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.
Property capacity remained strong at April 1st renewals: Willis Re
11th April 2018
Broker Willis Re has reported that capacity for the property sector remained strong, both in the U.S and globally, despite April 1st renewal price increases being lower than anticipated. In its latest reinsurance renewals report, Willis Re found that April 1st renewal price increases were tempered by weak increases at January ... Read the full article
Dramatic shift in reinsurance M&A trends, says Willis Re CEO Kent
5th April 2018
In the company’s latest reinsurance renewals report, Willis Re’s Chief Executive Officer (CEO), James Kent, observed a dynamic change in reinsurance mergers and acquisitions (M&A) activity as large primary carriers re-enter the reinsurance market. He suggested that new distribution models are causing the greatest disruption to major non-life primary companies with ... Read the full article
Modest market hardening across global specialty lines at 1/1: Willis Re
15th January 2018
Across multiple global specialty lines, a modest hardening of rates is expected in 2018, however, new capacity has entered the market in anticipation of the hardening market and will thus reduce the impact on rate growth, according to Willis Re's viewpoint report on January renewals. In the global specialty markets signs of ... Read the full article
Casualty market calms after HIM but reinsurers push for improved T&Cs: Willis Re
10th January 2018
The global casualty market remains orderly and has calmed down somewhat from the initial impacts of third-quarter hurricanes, however, the trend of improved terms and conditions (T&C) for reinsurance buyers is now slowing, and even reversing in some instances, according to Willis Re. In its recent 1st View report, reinsurance broker ... Read the full article
Willis Re’s PRISM-Re tool upgraded to include silent cyber
8th January 2018
PRISM-Re, the cyber risk portfolio modelling tool from reinsurance broker Willis Re, has been upgraded to now include silent cyber, providing insurers and reinsurers with a more comprehensive view of cyber exposures. Willis Re, the global reinsurance arm of insurance and reinsurance brokerage Willis Towers Watson, first launched PRISM-Re in February ... Read the full article
Headwinds limit significant pricing corrections for reinsurers: Willis Re
2nd January 2018
On the back of one of the worst loss years on record for the global insurance and reinsurance market, pricing corrections have not been as significant as many in the market had hoped for, driven by a number of factors, according to Willis Re's 1st View renewals report. Recent catastrophe ... Read the full article
TigerRisk & Willis Re partner to develop reinsurance placement platform
6th October 2017
Two global reinsurance brokerages are joining forces to advance the development of a reinsurance placement platform. Willis Re is joining with TigerRisk Partners LLC to further develop the globalREmarket (formerly named X-gRm) technology. The pair have formed a new third-party company, RePlace Holding LLC, which will advance the development of the ... Read the full article
Willis Re in senior hires of Wafer & Livingston for North America
20th September 2017
Global reinsurance broker Willis Re has made two senior hires in its North America unit, with the appointment of Tom Wafer as Chairman, Willis Re, North America, and Jeffrey Livingston as Vice-Chair. Tom Wafer joins Willis Re from hedge fund strategy reinsurer Third Point Re (USA) Ltd., where he held the ... Read the full article
Willis Re survey highlights uncertainty of silent cyber exposures
10th September 2017
A recent survey by the reinsurance arm of brokerage Willis Towers Watson, Willis Re, reveals that over the coming year the risk of "silent cyber" exposure has the potential to increase, although uncertainty remains across the risk transfer industry. Silent cyber refers to potential cyber-related losses from an insurance policy not ... Read the full article
Willis Re’s Reinsurance Index sees reinsurer profits plummet in HY 2017
6th September 2017
According to Willis Re’s latest Reinsurance Market Report, aggregate net income for shareholders’ funds in the Willis Reinsurance Index in HY 2017 plummetted to U.S. $8.3 billion from U.S. $14.5 billion at HY 2016 after what's been a below-average year for losses and a market still characterised by surplus capital ... Read the full article
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
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