International broker Willis has launched a new London-based facultative and wholesale broking business, Faber Global Limited.

The new business has been created through the amalgamation of Willis Facultative and the wholesale broking business Glencairn Limited, which Willis acquired in 2008.

Former Willis Re International and Specialty CEO Jason Howard will be CEO of the new business, while Gianmarco Tosti will be its MD, with responsibility for the London business unit. Mr Tosti was previously CEO of Willis Facultative London.

The company says Faber will handle all classes of facultative reinsurance and wholesale insurance and reinsurance business, while specialising in property, casualty, accident and health, and cargo.

Mr Tosti says: “Both the facultative and wholesale elements of Faber are well developed businesses in their own right and our existing clients in both areas are very important to us.

“Faber will deliver even greater value through the broader range of expertise and resources available to both existing and new clients as we extend our offering to new partners across the world.”