Global insurance and reinsurance broker Willis Group has hired a new Vice President of Insurance-Linked Securities to its Willis Capital Markets & Advisory (WCMA) unit as the broker continues to push forwards its focus on alternative reinsurance capital and ILS.
WCMA, the capital markets, ILS, mergers & acquisition and advisory unit of broker Willis, will have new hire Brad Livingston join its ranks as Vice President of Insurance-Linked Securities (ILS) from the 14th October. Livingston will be based in New York and will be tasked with assisting the brokers continued expansion into ILS.
WCMA intends to capitalise on the increasing interest in ILS and reinsurance as an asset class by investing in WCMA and building out a world-class ILS practice. Livingston has a strong background in ILS, reinsurance and the capital markets, most recently gained at reinsurance broker Guy Carpenter where he was responsible for developing and structuring property reinsurance treaties.
Prior to that Livingston spent time in Guy Carpenter’s GC Securities capital markets unit, where he worked on the marketing, origination and structuring of insurance-linked securities (ILS) contracts for global insurance and reinsurance clients.
Tony Ursano, CEO of WCMA, commented on the appointment; “Through hiring Brad WCMA is demonstrating its commitment to capitalising on the growing opportunities in the ILS market. Brad brings a tremendous combination of reinsurance broking and capital markets experience. I am thrilled that he has decided to join our team and look forward to his contribution in driving our ILS brand forward.”
Bill Dubinsky, Head of ILS at WCMA, added; “Brad’s hands-on experience of working on a wide range of deals will benefit our clients as we help them take advantage of the broad spectrum of available capital markets capacity.”