OLIVER WYMAN OPENS NEW OFFICE IN BERMUDA AND APPOINTS FAISAL HADDAD AS HEAD OF BERMUDA ACTUARIAL TEAM

Rhea-AI Summary

Oliver Wyman, a consulting firm under Marsh McLennan (NYSE: MMC), has opened a new Actuarial office in Bermuda, led by Faisal Haddad. This expansion aims to enhance service delivery for clients in Bermuda and the US with Bermuda subsidiaries, addressing the rising demand for actuarial services. David Weinsier, US Insurance Practice Leader, emphasized that this local presence will improve collaboration with the insurance sector. Haddad brings over 15 years of international experience in offshore reinsurance, previously serving as Chief Actuary at Brookfield's offshore entities.

Positive

• Opening of a new Actuarial office in Bermuda enhances local presence.
• Faisal Haddad's leadership is expected to strengthen service delivery and local offerings.
• Increased demand for actuarial services indicates growth potential.

Negative

• None.

NEW YORK, Aug. 1, 2022 /PRNewswire/ -- Oliver Wyman, a global management consulting firm and business of Marsh McLennan (NYSE: MMC), announced today the opening of a new Actuarial office in Bermuda and that Faisal Haddad will lead the office.  

"As demand for our actuarial services continues to grow both in Bermuda and for our US clients with Bermuda subsidiaries, our new office under Faisal's leadership will establish a strong local presence and provide additional resources to better serve and collaborate with clients across the insurance industry," says David Weinsier, US Insurance Practice Leader, Oliver Wyman Actuarial. "I am excited to have Faisal lead and grow our Bermuda team and local offerings. He will strengthen our existing deep Bermuda and reinsurance expertise and enhance our ability to serve our clients."

Chad Wischmeyer, Actuarial Practice Managing Partner, adds: "We are proud of our growth and consistent high-quality service to our clients. Our new Bermuda office will bring Oliver Wyman's actuarial teams even closer to clients and better assist them with their strategic and business needs globally."

The office opening marks a new milestone in Oliver Wyman's global footprint. With a local presence and resources now in Bermuda, Oliver Wyman will improve its service to clients across all industries and capabilities. 

Faisal Haddad has more than 15 years of diverse international industry experience for reinsurers and consultancies across both sides of the Atlantic. He specializes in offshore reinsurance solutions for back books and new product offerings, capital management and balance sheet optimization. An Approved Actuary for companies in Bermuda, Faisal has assisted clients with setting up offshore reinsurers, primarily Bermuda and Cayman, and discussions with the regulators.  Before joining Oliver Wyman, Mr. Haddad was the Chief Actuary for Brookfield's offshore entities in Bermuda and Cayman. Prior to that, he was with Willis Towers Watson Bermuda.

About Oliver Wyman

Oliver Wyman is a global leader in management consulting. With offices in more than 70 cities across 30 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The firm has more than 5,700 professionals around the world who work with clients to optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a business of Marsh McLennan [NYSE: MMC]. 

For more information, visit www.oliverwyman.com. Follow Oliver Wyman on Twitter @OliverWyman.

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SOURCE Oliver Wyman

FAQ

What is the recent development for MMC regarding new office openings?

MMC's subsidiary, Oliver Wyman, has opened a new Actuarial office in Bermuda as of August 1, 2022.

Who will lead the new Actuarial office in Bermuda?

Faisal Haddad has been appointed to lead the new Actuarial office in Bermuda.

How does the new Bermuda office impact Oliver Wyman's operations?

The Bermuda office aims to improve collaboration and service delivery for clients in the insurance industry, responding to growing demand for actuarial services.

What experience does Faisal Haddad bring to the new position?

Faisal Haddad has over 15 years of experience in the international reinsurance industry and has previously worked as the Chief Actuary for Brookfield's offshore entities.