Seventeen members of Carvill brokerage's top management team are leaving the firm in advance of its closing to join Willis Re, re-insurance brokerage, Willis said.
Carvill said in December it would stop placing or renewing new business as of this April, saying it could not continue as a going concern because of the economy.
The Carvill executives including its two chief executive officers will join the unit of Willis Group holdings next week after each discharges their current obligations with Carvill. The new associates will be based out of Willis Re's New York and London offices.
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