Posted on 31 Aug 09
Willis Group Holdings, the global insurance broker, last week named Vic Krauze President of Willis HRH, its North American retail business. Krauze will retain his current responsibilities as Chief Operating Officer of Willis HRH and will continue to report to Don Bailey, Chairman and CEO of Willis HRH.
As President and COO, Krauze will be responsible for the day-to-day operations of the business and establishing more consistent business-wide processes and systems for managing growth at the regional level. The National Partners who head each of Willis HRH’s seven regions will now report to Krauze.
Krauze was named COO of the North America business in February 2008 and has played a key leadership role in overseeing the integration of Willis HRH following the company’s acquisition of broker Hilb Rogal & Hobbs (HRH) in October 2008. The integration — which includes combining offices, business processes and systems — is ahead of plan, and is delivering synergy savings in excess of targets.
“Vic has a long track record of success at Willis as a producer, office leader, National Partner and COO of Willis HRH, in which he has led a very successful integration for us,” said Bailey. “In each of these roles, Vic has always delivered. I have no doubt that Vic will make many significant contributions going forward to advance our business and ensure that we continue to deliver the best value and service experience to our clients.”
Krauze joined Willis in January 1997 as a producer and was soon promoted to President and CEO of the company’s Minnesota operations. In July 2003, he was named National Partner of the Great Lakes Region, which became part of the company’s larger Central Region in 2006 under Krauze’s leadership. Krauze began his insurance career in 1989 with Marsh as a marketing specialist and later was responsible for production for both risk management and middle-market clients. Prior to entering the insurance industry, Krauze served 12 years in the U.S. Navy and is a graduate of the University of Minnesota and the University of St. Thomas, where he earned his MBA in Finance.
“I am excited about the great opportunities we have at Willis HRH to serve our clients with a unique combination of global resources and expertise and an unmatched local presence that allows us to deliver those capabilities right where our clients do business,” said Krauze. “Our platform allows us to serve clients of all sizes — from large corporations and middle-market companies to small businesses — with industry and product specialists and a global marketing organization that provides the best access to carriers. That translates into great service for our clients and great growth potential for us.”
Willis HRH is the North American retail brokerage business of Willis Group Holdings. The unit has more than 200 local offices across the United States and Canada, offering a full range of insurance and risk management services, specialist expertise and global resources to large corporate, middle-market and small business clients.
Willis Group Holdings Limited is a leading global insurance broker, developing and delivering professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 20,000 Associates serving clients in some 190 countries. Additional information on Willis may be found at www.willis.com.