Amar Shah Joins Towers Perrin Finite Reinsurance Practice.Business Editors STAMFORD, Conn.--(BUSINESS WIRE)--March 31, 2004 Today, Towers Perrin Towers Perrin is a global professional services firm. It was established 1 March 1934 as Towers, Perrin, Forster & Crosby. The umbrella name of Towers Perrin was adopted in 1987. announced that Amar Shah has joined the company as the leader of the European Finite Reinsurance Finite Reinsurance A type of reinsurance that transfers over only a finite or limited amount of risk. Risk is reduced through accounting or financial methods, along with the actual transfer of economic risk. practice of the Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. business of Towers Perrin. In his new role, Mr. Shah will be responsible for marketing nontraditional insurance, reinsurance and capital market solutions to the European market, which will further expand the firm's franchise beyond the U.S. and London insurance and reinsurance markets. Mr. Shah will provide insurance, reinsurance and financial market coverages, such as trade and credit risk and credit enhancement Credit Enhancement A method whereby a company attempts to improve its debt or credit worthiness. Notes: Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing , to a diverse base of insurance and reinsurance companies, the European corporate sector and European banks. He will be based out of Claytons' London office, acquired by the firm in 2002. "Mr. Shah brings a wealth of global experience and industry knowledge to this position. As we continue to grow our European presence, we will look to Mr. Shah to be a driving force in the area of nontraditional reinsurance. We are very excited that he has joined Towers Perrin," says William Eyre, Managing Director and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the firm's Reinsurance business. Most recently, Mr. Shah worked for West LB in London and Dusseldorf, where he marketed and structured transactions with insurance and reinsurance companies and corporations. He has also worked in various underwriting positions for ERC/GE Capital Market Services, Swiss Re Swiss Re is the world’s largest reinsurer, now that it has acquired GE Insurance Solutions (Ligi 2006). Founded in 1863, Swiss Re now operates in more than 30 countries. General Electric owns 8.9% of the firm. and General Re in Zurich. About Towers Perrin and Reinsurance Towers Perrin is a global professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. firm that helps organizations around the world 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 nontraditional 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 Services Provided Human Resource Consulting firms provides advice to their clients regarding the financial and retirement security, health, productivity, and employment relationships of their global workforce. and administration services, and Tillinghast, which provides management and actuarial consulting to the financial services industry. Together, these businesses have over 8,000 employees and 78 offices in 76 cities in 24 countries. More information about Reinsurance is available at http://www.towersperrin.com/reinsurance. |
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