Reinsurance News
Willis Re
Retro market disruptions may impact future renewals: Willis Re
7th January 2019
Disruptions and trapped collateral in the retrocession market may have an impact on first-tier reinsurance property catastrophe pricing levels over the upcoming 2019 renewals, according to broker Willis Re. The analysis came as part of the firm's latest 1st View report, which found that reinsurance rates at the 1 January ... Read the full article
Pricing broadly stable across U.S casualty renewals, finds Willis Re
3rd January 2019
The latest 1st View report from Willis Re has found that U.S casualty reinsurance pricing trends were mixed at the 1 January 2019 renewals, with pockets of rate increases and decreases across a broadly stable market. The findings came as part of the broker's wider market analysis, which found that Read the full article
January renewals highlight reinsurance “pricing gap”: Willis Re
2nd January 2019
The January 2019 reinsurance renewals have highlighted a "pricing gap" between cedants with peak peril exposure or poor loss records and other accounts, according to a new report from broker Willis Re. The company earlier told the Financial Times that reinsurance rate increases did not materialise at the 1 January renewals, ... Read the full article
Q3 catastrophe bond issuance highest ever at $1.6bn: Willis Re
6th November 2018
Catastrophe bond issuance was at a record-high during the third quarter of 2018, totalling $1.6 billion, which exceeded the former Q3 record of $1.4 billion in 2013, according to the new insurance-linked securities (ILS) Market Update from Willis Re. The Q3 total is also well ahead of the $800 million five-year ... Read the full article
Willis Re appoints Edward Torres as Structured Risks & Legacy broker
12th October 2018
Willis Re, the reinsurance arm of international broker Willis Towers Watson, has appoint Edward Torres as Structured Risks & Legacy broker. As a member of the Financial Advisory team, Torres will operate out of Willis Re’s New York City office and will focus on the placement of prospective structured reinsurance solutions ... Read the full article
Silent cyber perceived as a far greater risk than ever before: Willis Towers Watson
5th October 2018
Cyber-related losses are expected to increase across all business lines over the next 12 months while silent cyber continues to pose a massive threat, according to an industry-wide survey conducted by insurance and reinsurance broker Willis Towers Watson (WTW). “The insurance market considers ‘silent cyber’ to be a far greater risk ... Read the full article
Willis Re reorganises Specialty broking business
19th September 2018
Willis Re Speciality has appointed Jonathan Marsh as Chairman and Printhan Sothinathan as Chief Strategy Officer as part of a restructure designed to provide better career development opportunities and improved clarity of roles and accountability. Graeme Moore will still lead the Willis Re Speciality business as Chief Executive Officer (CEO), while ... Read the full article
“Flat but functional” property cat market is new norm: Willis Re CEO
9th September 2018
A “flat but functional” pricing environment for property catastrophe is likely to become the “new norm” for reinsurers following a fairly subdued year for renewals despite high catastrophe losses in 2017, according to James Kent, Global Chief Executive Officer (CEO) of Willis Re. Speaking at a press briefing during the first ... Read the full article
Underlying profitability and reinsurer capital fall at H1 2018: Willis Re
6th September 2018
Underlying profitability continued its downward trend at H1 2018, falling 3.4% for the 34 reinsurance companies tracked in the Willis Reinsurance Index, while shareholders’ equity also saw a decrease of 1.6% to $364.9 billion from $371 billion at year-end 2017. Willis Re’s latest Reinsurance Market Report found that the decreases occurred ... Read the full article
Mixed mid-year pricing results for Florida property cat reinsurers: Willis Re
11th July 2018
Property catastrophe pricing has been mixed for reinsurers in Florida at mid-year renewals, as increased demand for some companies following 2017’s catastrophes was offset by further non-traditional capital entering the market, according to reinsurance broker Willis Re. Willis Re’s 1st View Report observed that companies that performed well in Hurricane Irma ... Read the full article
Global re/insurance M&A set to be second most active year ever: Willis Re
11th July 2018
Willis Re's latest 1st View renewals report suggests that 2018 could be the most active year for M&A across the global insurance sector since 2015 - when volume was $121 billion, boosted by the ACE-Chubb merger - with YTD deal volume running at $44 billion. Transactions such as AXA’s $15 billion purchase ... Read the full article
Headwinds curb positive marine rating movement: Willis Re
5th July 2018
Abundant capital across the marine space and continued pressures from both attritional losses and 2017’s hurricane trio Harvey, Irma and Maria is curbing pressure for upwards rating movement, according to Willis Re in its latest 1st View report. Additionally, regional catastrophe loss experience and specialism-specific performance have influenced renewal terms in ... Read the full article
Florida leads price declines in disappointing mid-year renewals: Willis Re
2nd July 2018
Excess capital, the stabilisation of 2017 catastrophe loss estimates and benign loss activity so far in 2018 are driving a 'new normal' in property catastrophe reinsurance pricing, underlined by disappointing June/July property catastrophe renewals, according to Willis Re. The global reinsurance broker has released its latest 1st View renewals report, which ... Read the full article
Industry must understand the challenge of over-capitalisation: Willis Re’s Vickers
24th May 2018
The reinsurance market performed "OK" during the first-quarter of 2018, but the industry needs to understand both the challenge and permanence of over-capitalisation, according to James Vickers, Chairman of Willis Re International, the reinsurance broking arm of Willis Towers Watson (WTW). "The major challenge for the reinsurance industry is capital," said ... Read the full article
Willis integrates capital markets offering into reinsurance business
4th May 2018
Global advisory, broking and solutions company Willis Towers Watson has announced that it plans to integrate its capital markets offering into Willis Re, the reinsurance arm of the firm. The Insurance-Linked Securities (ILS) operation was previously part of the Willis Towers Watson Securities business unit. William Dubinsky will continue to lead the ... Read the full article