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.
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
Global reinsurance capital up 7% to $658bn in 2020: Willis Re
12th April 2021
Strong investment market appreciation helped global reinsurance industry capital grow 7% to $658 billion at year-end 2020, according a new report from Willis Re. While new capital raised by both incumbents and new entrants added to the final total, Willis Re says capital returns to shareholders exceeded those new investments. Willis Re's ... Read the full article
Willis Re views industry capital levels as resilient
9th April 2021
A new report from Willis Re has examined the capitalization of re/insurers in the US and European markets, concluding that both have proved resilient to the challenges of the pandemic. In the US, Willis Re found that P&C companies continued to show very strong risk-adjusted capitalization scores despite the increase in ... Read the full article
Good progress made at “disciplined” April renewals: Willis Re’s Vickers
7th April 2021
Willis Re’s James Vickers believes that reinsurers made “good progress” at an April renewal period that saw underwriting discipline and a continuation of the rate increases seen at 1/1. Vickers, who is Chair of Willis Re International, recently spoke to Reinsurance News alongside the release of Willis Re’s 1st View ... Read the full article
Market pricing remains firm at 4/1 despite ample capacity: Willis Re
1st April 2021
Broker Willis Re has reported that market pricing has remained firm in virtually all classes and territories at the April 1 reinsurance renewals, despite there being no shortage of capacity. According to Willis Re’s 1st View report on the April renewal period, conditions very much continued in line with what was ... Read the full article
Willis Re pegs 2020 insured loss from global nat cats at $78bn
30th March 2021
Overall insured loss estimates from global natural catastrophes in 2020 totalled $78 billion, significantly higher than the $53 billion in 2019, according to a Willis Re report. In the US, there were 22 events in 2020 that exceeded $1 billion, breaking the record of 16 in 2007, and the 2020 Atlantic ... Read the full article
Re/insurers achieve premium growth despite COVID challenges: Willis Re
25th March 2021
A new report from broker Willis Re shows that, globally, re/insurers achieved mild premium growth over 2020 due to rate increases for reinsurance and commercial lines of business. Most lines of business in the US market reversed Q2 declines in premiums and US premiums over the year actually outpaced GDP growth, ... Read the full article
Willis Re launches cat risk model for hail events in South Africa
11th March 2021
Willis Re, the reinsurance broking arm of Willis Towers Watson, has launched a new Hail Catastrophe Risk Model which quantifies the risk from damaging hail events across South Africa. The model has been developed in collaboration with Willis Research Network partners at NASA’s Langley Research Centre and the Karlsruhe Institute of ... Read the full article
Willis Re hires Michel Büker as Head of Lloyd’s Capital
16th February 2021
Willis Re, the reinsurance broking arm of Willis Towers Watson, has appointed Michel Büker in a dual role as Head of Lloyd’s Capital and Head of Production, Customised Solutions, EMEA at Willis Re Specialty. Effective 8th February, 2021, he will be responsible for extending Willis Re’s relationships with the Lloyd’s sector ... Read the full article
COVID spurred digital push in re/insurance: Willis Re’s Andrew Johnston
5th February 2021
With 2020 closing as the biggest year to date in insurtech funding, Willis Re’s Andrew Johnston has said that the COVID-19 pandemic pushed the re/insurance industry to digitize in a way that “no other imperative or initiative” could have. Johnston, who serves as Global Head of Insurtech at Willis Re, the ... Read the full article
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