Willis Group Holdings has appointed Marc Paasch as the global head of its alternative risk transfer (ART) solutions.

Paasch will report to John Merkovsky, Willis’s global head of risk and analytics, who said the appointment “will enable Willis to leverage the risk insights gained through our cutting-edge analytics to deliver alternative techniques to hedge and transfer risk.”

Before joining Willis, Paasch worked at Marsh, where he was managing director, head of analytics and co-head of risk consulting in Europe as well as a member of the Marsh France executive committee. He has also held senior management positions in the financial services sector in Paris and New York, including at Allianz and Société Générale.

ART solutions enable businesses to transfer traditionally uninsurable risks to a third-party balance sheet. “Businesses today are considering more tailored and sophisticated risk transfer solutions,” Paasch said. “By focusing on the critical strategic risks facing an enterprise, alternative risk transfer solutions can provide businesses with innovative risk transfer options.”