Jason Howard to head new facultative and wholesale business
A new facultative and wholesale broking business has been launched today with the merging of Willis Facultative and Glencairn, the wholesale broking business bought by Willis in 2008.
Faber Global will be headed by chief executive Jason Howard, the former chief executive of Willis Re international and specialty.
Gianmarco Tosti has also been appointed managing director of Faber and will be responsible for the London business unit. Tosti was previously chief executive of Willis Facultative London.
Based in London, Faber has more than 250 associates operating from a global network of offices.
The company handles all classes of facultative reinsurance and wholesale (re)insurance business including key specialities in property, casualty, accident and health and cargo. Faber wants to break into the European and Asian markets immediately.
While Faber is part of the Willis Group, it is independently regulated by the FSA and is a separate legal entity.
Howard said: “Faber brings the powerful combination of an independent trading ethos and the resource of a global industry leader to our clients. We are an international business serving our clients locally and providing global market access through a well developed distribution network. Faber has a great team of extremely talented professionals excellently equipped to solve the risk demands of our clients. I look forward to working with them as we build on what is a world class platform.”
Tosti said: “Both the facultative and wholesale elements of Faber are well developed businesses in their own right and our existing clients in both areas are very important to us. Faber will deliver even greater value through the broader range of expertise and resources available to both existing and new clients as we extend our offering to new partners across the world.”