TORONTO, Nov. 19, 2012 /CNW/ - The Shareholders and Board of Directors of Beach and Associates Limited, the independent global reinsurance intermediary specialist, are pleased to announce the formation of Beach Capital Holdings Limited (BCHL) and the proposed appointment of Jonathan Beach as Chairman and Grahame Millwater as President and Chief Executive Officer, effective January 1, 2013.
BCHL will facilitate the continued growth of the Beach Group around the world through its wholly owned subsidiaries, divisions and branches. This new Canada-based company has the following primary business objectives:
- to provide strategic guidance and financing to all members of the Beach Group;
- to assist with the development of new initiatives in its core reinsurance intermediary business;
- to assist with the development of new initiatives ancillary to its core reinsurance intermediary operations; and,
- most importantly, to work with the members of the Beach Group to continue attracting the best people around the world to its growing operations.
Grahame Millwater will be joining Beach Capital Holdings Limited after 26 years with the Willis Group. During his tenure Grahame held positions of increasing responsibility within that organization's reinsurance operations until his appointment in 2004 as Chairman and CEO of Willis Re. After two successful years in that role Grahame was appointed COO of the Willis Group in 2006 and subsequently as President in 2008. In these roles he had responsibility for revenue development, insurance and reinsurance company relationships, major accounts and analytics and advisory development, in the Reinsurance, Global Specialty, Global Markets and Global Major Accounts operations. Grahame, married with three children, will be based in the London offices of the Beach Group.
"The shareholders and principals of Beach Capital Holdings are thrilled to welcome an executive of Grahame's stature and experience to our team" said Jonathan Beach, the Chairman and controlling shareholder of Beach Capital Holdings Limited and founder of Beach and Associates Limited, the major operating subsidiary of the Beach Group. "We believe we have been very successful in the development of a unique and independent global platform that has met the needs of our specialty insurance company clients since our founding in 1988. But the reality is that in order to continue meeting those needs, while being committed to our continued independence, the Beach Group must continue to expand its contacts, resources and specialty expertise. Grahame, with his unrivalled global experience within our industry, is uniquely suited to continue this development. Michel De Lecq Marguerie, Deputy Chairman, John Cartwright, COO, and I, as well as our global team, very much look forward to working with him for many years to come".
About Beach Capital Holdings Limited
Beach Capital Holdings Limited, based in Toronto, Canada, is the holding company for Beach and Associates Limited, the leading independent specialty reinsurance intermediary with a reputation for innovative reinsurance placements covering complex and technical books of business. Operating through Beach and Associates' subsidiaries, branches and divisions in London, Bermuda, Toronto, New York and Sydney, the members of the Beach Group's global team work with major insurance companies to achieve a deep and practical understanding of their businesses in order to assist them in achieving their corporate risk management goals through the purchase of reinsurance.
SOURCE: Beach and Associates Limited
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