Willis Re, the reinsurance broking arm of Willis Towers Watson (WTW), has appointed Charles Rumball as Head of Specialty – North America, reporting to both Donald Harrell, Chief Operating Officer (COO) of Willis Re Specialty and Jeffrey Livingston, Executive Vice Chairman, Willis Re North America.
Currently, Rumball serves as Executive Vice President of the reinsurance broker’s Specialty Reinsurance Division, and is based in Hamilton, Bermuda. To take up his new role, effective April 1st, 2020 he will relocate to New York.
During his career, Rumball has worked as a lead underwriter across the specialty classes and brings broad experience in portfolio and divisional P&L management, evaluation of strategic opportunities, and also structuring and negotiating group hedging initiatives.
He previously served as Head of Specialty Reinsurance at Ariel Re, a company he joined in 2006 from reinsurance broker Guy Carpenter, where he worked as a reinsurance broker based in London and New York.
Commenting on the appointment, Harrell said: “Clients increasingly make decisions on a local basis, so it is important to have an integrated speciality business within their own region. Because of that, Willis Re is investing to build out our North American speciality business structure with a broad focus, covering Inland Marine, Ocean Marine, Aviation, Energy and Retro. That makes Charlie, who has worked successfully in all the major specialty lines, the ideal person for the job.”
Livingston added: “Charlie will be a real asset for us in New York, and for our North American clients. He brings a wealth of experience and talent to our organization and I look forward to working with him and his associates to ensure our clients get the insight and advice they have come to expect from Willis Re.”
On his new position, Rumball said: “I am really pleased to be returning to broking and to New York, where I can work hands-on with clients to help them achieve their diverse business goals. As the market for speciality reinsurances shifts, and clients face new challenges, I am excited about the opportunity to bring the resources of Willis Re and the global reinsurance market over to their side, and work in three-way partnerships to achieve the best possible outcomes.”
