People Moves: WTW Names Aon’s Wegbrans as Head of Broking; EmergIn Risk Hires Occam’s Paraskeva; Aon’s Norris to Gallagher Re as Cyber ILS Broker

This edition of International People Moves details appointments at Willis Towers Watson; Ryan Specialty’s MGU, EmergIn Risk; and Gallagher Re.

A summary of these new hires follows here.

WTW Names Aon’s Wegbrans as Global Head of Broking

Insurance broker Willis Towers Watson has appointed Hugo Wegbrans as global head of Broking and Broking Strategy within its Risk and Broking business segment. He will join the company in early 2022.

Wegbrans joins WTW from Aon, where he has most recently been leader, Global Strategies, for its Commercial Risk Solutions business. Prior to that, he served as global chief broking officer. He has spent the majority of his 35-year career with Aon.

Adam Garrard, global head of Risk and Broking at Willis Towers Watson, said: “Hugo knows the global broking landscape better than most. He shares our passion for innovation, underpinned by great people and superior data and analytics. He’s a well-respected people leader who helps teams get to the heart of what clients need both now and in the future. We look forward to welcoming him to WTW in the new year.”

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Ryan Specialty’s EmergIn Risk Hires Cyber Expert Paraskeva From Occam; Renews RenRe Capacity

EmergIn Risk, a Ryan Specialty Group managing general underwriter, announced it is further strengthening its cyber, technology, and media underwriting capabilities with the addition of George Paraskeva.

Paraskeva joins EmergIn as practice leader in the London office and will help drive the continued upward trajectory of the business in the large and complex cyber-risk space.

Paraskeva brings a diverse background of experience in both cyber insurance and the wider cyber-security industry. Most recently, Paraskeva worked as cyber-security director and underwriting lead at Occam Underwriting (November 2016 and August 2021), according to his LinkedIn profile. Prior to Occam, he spent a little over two years at MS Amlin (October 2014 to November 2016), said his profile.

Before his roles in the insurance industry, Paraskeva worked as part of BAE Systems’ cyber-security practice where he advised clients – including financial services institutions, critical national infrastructure (CNI), and multi-national defense contractors – on the development and implementation of their cyber security programs.

To coincide with Paraskeva’s arrival, EmergIn also announced the successful agreement of its new binder, running from July 31. RenaissanceRe continues to lead the program having been involved since EmergIn’s formation in 2016.

EmergIn also announced the promotion of Peter Williams to the newly created role of distribution lead. In the role, Williams draws on his 11 years’ experience in the London insurance market where his skills developed first as a broker and then as an underwriter – including having been with EmergIn from the beginning.

Williams will help propel EmergIn’s offering to meet the needs of cyber, technology errors and omissions, and media placements. As a focal point for broker relationships, Peter’s position is to drive strategy and ensure a unified approach in delivering risk transfer solutions to the market.

EmergIn Risk team consists of 18 professionals across London and New York, serving the North American, European, and UK-based markets.

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Gallagher Re Hires Aon’s Norris as Cyber ILS Broker

Gallagher Re, the global reinsurance broker, announced that Theo Norris has joined its 40-strong cyber reinsurance team as a dedicated cyber insurance-linked securities (ILS) broker.

Norris will build and lead the development of Gallagher Re’s capabilities and expertise in this highly specialist area to help bring new and alternative capacity into the global cyber reinsurance market as demand for cover continues to grow significantly.

Norris’ appointment is the latest of 10 new hires into Gallagher Re’s cyber reinsurance team so far in 2021, four of whom have been specialist cyber actuaries, which will further support its expansion and client capabilities in the cyber ILS space, the company said in a statement.

Norris joins from Aon Securities, where he acted as ILS assistant vice president responsible for structuring and transacting insurance-linked securities for a global client base; prior to this, he was a divisional director at Willis Re.

“With the rapid and sustained rise in demand for risk transfer across the cyber re/insurance market, it’s our job as a specialist reinsurance broker to continue to bring new capital to bear that can meet the growing needs of our clients and support the underlying market,” commented Ian Newman, global head of Cyber at Gallagher Re. “ILS and alternative capacity will play an ever more important role in ensuring we can keep that supply in step with demand.”

Newman predicted that it is only a matter of time before the cyber ILS space exceeds the property ILS market. “[W]e intend to be at the forefront of its development to support a truly sustainable cyber re/insurance market.”

Gallagher Re was founded in 2013 as the co-venture “Capsicum Re” with Gallagher, the business became the primary treaty reinsurance outlet for the Gallagher group of companies and has grown to become the world’s fifth largest reinsurance broker with a team of more than 160 people. On Oct. 1, 2020, the business rebranded to Gallagher Re, after becoming Gallagher’s wholly owned specialist reinsurance arm in January 2020.

Topics Cyber Agencies A.J. Gallagher Aon Willis Towers Watson