General Insurance Article - Towers Watson (Re)Insurance Brokers expands in Germany

 Towers Watson (Re)Insurance Brokers has continued its expansion in continental Europe with the creation of an operation in Germany. Towers Watson (Re)Insurance Brokers GmbH will be based in Munich.

 The new German business will be led by Herbert Sedlmair, who has joined from Guy Carpenter where most recently he was Executive Director in its Munich-based operation. Prior to this, he was with Allianz where he held several management positions in its Reinsurance and Group risk management division.

 Richard Denniston, Director for Continental Europe at Towers Watson (Re)Insurance Brokers commented: “By setting up in Germany, we aim to mirror the creation of a regional platform such as we have done in Paris in the last few years, with close working relationships between brokerage, actuarial consultants and software. Our integrated approach is attracting broad interest in the current difficult market circumstances and given the upcoming changes in regulation.”

 He added that the Munich platform will, in due course, service reinsurance clients in Germany, Austria, Switzerland and eventually some of the CEE territories, with full support from the European head office in London.