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.
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
Insured nat cat losses above-average in 2020 at $78bn, says Willis Re
2nd February 2021
The insurance and reinsurance industry loss from major natural catastrophe events in 2020 totalled approximately $78 billion, which is some 17% higher than the ten-year average of $66.5 billion, according to analysis by Willis Re, the reinsurance arm of global brokerage Willis Towers Watson (WTW). While the insured loss estimate is ... Read the full article
Aon / WTW unveil new Executive Committee for combined entity
27th January 2021
Ahead of the proposed combination of global insurance and reinsurance brokerages, Aon and Willis Towers Watson (WTW), the companies have announced the new leadership team, led by Greg Case as Chief Executive Officer (CEO). It was confirmed in March of 2020 that the pair had reached an agreement to combine ... Read the full article
Willis Re sale deemed necessary for Aon-WTW merger
22nd January 2021
73% of industry participants we approached feel regulators will require Willis Towers Watson to sell its reinsurance subsidiary Willis Re if the much publicised mega-merger with Aon is to go ahead. The two broking giants confirmed that a business combination was being pursued back in March 2020. It's believed such a ... Read the full article
Overall cat bond offerings at 1/1 continued to attract significant capital: GC
11th January 2021
Guy Carpenter analysts have reported that overall catastrophe bond offerings during the recent Janurary renewals continued to attract significant capital, while syndicated sidecar and collateralised reinsurance strategies experienced limited new inflows of capital. January 1 allocations were said to have been complicated by Covid-driven year-end loss reserve “buffering” and a high ... Read the full article
Analysts see potential for more notable rate rises at upcoming reinsurance renewals
8th January 2021
While risk-adjusted pricing gains in the mid-single-digits at the Jan 1st, 2021 reinsurance renewals fell below expectations, analysts at Morgan Stanley feel it's likely that "more pronounced" rate rises will come to fruition at the April and mid-year renewals. As the COVID-19 pandemic compounded losses for reinsurers in 2020, the industry's ... Read the full article
COVID-19 a catalyst for US property rates at 1/1: Willis Re
6th January 2021
Willis Re has reported that COVID-19 was a catalyst for further rate increases at the January 1 reinsurance renewals for US property re/insurers, building on pricing momentum already gained through 2019. Terms and conditions also tightened, however placements were completed at rates lower than anticipated as capital raises, start-up reinsurers and ... Read the full article
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
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