Reinsurance News

Willis Re

Gallagher Re set to win TWIA account

7th December 2021

The Actuarial & Underwriting Committee of the Texas Windstorm Insurance Association (TWIA) has voted to recommend that the Association's Board of Directors select Willis Re (now Gallagher Re) for reinsurance broker services. We wrote in November that TWIA was considering changing its reinsurance broker from Guy Carpenter, with the committee ... Read the full article

Gallagher Re feels like a billion dollar startup with a tremendous opportunity: James Kent & Pat Gallagher

1st December 2021

With Arthur J. Gallagher’s (AJG) acquisition of Willis Re’s treaty reinsurance operations now complete, resulting in a much larger Gallagher Re, senior executives told Reinsurance News that it feels like day one at a billion dollar startup. In the past seven years, Gallagher Re has established itself as the fifth largest ... Read the full article

James Kent to lead Gallagher Re as acquisition of Willis Re completes

1st December 2021

Global re/insurance broker Arthur J. Gallagher & Co. has completed its previously announced acquisition of the treaty reinsurance operations of rival Willis Towers Watson (WTW). It was announced in August that Gallagher had reached an agreement to acquire all of the treaty operations of Willis Re from its parent for ... Read the full article

Premium growth strong for re/insurers in 2021: Willis Re

23rd November 2021

A group of re/insurers tracked by Willis Re reported improved combined ratios through the first nine months of the year despite elevated catastrophe losses in the third quarter, while half the cohort achieved double-digit growth in premiums. A recent report by Willis Re, which explores the 9M 2021 performance of the ... Read the full article

UK competition authority clears Gallagher acquisition of Willis Re

22nd November 2021

The UK’s Competition and Markets Authority (CMA) said this morning that it has ended its investigation into and cleared Arthur J. Gallagher & Co's (Gallagher) planned acquisition of the Willis Re treaty reinsurance business. The investigation has been ended as the CMA has decided now further action is required and said ... Read the full article

CMA begins investigation into Gallagher’s acquisition of Willis Re

5th October 2021

The UK's Competition and Markets Authority (CMA) is investigating the expected acquisition of the treaty reinsurance business of Willis Re to brokerage Arthur J. Gallagher & Co (Gallagher). It was announced in August that Gallagher had reached an agreement to acquire the treaty reinsurance operations of Willis Towers Watson (WTW). Initially, ... Read the full article

Willis Re launches new flood model for MENA region

30th September 2021

Willis Re has launched a new flood model for the Middle East and North Africa (MENA) region designed to allow re/insurers' flood risk to be quantified using a catastrophe model. The model currently covers Morocco, the United Arab Emirates, and the Kingdom of Saudi Arabia, with further releases for Oman, Qatar ... Read the full article

Global reinsurance capital and ROE increased in H1: Willis Re

8th September 2021

Global reinsurers performed well in the first half of 2021, with a further expansion of their capital bases and strong headline underwriting results and Return On Equity’s (ROE), according to Willis Re. Underlying ROEs, while less strong, still showed an improvement, with total capital dedicated to the global reinsurance industry measuring ... Read the full article

Inflation could put a significant squeeze on a company’s profitability: Willis Re

25th August 2021

According to a report by re/insurance broker Willis Re, there's an increase in concerns as the insurance industry faces a rise in inflation. Rising inflation hasn’t been a significant issue since the 1980’s, however recent trends have significantly increased during the post pandemic economic recovery, however, it’s yet to be determined ... Read the full article

Favourable pricing boosts re/insurers in H1 2021: Willis Re

24th August 2021

Favourable pricing for commercial lines business, coupled with rate rises for reinsurance and retail insurance supported premium growth for insurers and reinsurers in the first half of 2021, as underwriting results improved significantly for some, reports broker Willis Re. A recent report by the reinsurance broking arm of Willis Towers Watson ... Read the full article

AJG able to balance & reinvigorate Willis Re’s employee & client bases: KBW

17th August 2021

According to reports from Keefe, Bruyette & Woods (KBW), Arthur J Gallagher (AJG) will be able to stabilise and reinvigorate Willis Re’s employee and client bases, whilst expanding its reinsurance product capabilities and global footprint. It was announced ... Read the full article

CEO Case says Aon has emerged stronger from failed WTW merger: report

16th August 2021

As global insurance and reinsurance broker Aon looks forward after its failed merger with rival Willis Towers Watson (WTW), Chief Executive Officer (CEO) Greg Case has told the Financial Times that the firm has emerged stronger. Aon and WTW decided to terminate their proposed $30 billion combination last month after ... Read the full article

Gallagher to acquire Willis Re’s treaty reinsurance operations

13th August 2021

Arthur J. Gallagher & Co. has announced that it will be acquiring all of Willis Re's treaty reinsurance brokerage operations for an initial gross consideration of $3.25 billion; a figure which could rise by another $750 million dependent on certain third-year revenue targets. After seeing its proposed acquisition of Willis ... Read the full article

WTW looking at strategic options for Willis Re, confirms CEO Haley

3rd August 2021

John Haley, the Chief Executive Officer (CEO) of global brokerage Willis Towers Watson (WTW), confirmed today that the company is conducting a review of strategic alternatives for its reinsurance arm, Willis Re. Back in May, it was announced that Gallagher had reached an agreement with Aon and WTW to acquire ... Read the full article

InsurTech investment reached record high in H1 2021: WTW

29th July 2021

Global investment in the InsurTech sector reached a record during H1 2021, as half-year funding of $7.4 billion exceeded full-year investment in 2020, and in every other year, according to a new report by insurance and reinsurance broker, Willis Towers Watson (WTW). In Q2 2021, 162 deals yielded more than $4.8 ... Read the full article