Airline Insurance Market Overview – October 2012

October marks the start of the renewal season but in reality doesn’t provide many significant renewals. Despite a clamour for indications for the rest of the final quarter the early renewals have not offered much of a change as market conditions remain consistent. The loss environment is benign, there is abundant capacity and exposures continue to grow.

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Willis Group Names Dominic Casserley Next Chief Executive Officer Steve Hearn Appointed Deputy Chief Executive Officer

Announcement begins succession following 12 year tenure of Chairman & CEO Joe Plumeri

LONDON, October 17, 2012 – The Board of Directors of Willis Group Holdings (NYSE: WSH), the global insurance broker, today announced that Dominic Casserley will serve as the company’s next Chief Executive Officer, effective January 7, 2013. The Board also announced that Steve Hearn, currently the Chairman and CEO of Willis Global, will serve as Deputy CEO of Willis Group. Joe Plumeri, who has served as Chairman and CEO of Willis Group since 2000 and led the company back to public ownership and steered its global expansion during his 12-year tenure, will serve as non-executive Chairman through July, 2013.

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