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Richardson has been with the firm since 2015 and was most recently vice chair and chair of international. -
The program’s total limit this year is down $594mn to $1.36bn.
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The broker noted a “significant variation” in renewal outcomes.
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The restructuring affected less than 5% of its workforce, according to the company.
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Understanding people’s strengths was seen as key to mitigating workplace challenges.
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The ruling comes as insurers face growing legal pressures following the January blazes.
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The broker built out Lockton Re’s US casualty and professional lines treaty book.
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Sources said BMO was retained earlier this year to advise on the strategic process.
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Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.
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Willis’ continued reinsurance build-out has targeted London and Bermuda marine and retro specialists.
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The ratings agency cited the carrier’s growth and performance.
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The executive will report to US construction practice leader Jim Dunn.
