Willis Re has recruited Richard Jones (pictured) from Gallagher Re to lead its Asia operations, bringing in an executive who has held senior roles at Aon and Guy Carpenter over a career spanning nearly 40 years.
The appointment, effective October 2026 subject to regulatory approvals, places Jones in Singapore, where he will oversee the buildout of Willis Re’s operations and its activities across Asia.
“I am excited to be joining Willis Re at such a pivotal point. The opportunity to help shape and deliver on the company’s ambitions in Asia is incredibly compelling. I look forward to working with colleagues across the region to establish a strong and distinctive platform, deepen client relationships, and contribute to building a business that delivers sustainable, long-term impact,” said Jones.
Jones joins Willis Re after serving as chairman of Asia-Pacific at Gallagher Re. His career also includes a stint as chief executive of Asia Reinsurance Solutions at Aon, and more than three decades at Guy Carpenter, where he held roles including CEO of Singapore and chairman of Asia-Pacific.
The move comes at a time when reinsurance brokers are competing for experienced leadership in Asia, a region that has recorded sustained growth in reinsurance volumes over the past decade, with total premiums rising from $23.792 billion in 2014 to $32.395 billion in 2023.
Jones is tasked with developing Willis Re’s Singapore operations and supporting the establishment of its presence across Asia, including delivery of the firm’s strategic objectives in the region.
His appointment follows a period of changing market conditions. The April 1 renewal season saw price reductions across several Asian markets, including Japan, Indonesia, the Philippines, and Singapore, driven by increased capacity and lower catastrophe losses. Competitive conditions have been supported by reinsurers’ capital positions and reduced loss activity in 2025 and early 2026.
Against this backdrop, demand for experience in structuring risk solutions and managing client relationships remains central. Jones’ career includes work across multiple markets in these areas.
“We are thrilled to have Richard join the Willis Re team to lead the establishment of our activities in Asia. His regional knowledge and proven track record in shaping and executing strategy will be critical as we build our market presence. Richard will play a central role in defining and driving our Asia strategy, ensuring we create a strong foundation for growth and client value across the region,” said Lucy Clarke, a board member at Willis Re.
The Asia-Pacific reinsurance market has undergone structural adjustments following the introduction of IFRS 17 accounting standards in 2022, which altered how premium income is reported. While reported premium volumes declined under the revised standard, profitability indicators improved, with return on equity reaching 10.2% in 2023 and combined ratios falling below 100% for the first time since 2018.
