Reinsurance News
Willis Re
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
Gallagher confirms termination of deal to acquire certain WTW assets
27th July 2021
Arthur J. Gallagher & Co. has confirmed that its agreement to acquire certain assets of Willis Towers Watson (WTW) has been terminated owing to the collapse of the $30 billion combination of Aon and WTW. As Aon and WTW attempted to get their proposed merger over the line amid an array ... Read the full article
Discipline holding as market balance returns: Willis Re’s Vickers
7th July 2021
James Vickers, Chairman of Willis Re International, has said that “discipline is still there,” even as the latest edition of the broker’s 1st View Report shows that recent reinsurance price increases have brought the market close to equilibrium. Speaking in an interview with Reinsurance News, Vickers noted that the reinsurance market ... Read the full article
Reinsurance market approaching equilibrium: Willis Re 1st View
1st July 2021
Willis Re has reported that reinsurance rate increases continued for most major lines and territories during the June and July renewal period, although in many cases reinsurers had to accept firm order terms below their initial quotes. That indicates that the market is approaching equilibrium, the reinsurance broker says in its ... Read the full article
Reinsurance rate increases outstripped claims inflation through Q1: Willis Re
17th June 2021
Analysts at Willis Re have observed an improvement in underlying profitability among global re/insurers in the first quarter of 2021, as rate increases for both reinsurance and commercial insurance lines of business continued to outstrip claims inflation. Claims inflation has been flagged as one of the key challenges facing the re/insurance ... Read the full article
Willis Re hires Kassali as Regional Director for MENA
24th May 2021
Willis Re, the reinsurance broking division of Willis Towers Watson, has announced the appointment of Chems-Eddine Kassali as Regional Director for Middle East and North Africa (MENA). Kassali previously spent nearly 14 years at United Insurance Brokers Ltd, most recently as Associate Director. In his new role, he will be responsible for ... Read the full article
Re/insurance industry execs support sale of Willis Towers Watson assets: KBW
20th May 2021
Florida and Bermuda insurance and reinsurance industry executives recently expressed "widespread support" for the sale of Willis Re and certain other Willis Towers Watson (WTW) assets to Arthur J. Gallagher (Gallagher), according to analysts at KBW. It was announced last week that Gallagher had agreed a $3.57 billion deal to ... Read the full article
Gallagher’s Willis Re acquisition will expand UK, US and international footprint
13th May 2021
Following Arthur J. Gallagher's agreement to acquire the majority of reinsurance brokerage Willis Re, a Gallagher spokesperson has confirmed that the deal will significantly expand the company's footprint in the UK and the US, and provide it with scale operations in certain key markets. It was announced yesterday that Aon ... Read the full article
Acquisition of WTW assets will ‘accelerate’ Gallagher’s long-term strategy, says CEO
12th May 2021
With global brokerage Arthur J. Gallagher set to acquire certain assets of Willis Towers Watson (WTW), including Willis Re, the company expects to significantly expand its global value proposition in reinsurance as well as its global footprint in other parts of the business. Aon and WTW announced today an agreement ... Read the full article
Aon & WTW agree $3.57bn sale of certain assets to Gallagher
12th May 2021
Global re/insurance brokers Aon and Willis Towers Watson (WTW) have signed a definitive agreement to sell Willis Re and a number of other WTW assets to Arthur J. Gallagher & Co. (Gallagher), for a total consideration of $3.57 billion. The announcement comes as the pair look to satisfy the European Commission's ... Read the full article
AJ Gallagher in talks to acquire $3bn portfolio of Aon and WTW assets: Bloomberg
10th May 2021
Global insurance broker Arthur J. Gallagher is in talks with Aon and Willis Towers Watson (WTW) over the potential acquisition of a portfolio of assets, which includes Willis Re, reports Bloomberg. Bloomberg, citing people familiar with the matter, has reported that an agreement could be reached in the coming weeks. According to ... Read the full article
Global insurtech investment hits record $2.55bn in Q1: WTW
28th April 2021
New data from re/insurance broker Willis Towers Watson (WTW) shows that global investment in the insurtech sector reached a new quarterly high of $2.55 billion during the first quarter of 2021. This included eight so-called ‘mega-rounds’, which was more than in any other three-month period, analysts found, and which accounted for ... Read the full article
“Happy tailwind” of rising premiums reducing expense ratios will tail-off: Vickers, Willis Re
23rd April 2021
Top-line growth has been helping global reinsurance firms to enhance their expense efficiency, but this "happy tailwind" won't last forever, warns James Vickers, Chairman, Willis Re International. Speaking with our sister publication Artemis in the latest of its Artemis Live series of video interviews, Read the full article
Reinsurer returns still well below cost of capital: Willis Re
19th April 2021
Reinsurance return on equity (ROE) continued to track down over 2020, with returns remaining “well below” the industry cost of capital, according to analysts at Willis Re. The broker found that both the reported and underlying ROE of the reinsurance industry declined significantly in 2020 as a lower contribution from investment ... Read the full article
Hard work, underwriting remedies coming through for reinsurers: Vickers, Willis Re
13th April 2021
Efforts undertaken by reinsurance carriers to improve performance are starting to come through on an underlying basis, but while momentum is positive, there’s more work to be done, according to James Vickers, Chair of Willis Re International. Reinsurance News spoke with Vickers around the launch of the reinsurance broker’s full-year 2020 ... Read the full article