Reinsurance News
Willis Re
Demand for casualty reinsurance increases at mid-year renewals: Willis Re
20th July 2017
Commenting on trends in the casualty market after the 2017 mid-year renewals, Willis Re said demand for reinsurance is increasing as the cyber market expands and global demand is stimulated by pending regulation in the European Union (EU) and Australia. As underlying cyber coverage expands with first party exposures, reinsurers appear ... Read the full article
Desire for organic growth to drive re/insurance sector M&A
11th July 2017
According to some industry commentary, a notable reduction in share repurchases by reinsurers might well be a prelude to heightened merger and acquisition (M&A) activity in an effort to achieve organic growth, discusses John Cavanagh, Chief Executive Officer (CEO) of reinsurance broker, Willis Re. On the back of a very challenging 2016, ... Read the full article
Cyber market can achieve scale needed to absorb excess capacity, says Cavanagh
6th July 2017
Cyber risk has fast become one of the reinsurance industry's biggest challenges and opportunities, and with an improved understanding of the risks, creating a cyber reinsurance market large enough to absorb the wealth of excess industry capital is achievable, according to Willis Re Chief Executive Officer (CEO), John Cavanagh. The reinsurance ... Read the full article
James Kent to replace Cavanagh as global CEO of Willis Re
6th July 2017
Global reinsurance broker Willis Re has announced that James Kent will replace John Cavanagh as Global Chief Executive Officer (CEO), when he retires at the end of December, 2017. Kent joined Willis Re in 2004, and has held the position of Deputy Global CEO since December 2016. Prior to this, and ... Read the full article
Reinsurance softening persists at mid-year renewals: Willis Re
3rd July 2017
Despite reinsurers' results continuing to deteriorate in the first-quarter of 2017, mid-year reinsurance industry renewals saw a continuation of the downward trend seen at January 1st and April 1st, according to Willis Re's latest 1st view report. The softening reinsurance market landscape persisted at the mid-year renewals, with buyers ... Read the full article
Brian Ingle named head of analytics at Willis Re North America
30th June 2017
Reinsurance broker Willis Re, part of the Willis Towers Watson group, has appointed Brian Ingle to be the new head of Analytics for the Willis Re North America division. The appointment comes as a result of the appointment of previous analytics head Alice Underwood to become global head of Willis Towers ... Read the full article
Willis consultants negotiate closure of FNWL & RGA reinsurance deal
8th June 2017
Willis Re and Willis Towers Watson consultants acted as brokers and actuarial advisors in the recently completed Zurich Insurance Group subsidiary, Farmers New World Life (FNWL), and Reinsurance Group of America (RGA) agreement to reinsure roughly $2.3 billion reserves from its closed U.S. annuity book. To ensure a full bidding process, FNWL said it ... Read the full article
Lloyd’s needs to raise its profile to be a market for the future: Cavanagh
7th June 2017
The growth of insurance and reinsurance centres around the world, the consolidation of the broker community, and challenging market conditions have created an increasingly competitive operating landscape, driving a need for the Lloyd's of London marketplace to raise its profile, warns Willis Re Chief Executive Officer (CEO), John Cavanagh. International ratings agency A.M. ... Read the full article
Willis Towers Watson reinsurance growth potential seen above peers: Analysts
30th May 2017
Of the top-tier insurance and reinsurance broking groups it is Willis Towers Watson that is seen as having the highest growth potential in the reinsurance sector, but execution of the strategy will be key, according to analysts at Credit Suisse. Equity analysts Ryan Tunis and Crystal Lu at Credit Suisse see ... Read the full article
Reinsurers’ profit margin pressure increasing, as capacity rises: Willis
20th April 2017
Willis Re's latest market report reveals the intense pressure profit margins have been under in current reinsurance market conditions. Analysis of the group of reinsurers the broker tracks shows aggregate net income reduced to $26.6 billion from $30.3 billion, causing a drop of return on equity (ROE) at 8.0% down from ... Read the full article
Rate reductions continue at April reinsurance renewal: Willis Re
3rd April 2017
Reinsurance rates have continued to decline at the April renewals, according to broker Willis Re, and while the rate of decline continues to be minimal there are market forces at work which will likely see them persist further into the year. The talk of last year's mid-year June and July renewals, ... Read the full article
Lloyd’s backs liability catastrophe risk modelling methodology
14th March 2017
Insurers and reinsurers will be able to model liability exposures across entire portfolios thanks to the development of an innovative methodology that offers a new way of analysing casualty events, ultimately improving the robustness of the marketplace. The innovative data-driven methodology has been developed by risk modeller Arium in collaboration with ... Read the full article
2016 insured catastrophe losses total $39.5 billion: Willis Re
10th February 2017
2016’s insured loss estimates have smashed expectations reaching $39.5 billion, the highest figure since four years, when 2012 losses rose to $60 billion, according to reinsurance broker Willis Re. The global advisory broking and solutions company released a report today listing last year’s major natural catastrophe event losses in terms of ... Read the full article
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