Reinsurance News
Willis Re
Willis Re is a global reinsurance broker launched as a joint-venture between private equity firm Bain Capital (BCIS) and WTW. The company aims to serve its client-base with reinsurance risk transfer solutions backed by industry expertise, advanced analytics, and a global network.
Silent cyber perceived as a far greater risk than ever before: Willis Towers Watson
5th October 2018
Cyber-related losses are expected to increase across all business lines over the next 12 months while silent cyber continues to pose a massive threat, according to an industry-wide survey conducted by insurance and reinsurance broker Willis Towers Watson (WTW). “The insurance market considers ‘silent cyber’ to be a far greater risk ... Read the full article
Willis Re reorganises Specialty broking business
19th September 2018
Willis Re Speciality has appointed Jonathan Marsh as Chairman and Printhan Sothinathan as Chief Strategy Officer as part of a restructure designed to provide better career development opportunities and improved clarity of roles and accountability. Graeme Moore will still lead the Willis Re Speciality business as Chief Executive Officer (CEO), while ... Read the full article
“Flat but functional” property cat market is new norm: Willis Re CEO
9th September 2018
A “flat but functional” pricing environment for property catastrophe is likely to become the “new norm” for reinsurers following a fairly subdued year for renewals despite high catastrophe losses in 2017, according to James Kent, Global Chief Executive Officer (CEO) of Willis Re. Speaking at a press briefing during the first ... Read the full article
Underlying profitability and reinsurer capital fall at H1 2018: Willis Re
6th September 2018
Underlying profitability continued its downward trend at H1 2018, falling 3.4% for the 34 reinsurance companies tracked in the Willis Reinsurance Index, while shareholders’ equity also saw a decrease of 1.6% to $364.9 billion from $371 billion at year-end 2017. Willis Re’s latest Reinsurance Market Report found that the decreases occurred ... Read the full article
Mixed mid-year pricing results for Florida property cat reinsurers: Willis Re
11th July 2018
Property catastrophe pricing has been mixed for reinsurers in Florida at mid-year renewals, as increased demand for some companies following 2017’s catastrophes was offset by further non-traditional capital entering the market, according to reinsurance broker Willis Re. Willis Re’s 1st View Report observed that companies that performed well in Hurricane Irma ... Read the full article
Global re/insurance M&A set to be second most active year ever: Willis Re
11th July 2018
Willis Re's latest 1st View renewals report suggests that 2018 could be the most active year for M&A across the global insurance sector since 2015 - when volume was $121 billion, boosted by the ACE-Chubb merger - with YTD deal volume running at $44 billion. Transactions such as AXA’s $15 billion purchase ... Read the full article
Headwinds curb positive marine rating movement: Willis Re
5th July 2018
Abundant capital across the marine space and continued pressures from both attritional losses and 2017’s hurricane trio Harvey, Irma and Maria is curbing pressure for upwards rating movement, according to Willis Re in its latest 1st View report. Additionally, regional catastrophe loss experience and specialism-specific performance have influenced renewal terms in ... Read the full article
Florida leads price declines in disappointing mid-year renewals: Willis Re
2nd July 2018
Excess capital, the stabilisation of 2017 catastrophe loss estimates and benign loss activity so far in 2018 are driving a 'new normal' in property catastrophe reinsurance pricing, underlined by disappointing June/July property catastrophe renewals, according to Willis Re. The global reinsurance broker has released its latest 1st View renewals report, which ... Read the full article
Industry must understand the challenge of over-capitalisation: Willis Re’s Vickers
24th May 2018
The reinsurance market performed "OK" during the first-quarter of 2018, but the industry needs to understand both the challenge and permanence of over-capitalisation, according to James Vickers, Chairman of Willis Re International, the reinsurance broking arm of Willis Towers Watson (WTW). "The major challenge for the reinsurance industry is capital," said ... Read the full article
Willis integrates capital markets offering into reinsurance business
4th May 2018
Global advisory, broking and solutions company Willis Towers Watson has announced that it plans to integrate its capital markets offering into Willis Re, the reinsurance arm of the firm. The Insurance-Linked Securities (ILS) operation was previously part of the Willis Towers Watson Securities business unit. William Dubinsky will continue to lead the ... Read the full article
Willis Re appoints Andrew Vince as Head of Global Engineering practice
4th May 2018
Willis Re has announced the appointment of Andrew Vince as Head of its Global Engineering practice. Vince joins Willis Re from Trans Re, where he has served since 2008, most recently as Manager of Engineering Treaty and Onshore Energy. Tony Melia, Chief Executive Officer (CEO) of Willis Re International, said: "Andrew is ... Read the full article
Willis Re appoints Guy Carpenter’s Pinette as head of EMEA Life & Health
30th April 2018
Willis Re has appointed Guy Carpenter’s Franck Pinette as Managing Director of its Europe, Middle East, and Africa (EMEA) Life & Health practice. Pinette, who was most recently Chief Executive Officer (CEO) of European Life Reinsurance operations at Guy Carpenter, will now lead Willis Re’s development in the rapidly growing life ... Read the full article
Reinsurers continue to boost poor returns with reserve releases: Willis Re
27th April 2018
Reinsurance broker Willis Re has reported that reserve releases remained substantial over 2017, as reinsurers attempted to buoy net income and offset 2017 natural catastrophe losses with high prior year releases. The company’s April 2018 Reinsurance Market Report found that SUBSET constituents – companies it tracks that disclose catastrophe losses and ... Read the full article
RoEs & combined ratios weaken after a challenging year: Willis Re
24th April 2018
The reported return on equity (RoE) for the Willis Reinsurance Index declined from 8% at the end of 2016 to 3.4% at year-end 2017, as higher natural catastrophe losses and a rising expense ratio contributed to diminished profitability, underlined by a combined ratio of 104.8%, according to Willis Re. The reinsurance ... Read the full article
More reinsurance capital to deploy in spite of losses, reports Willis Re
23rd April 2018
Willis Re, the reinsurance arm of international broker Willis Towers Watson, has reported that shareholders' equity in 34 reinsurance firms tracked via the Willis Reinsurance Index increased to $371 billion at the end of 2017, with alternative capital increasing also, to $88 billion. The year-on-year growth in shareholders' equity of 7.8% ... Read the full article
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