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LONDON, Nov. 27, 2014 (GLOBE NEWSWIRE) -- Willis Group Holdings (NYSE:WSH), the global risk adviser, insurance and reinsurance broker, has reinforced its position as one of the world's leading bloodstock insurance brokers with the appointment today of Sophie Chambers as Managing Director of Hughes-Gibb.
Chambers joins Willis from Lycetts, one of the UK's market leaders in equine insurance, with their full acquiescence and in an arrangement that heralds much closer collaboration between both firms and their bloodstock businesses.
As part of the deal announced today, Chambers will lead the expansion of Hughes-Gibb, Willis's specialist bloodstock, livestock and agri-business division, which becomes the exclusive wholesale broker to Lycetts for bloodstock. Two other members of the bloodstock team at Lycetts, Camilla Baker and Ned Barrie, also join Chambers in transferring over to Hughes-Gibb.
A specialist division of Willis, Hughes-Gibb was founded in 1959 as the first broker in London exclusively dedicated to bloodstock insurance, and has expanded to become the only truly global provider of risk management solutions for high-value bloodstock, livestock and agri-businesses.
Commenting on the news, John Muir, who joined Hughes-Gibb in 1989 and is now its Chairman, said: "I'm thrilled to welcome Sophie and her team to the Willis family. Working alongside our dedicated group of bloodstock professionals she will drive our continued expansion in this unique and highly-specialised market, building on our well-established tradition of providing the most innovative and cost-effective risk management solutions and advice."
Chambers added: "Hughes-Gibb and Lycetts are both significant forces in the bloodstock insurance arena. With its impressive multi-national network, expertise and capabilities, Willis's Hughes-Gibb is unmatched in thoroughbred insurance globally, while Lycetts is one of the principal players in the UK bloodstock market with an established brand and close-knit customer relationships. By combining our strengths and experience we can offer our respective clients the most intelligent cover and unrivalled service for all their bloodstock insurance needs."
Angus Keate, Chief Executive Officer of Lycetts, commented: "Our primary concern is to obtain the best cover at the best price for all our clients and we see this as a perfect fit, allowing us to continue providing a highly bespoke personal service to our clients yet benefitting from the leverage of one of the largest brokers in the world."
Willis Group Holdings plc is a leading global risk adviser, insurance and reinsurance broker. With roots dating to 1828, Willis operates today on every continent with more than 18,000 employees in over 400 offices. Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in risk management and transfer. Our experts rank among the world's leading authorities on analytics, modelling and mitigation strategies at the intersection of global commerce and extreme events. Find more information at our website, www.willis.com, our leadership journal, Resilience, or our up-to-the-minute blog on breaking news, WillisWire. Across geographies, industries and specialisms, Willis provides its local and multinational clients with resilience for a risky world.
Source:Willis Group Holdings