LONDON, March 23, 2015 (GLOBE NEWSWIRE) -- Willis Group Holdings plc (NYSE:WSH), the global risk adviser, insurance and reinsurance broker, today strengthened and expanded its alternative risk transfer (ART) expertise by appointing Marc Paasch as the Global Head of ART Solutions.
ART solutions enable businesses to transfer traditionally uninsurable risks to a third-party balance sheet. The expertise Paasch brings will further bolster Willis's ability to deliver these highly customised risk solutions.
Commenting on his appointment, Paasch said: "Businesses today are considering more tailored and sophisticated risk transfer solutions. By focusing on the critical strategic risks facing an enterprise, alternative risk transfer solutions can provide businesses with innovative risk transfer options."
Paasch will report to John Merkovsky, Willis's Global Head of Risk & Analytics who added: "The addition of Marc to our Risk & Analytics team will enable Willis to leverage the risk insights gained through our cutting-edge analytics to deliver alternative techniques to hedge and transfer risk."
Marc joins from Marsh where he was Managing Director, Head of Analytics and co-Head of Risk Consulting in Europe as well as a member of the Marsh France Executive Committee. Before that, he held senior management positions in the financial services sector in Paris and New York, including at Allianz and Société Générale.
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