property, Casualty, Accident & Health and Cargo. The Singapore office will build on the current Faber platform provided through the Japanese and Australian business units, offering a cedent focused proposition aimed at accessing the business centered around the Asian hub.
Faber’s Singapore operation will be headed up by Duncan Stockley, CEO of Faber Asia-Pacific since 2011. Stockley has 20 years of experience in the direct insurance and reinsurance industry, and prior to joining Willis held a number of senior placement positions for Marsh in London, Sydney and Tokyo. Based in Singapore, Stockley will report to Jason Howard.
Commenting on the launch of operations, Jason Howard, Chief Executive Officer of Faber said:
“We are pleased to have launched a new Faber operation as part of the well established Willis and Willis Re platform in Singapore. There is an enormous opportunity for both Facultative and Treaty reinsurance in the Singaporean market. Our platform is a working example of how Faber brings the powerful combination of an independent trading ethos backed by the resource of a global industry leader to our clients.
“Through our well developed distribution network, this new operation brings the benefits of global market access and on the ground expertise to our local clients. Faber’s team of talented professionals are perfectly placed to address the risk demands of our clients in the region. I look forward to working with them as we make this significant addition to our world class platform.”
Steve Hearn, CEO and Chairman of Willis Group’s Global Businesses, commented: “Asia continues to be of enormous importance to Willis as a rapidly growing economy and market, and we have made significant progress developing our business in the region over the past several years. We are delighted to offer the addition of Faber’s network and expertise to our valued clients in the region. The facultative experience and regional knowledge of the newly established Faber team will complement our existing Asia operations and will allow us to offer a full range of value-enhancing insurance and reinsurance solutions our clients.”
Faber Global Limited is a broker with a global footprint and over 250 associates. Headquartered in London, Faber handles wholesale insurance and facultative reinsurance risks emanating from large corporate entities, insurers and independent brokers in all classes of business, including key specialisms in Property, Casualty, Accident & Health and Cargo. Whilst a member of the Willis Group, Faber Global Limited is a separate legal and independently FSA-regulated entity. For more information, visit www.faberglobal.com.