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Reinsurance News

Willis Towers Watson

Willis Towers Watson partners with RDT on Radar Live program

15th October 2019

Re/insurance broker Willis Towers Watson (WTW) has announced that insurance software house RDT has become the latest vendor to join its Radar Live Collaboration program. The program was developed to facilitate faster integrations with WTW’s Radar Live rating and rules solution through an ecosystem of insurtech software firms. WTW explained that the ... Read the full article

Further improvement of proposed IFRS 17 ED amendments required: WTW

2nd October 2019

Global insurance and reinsurance broker Willis Towers Watson (WTW) has responded to the International Accounting Standards Board's (IASB) amendments to the IFRS 17 Standard, highlighting a number of areas which require further improvement. WTW has commented on the IFRS 17 Exposure Draft (ED), which was released on June 26th, 2019 and ... Read the full article

WTW appoints Joe Peiser to lead global broking strategy

27th September 2019

Global re/insurance broker Willis Towers Watson has appointed Joe Peiser to the role of global head of broking within its corporate risk and broking segment. Reporting to WTW’s global head of corporate risk and broking, Adam Garrard, Peiser will lead the firm’s global broking strategy. He will also be tasked with pushing ... Read the full article

Willis Research Network partnership to focus on natural air traffic hazards

19th September 2019

Willis Research Network (WRN), the research arm of Willis Towers Watson, has partnered with Mitiga Solutions to help aviation and aerospace clients optimise air traffic management. The partnership aims to help airlines, airports and associated organisation in both the public and private sectors to predict and mitigate the impact of natural ... Read the full article

A slow return to a more normal ILS environment: Willis Re Securities

17th September 2019

Data and analysis from Willis Re Securities, a division of re/insurance broker Willis Towers Watson (WTW), reveals that non-life insurance-linked securities (ILS) issuance fell in the second-quarter of 2019. At just under $1.7 billion, non-life ILS capacity issued in the quarter came from 11 catastrophe bond transactions, and fell from the ... Read the full article

Casualty market disconnected from previous cyclical change: Newman, Willis Re

13th September 2019

In casualty lines of business the reinsurance tail is no longer wagging the primary dog, as the market has disconnected from previous cycle changes, according to Andrew Newman, President of Willis Re. In an interview with Reinsurance News, Newman discussed current dynamics within the casualty reinsurance market and underlined primary insurers’ ... Read the full article

Sompo GRS & WTW launch platform for middle market commercial real estate

13th September 2019

Sompo Global Risk Solutions (GRS), a division of Bermuda domiciled P&C re/insurer Sompo International Holdings Ltd., has entered into a strategic partnership with Willis Towers Watson to develop an integrated insurance platform which targets the middle market commercial real estate sector. The Willis Towers Watson Retail, Office and Industrial (ROI) platform ... Read the full article

Brokerage is not an expense, says Willis Re Deputy Chair Hvidsten

11th September 2019

Reinsurance brokerage costs and commissions are not an expense for reinsurers and Willis Re sees little demand for substantial change on broker remuneration, according to Deputy Chairman Mark Hvidsten. Speaking to Reinsurance News in an interview, Hvidsten laid out the value that he feels a reinsurance broker brings to its clients, ... Read the full article

Technology won’t replace relationships in reinsurance: Hvidsten, Willis Re

10th September 2019

The important role technology plays in brokers’ service offering is set to increase and while it can and will help to improve efficiency, it’s unlikely to disrupt the reinsurance broking market, says Deputy Chairman of Willis Re, Mark Hvidsten. Technology continues to advance at a rapid pace and is increasingly influencing ... Read the full article

For protection gaps, the key issue remains demand: Vickers, Willis Re

10th September 2019

When it comes to closing much-discussed protection gaps the insurance and reinsurance industry cannot work alone and must partner with other organisations to help to increase demand for protection, according to James Vickers of Willis Re. The Willis Re International Chairman told us in an interview that “reinsurance alone cannot help ... Read the full article

Cyber unlikely to be a panacea for reinsurers: Vickers, Willis Re

9th September 2019

The still emerging cyber risk insurance and reinsurance market is not likely to prove the panacea that some hope it will, according to Willis Re International Chairman James Vickers. Vickers explained in a recent interview that while cyber risk is increasing rapidly around the globe, it is not yet clear where ... Read the full article

Reinsurance rate rises uneven & regional: Tony Melia, Willis Re

6th September 2019

Movements in reinsurance rates seen at mid-year 2019 renewals were not evenly distributed, with differentiation of cedants and regional price dynamics the order of the day. Willis Re International CEO Tony Melia explained to us in a recent interview that the reinsurance market has become increasingly nuanced, when it comes to ... Read the full article

Dedicated reinsurance capital up 8% to $559bn in H1 2019: Willis Re

4th September 2019

Global reinsurance broker Willis Re, the reinsurance arm of brokerage Willis Towers Watson, has reported that total, dedicated reinsurance capital increased by 8% in the first-half of 2019 to $559 billion, compared with $518 billion at the end of 2018. According to the reinsurance broker's latest Reinsurance Market Report, the largest ... Read the full article

UK motor claims inflation up 8.6% with more pressure to come: WTW

22nd August 2019

Motor claims payout inflation in the UK rose by 8.6% in 2018, with further pressure expected throughout 2019, according to the latest benchmarking analysis from broker Willis Towers Watson (WTW). Analysts found that the average cost per claim now comes in at £4,791, having increased for the fourth consecutive year Gross accidental ... Read the full article

Willis Towers Watson names Adam Garrard as new CRB leader

15th August 2019

Global insurance and reinsurance brokerage Willis Towers Watson (WTW) has revealed that Adam Garrard is to replace Todd Jones as leader for the Corporate Risk & Broking (CRB) segment. Garrard is currently WTW Head of International and member of the broker's Operating Committee, and he will continue to serve as acting ... Read the full article

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