Faber Global, the reinsurance arm of Willis Group Holdings, has established a presence in Singapore to cover facultative reinsurance for Singapore and Asia.
Faber places all classes of facultative reinsurance and wholesale insurance, including key specialisms in property, casualty, accident & health and cargo. The Singapore office will build on the current Faber platform provided through the Japanese and Australian business units, offering a cedent focused proposition aimed at accessing the business centred around the Asian hub.
Faber's Singapore operation will be headed up by Duncan Stockley, CEO of Faber Asia-Pacific since 2011. Stockley has 20 years of experience in the direct insurance and reinsurance industry, and prior to joining Willis held a number of senior placement positions for Marsh in London, Sydney and Tokyo. Based in Singapore, Stockley will report to Jason Howard.
Commenting on the launch of operations, Jason Howard, chief executive officer of Faber said: "There is an enormous opportunity for both Facultative and Treaty reinsurance in the Singaporean market.
"Through our well developed distribution network, this new operation brings the benefits of global market access and on the ground expertise to our local clients. Faber's team of talented professionals are perfectly placed to address the risk demands of our clients in the region. I look forward to working with them as we make this significant addition to our world class platform."
Steve Hearn, CEO and chairman of Willis Group's Global Businesses, said: "The facultative experience and regional knowledge of the newly established Faber team will complement our existing Asia operations and will allow us to offer a full range of value-enhancing insurance and reinsurance solutions our clients."