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Willis Re appoints Chris McDowell CEO of Willis Re Bermuda; Michael Harden named president, Willis Re Asia Pacific

Willis Re today announced the appointment of Chris McDowell as CEO of Willis Re Bermuda. Effective January 1, 2017, he will succeed Michael Harden, CEO of Willis Re Bermuda since 2014, who is returning to the Asia Pacific region as president of Willis Re Asia Pacific. McDowell and his team will report into Willis Re Specialty.

Rate softening slows but widespread stabilization remains elusive at July 1 renewals

The June/July 2016 renewal season has seen a continuation in market softening, though a slowing in the magnitude of rate reductions is increasingly apparent, according to the latest Willis Re 1st View report. However, as yet, any indication of widespread pricing stabilization remains elusive.