Willis Group Holdings, the global insurance broker, today announced the appointment of Luigi Giancristofaro as CEO for its reinsurance operations in Brazil (“Willis Corretora de Resseguros Ltda”). Based in Rio de Janeiro, Giancristofaro is primarily responsible for the broker’s Brazilian wholesale business. He will also represent the Group’s Treaty division, Willis Re, in expanding their client offering in the Brazilian reinsurance marketplace.
Giancristofaro will report in to the newly appointed Willis Latin America Reinsurance CEO, Antonio Tosti. Giancristofaro, who has 20 years of experience on both the retail and the reinsurance side of the business, most recently managed Willis Brazil’s Facultative book as Executive Director – a role he has occupied since 2008. In his new position, he replaces Margo Black who has joined Swiss Re.
Giancristofaro will work hand-in-hand with Willis Re, whose Latin American and Caribbean Treaty reinsurance business is led by joint Managing Directors Sergio Montoya and Tony Phillips. He will also work with Willis Latin America’s Large Accounts & Global Specialties team, led by Regional Leader, Edward Fyfe, along with the local retail business and Faber, Willis’ global facultative and wholesale broking business.
The Brazilian reinsurance market, which opened up to private reinsurers in 2008, is one of the fastest-growing in the world, recording 23 percent growth in 2011. The highly competitive local market is expected to continue its upwards trajectory in the coming years, defying the global financial downturn.
Luis Maurette, CEO, Willis Latin America welcomed Giancristofaro to the role, saying, “Our reinsurance arm occupies the leading position in Brazil, and is a key contributor to the successful growth of our business in the region. Luigi has been with Willis Brazil through many years of market changes on both the retail and reinsurance side and has the knowledge and experience to lead the next phase of our growth in this important economy.”
Giancristofaro holds a Business Administration degree, a Structured Systems Analysis Master's degree and an MBA in Marketing from Fundação Getulio Vargas.