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Willis Towers Watson

Willis Re names Simon Buxton MD of International Customised Reinsurance

9th January 2020

Willis Re, the reinsurance arm of global insurance brokerage Willis Towers Watson (WTW), has announced the appointment of Simon Buxton as Managing Director of its International Customised Reinsurance practice, based in London. Willis Re's International Customised Reinsurance practice has a focus on non-traditional reinsurance, and in his new role, Buxton will ... Read the full article

WTW & eBaoTech to provide one-stop insurance middle office platform

7th January 2020

Global re/insurance broker Willis Towers Watson (WTW) has entered into a new partnership with digital insurance solution provider, eBaoTech, to offer a bundled solution designed to accelerate digitisation across the industry. This new collaboration sees WTW's Radar Live rating engine integrate with eBaoTech's middle office platform, InsureMO, which is specifically designed ... Read the full article

Willis Re notes some considerable price increases in a divergent renewal

2nd January 2020

Willis Re, the reinsurance arm of global insurance brokerage Willis Towers Watson, has noted a divergent and late January renewal season which saw some considerable price increases in certain lines of business. Overall, Willis Re states that reinsurers have been judicial during the January 1st renewal season, resulting in significant pricing ... Read the full article

Bulk annuity market to return to ‘normal’ levels in 2020: WTW

23rd December 2019

Re/insurance broker Willis Towers Watson is expecting the bulk annuity market to return to ‘normal’ levels in 2020, with £30 billion worth of deals expected over the course of the year. Down from an anticipated £40 billion in 2019, WTW says 2020 should see a more balanced market, allowing greater traction ... Read the full article

US commercial insurance prices accelerate in Q3: Willis Towers Watson

11th December 2019

Data from Willis Towers Watson's (WTW) latest Commercial Lines Insurance Pricing Survey shows that the majority of business lines indicated significant price increases in the third-quarter of 2019. Overall, U.S. commercial insurance prices accelerated in the quarter, with carriers reporting an aggregate price change of more than 4%. Insurance and reinsurance broker ... Read the full article

WTW launches IFRS 17 software solution

10th December 2019

Global re/insurance broker Willis Towers Watson has launched an out-of-the-box software solution designed to help P&C insurers more easily implement IFRS 17. ResQ Financial Reporter is a calculation and data management solution designed to provide an efficient framework in order to generate the financial statements and supporting disclosure requirements of IFRS ... Read the full article

Political risk levels and losses on the rise, shows WTW survey

9th December 2019

Political risk levels increased in 2019 when compared with the previous year, while the number of companies that have experienced political risk losses has also increased, according to a survey of 41 major corporations by insurance and reinsurance broker, Willis Towers Watson (WTW). The results of the survey show that 61% ... Read the full article

Climate risk among top concerns for airports: Willis Towers Watson

28th November 2019

Re/insurance broker Willis Towers Watson has highlighted climate risk as among the top risks currently faced by airports. As part of a recent conference held by the Willis Towers Watson Airport Risk Community (ARC), the broker found that 86% of the audience felt that airports are either very exposed or somewhat ... Read the full article

Willis Towers Watson adds ICE InsureTech to Radar Live program

27th November 2019

Re/insurance broker Willis Towers Watson has announced that ICE InsureTech has become the latest vendor to join its global Radar Live Collaboration program. As a Radar Live collaborator, ICE Insuretech will have the ability to deploy Radar Live’s specialist insurance rating and rules solutions. Willis Towers Watson believes that its Radar Live ... Read the full article

Willis Towers Watson partners with Airport Operators Association

25th November 2019

Re/insurance broker Willis Towers Watson has entered into a corporate partnership with the Airport Operators Association (AOA), a trade body representing UK airports. Under the arrangement, the AOA will extend Willis Towers Watson’s aviation solutions and advisory expertise to its membership. The Association believes the partnership will enable it to enhance risk ... Read the full article

Property market still hardening, set to persist through 2020: WTW

18th November 2019

Pricing conditions in the property re/insurance market have continued to harden over and above baseline predictions, with rate increases set to persist through 2020, according to broker Willis Towers Watson (WTW). The current “micro-hard market” has produced pricing increases of between 50% and 100%, according to WTW’s numbers, with some challenged ... Read the full article

Ransomware losses driving cyber rates up: Willis Towers Watson

15th November 2019

Primary and excess cyber renewals are now averaging premium increases in the 5-10% range, driven by an explosion of ransomware losses during the second half of 2019, according to re/insurance broker Willis Towers Watson (WTW). Analysts noted that the uptick in losses has been prompting carriers to re-evaluate their positions in ... Read the full article

Willis Towers Watson sees “biggest upward price shift in years”

13th November 2019

Global insurance and reinsurance brokerage, Willis Towers Watson (WTW) expects 19 lines of business to see price increases in 2020 in what the firm describes as the "biggest upward price shift in years." The broker has released its 2020 Insurance Marketplace Realities report, which concludes that North American commercial insurance buyers ... Read the full article

WTW adds JLT’s Danyluk as head of international property, London

12th November 2019

Re/insurance broker Willis Towers Watson has announced the appointment of Andrzej Danyluk as head of international property, London. Danyluk joins from JLT, where he most recently served as Head of the London power broking team. He will be responsible for growing the international property portfolio placed in the London insurance market on ... Read the full article

All business segments contribute to revenue growth for Willis Towers Watson

31st October 2019

Insurance and reinsurance broker Willis Towers Watson (WTW) has reported a 70% increase in net income for the third-quarter of 2019 to $75 million, while growth in all segments led to overall revenue of $1.99 billion, up 7% year-on-year. The broker has reported organic growth of 6% for the quarter and ... Read the full article

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