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Reinsurance News
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
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
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
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
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
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
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
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
31st October 2019
Global insurance and reinsurance broker, Willis Towers Watson (WTW) has launched a range of new cyber insurance policies for clients in the U.S., Canada, the UK, and Western Europe. WTW states that the three new policies offer innovative, bespoke solutions for large enterprises and mid-market clients, enabling them to fully assess, ... Read the full article
24th October 2019
iptiQ Americas, a wholly owned subsidiary of reinsurance giant Swiss Re, is focused on helping to close the huge and growing life and health protection gap, explained the Chief Executive Officer (CEO) of the firm, Philip Walker. Speaking with Willis Re as part of the reinsurance broker's latest quarterly InsurTech ... Read the full article
24th October 2019
Willis Accounting, the carrier interface from Willis Towers Watson, has now seen over $20 billion of premium submitted in its four years since inception. The service is powered by the electronic platform EbixExchange from Ebix Europe, an international supplier of On-Demand software and E-commerce services to the re/insurance, financial, healthcare, and ... Read the full article
23rd October 2019
New funding commitments to the insurtech sector totalled $4.36 billion during the first three quarters of 2019, according to Willis Towers Watson. This figure is already 5% up on the total amount of investments in insurtech during the previous year. The broker recorded 239 total transactions across the year so far, 83 ... Read the full article
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
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
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
