The Reinsurance Business of Towers Perrin Announces New Hires

Business Wire, Oct 23, 2007

STAMFORD, Conn. -- Towers Perrin, a global professional services firm, announced that Leo Magrath, Lois Massa, Michael Brownsell and Nick DiPietra have joined the firm's Reinsurance business.

Mr. Magrath has joined as an Executive Vice President and will focus on production, client relationships and the management of select global accounts. He brings over 27 years of industry experience, with specific expertise in the areas of marine, aviation and the retro markets. Prior to joining the firm, Mr. Magrath held numerous leadership positions with Willis Re, most recently as Executive Vice President and Manager of U.S. Specialties, where he also served as a member of the Global Executive Team for the Specialties Divisions. He will be based in the firm's New York office.

Ms. Massa has joined as a Senior Vice President and will manage production for MGA, program managers and similar distribution channels. She will also lead Reinsurance's global strategy and business practices that focus on forging market relationships for non-risk-bearing entities. Ms. Massa has over 25 years of insurance industry expertise and was a Vice President of Sales with Swiss Re's Commercial Insurance Program Division. She will be based in the firm's Stamford office.

Mr. Brownsell has also joined as a Senior Vice President with existing Towers Perrin client relationship and new business development responsibilities. He has more than 35 years of industry expertise, specifically in placing marine facultative and treaty reinsurance business. Before joining Towers Perrin, Mr. Brownsell was a Senior Vice President with Willis Re. He will be based in the firm's New York office.

Mr. DiPietra has joined as a Vice President and will be responsible for new business development and existing client relationship management within the property/casualty market. He has more than six years of industry experience, with an emphasis on the marine and energy industries. Before joining Towers Perrin, Mr. DiPietra was a Vice President with Willis Re. He will be based in the firm's New York office.

"We are extremely fortunate to have such highly regarded individuals within the (re)insurance market join Towers Perrin," stated Bill Eyre, Managing Director and CEO of the firm's Reinsurance business. "Their industry expertise, diverse backgrounds and commitment to client relationships will enhance our abilities to provide clients with great services."

About Towers Perrin and Reinsurance

Towers Perrin is a global professional services firm that helps organizations improve their performance through effective people, risk and financial management. Through its Reinsurance business, Towers Perrin provides global reinsurance intermediary services and consulting expertise that focus on the creative blending of traditional and non-traditional risk transfer vehicles. Areas of focus include reinsurance strategy and program review, claims management and program administration, catastrophe exposure management, contract negotiation and placement and market security issues. The firm's other businesses are HR Services, which provides human resource consulting, and Tillinghast, which provides management and actuarial consulting to the financial services industry. Together, these businesses have offices and business partner locations in the United States, Canada, Europe, Asia, Latin America, South Africa, Australia and New Zealand. More information about Reinsurance is available at www.towersperrin.com/reinsurance.>

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