Willis has strengthened its operations in Latin America with the appointment of Alejandro Vaccaro as chief executive officer of the company’s Chilean facultative reinsurance division.
Mr Vaccaro joins from Aon Benfield and his appointment follows that of Antonio Tosti who took up the newly created role of chief executive of Willis’ Latin American reinsurance business in June.
Most recently a director of Aon Benfield’s corporate facultative reinsurance division, Mr Vaccaro brings 33 years of reinsurance experience to Willis.
Having begun his reinsurance career as an underwriter, he was working on the Caja Reaseguradora de Chile, later to become Mapfre RE, when Chile’s reinsurance market was opened to foreign carriers in 1980.
According to Jason Howard, chief executive officer of Faber Global, Willis’ facultative reinsurance business, there are huge opportunities in the facultative reinsurance market in Chile.
He explains: “The country has seen enormous infrastructure growth, and particular growth in the construction industry, which represents a key market for facultative reinsurers.”