Reinsurance News

Willis Re

Focus on exclusions drove late Jan 1 renewals: James Vickers, Willis Re

4th January 2021

Although renewal negotiations started off early, challenges around exclusionary language as reinsurers continued to respond to the pandemic, resulted in a late January 1st, 2021 renewals, according to James Vickers, Chair, Willis Re International. In an interview with Reinsurance News around the launch of reinsurance broker Willis Re’s latest 1st View ... Read the full article

AJG a good fit for Willis Re if regulators force sale: KBW

4th January 2021

Analysts at KBW have pointed to Arthur J Gallagher as a likely buyer of Willis Re, if the investigation currently being carried out by EU regulators forces Aon and Willis Towers Watson (WTW) to make divestitures ahead of their planned merger. The European Commission (EC) confirmed last month that it ... Read the full article

Reinsurers halted downward trends in 2020, says Willis Re

4th January 2021

Despite the ongoing impact of COVID-19, reinsurers have largely halted the persistent downward trends which characterised recent years, according to a new report from Willis Re. On the buying side, Willis Re states that the efficient working of the global reinsurance market ensured that terms and conditions have been less of ... Read the full article

Improved pricing sees $6bn raised by re/insurers across Q4: Willis Re

11th December 2020

A new report from Willis Re, the reinsurance arm of global brokerage Willis Towers Watson, estimates that reinsurers globally have raised $6 billion across the fourth quarter of 2020. This figure would bring the year-to-date total to $19 billion, with a further $3b being contemplated and/or in progress. Willis Re attributes these ... Read the full article

Willis Re adds Hick as a Director within Australian business

25th November 2020

Willis Re has announced the appointment of Cameron Hick as a Director in its Australian business. Hick will focus on client advocacy, delivering strategic advice, structuring assistance. He will also work towards strengthening Willis Re's relationships with the global reinsurance community. Commenting on the appointment, John Philipsz, CEO of Willis Re Australia said, ... Read the full article

1:1 Renewal season to see a tightening marketplace: Willis Re

11th November 2020

Willis Re recently held a webinar in which Paddy Jago, Global Chair of Willis Re and Tony Melia, Chief Executive Officer of Willis Re International discussed the upcoming January renewal season and how things in the reinsurance market may develop. Jago commented: “We will experience further gradual firming from where we ... Read the full article

Willis Re completes $100mn ILS deal for Minnesota Life

27th October 2020

In collaboration with Willis Re, Willis Re Securities says it has structured and placed $100 million of insurance-linked securities (ILS) for Minnesota Life, a life insurance subsidiary of Securian Financial Group. With this deal, Minnesota Life will be the first US direct writer of life insurance to utilise an extreme mortality ... Read the full article

“Reinsurance is in a state of flux”: Willis Re’s James Vickers

23rd October 2020

On the back of several years of unsatisfactory returns and the added challenges of COVID-19, Willis Re’s James Vickers has said that the reinsurance market finds itself “in a state of flux.” Vickers, who is Chair of Willis Re International, recently spoke to Reinsurance News about the state of the reinsurance ... Read the full article

COVID-19 tail unclear, but we’ve much further to travel in casualty: Willis Re

16th October 2020

While insurers and reinsurers looked to book much of their pandemic losses in the second-quarter, the potential for casualty lines development could persist for years and be very significant, according to executives at reinsurance broker Willis Re. It's likely to be years before we understand the full impact of the ongoing ... Read the full article

No significant capital rush amid investor trepidation: Willis Re execs

12th October 2020

While it's likely that more fresh capital will look to enter the re/insurance market in light of improving market conditions, investor trepidation remains amid continued financial market uncertainty and volatility, according to executives at Willis Re, the reinsurance broking of Willis Towers Watson (WTW). "We simply don't see capital rushing in," ... Read the full article

Reinsurers must go “back to basics”: Willis Re’s James Vickers

25th September 2020

James Vickers, Chair of Willis Re International, has said that reinsurers must respond to the myriad challenges in the current market by going “back to basics” and focusing on combined ratios. Speaking in an interview with Reinsurance News, Vickers discussed the findings of a recent Willis Re report, which concluded ... Read the full article

Willis Re unveils new Indonesia Flood model

24th September 2020

Willis Re, the reinsurance arm of global brokerage Willis Towers Watson (WTW), has launched a new fully probabilistic Indonesia Flood model, developed in collaboration with the Willis Research Network (WRN) and the National University of Singapore (NUS) Tropical Marine Science Institute (TMSI). Willis Re's new Indonesia Flood model provides a comprehensive ... Read the full article

Reinsurance capital declined just 3% over H1: Willis Re

9th September 2020

Willis Re, the reinsurance broking arm of Willis Towers Watson (WTW), has reported that total capital dedicated to the global reinsurance industry was $587 billion at June 30th, 2020, reflecting a decline of just 3% when compared with year-end 2019. The latest Reinsurance Market Report from Willis Re found that industry ... Read the full article

Re/insurers looking for “less risky” insurtech investments: Willis Re’s Andrew Johnston

8th September 2020

Re/insurers are looking for insurtech investment opportunities that represent less of a ‘risk’, in that they have a proven track record and are more likely to be successful. In a recent conversation between Reinsurance News and Dr Andrew Johnston, global head of insurtech at Willis Re, it was explained how it ... Read the full article

Former Willis Re EVP Grant Owens joins Openly in lead role

14th August 2020

Premium homeowners insurance platform Openly, has added Grant Owens as Chief Product & Underwriting Officer. Most recently an executive vice president at Willis Re, Owens will lead Openly's product team and spearhead product development as the company looks to drive growth and expand nationwide. Openly aims to simplify the homeowner's insurance process ... Read the full article