Global insurer Willis Group Holdings has established Life Sciences Practice, a new business unit for the insurance of companies involved in life sciences, within Willis Global Markets International (GMI).

Tom Teixeira has been appointed as the practice leader, effective immediately. Based in London, he will focus on major accounts outside the US and will report to Toby Wemyss, managing director of GMI.

Teixeira said that this development exposes pharmaceutical and chemical companies to a whole new sphere of risk and company’s goal is to get ahead of the market and provide an integrated service proposition coupled with innovative products that will respond to the needs of the new Life Sciences business model.

Teixeira began his career in the Ministry of Defence in project risk management. He left the public sector to help set up a business unit in IT risk management tools and professional services at technology provider Strategic Thought Group (STG).

Following the company’s successful float in 2005 on the AIM market, Teixeira joined Rolls-Royce Group as head of Enterprise Risk Management. In 2008, he re-joined STG as VP of Enterprise Risk Solutions.