Reinsurance News
Willis Towers Watson news
Willis Towers Watson news related to the global insurance and reinsurance broker and consultancy.
Reckitt Benckiser completes £415m buy-in with Scottish Widows
11th November 2020
The Reckitt Benckiser Pension Fund has secured a £415m buy-in with Scottish Widows, insuring the benefits of around half of the fund's pensioner liabilities. The £415m transaction is set to remove the interest rate, inflation and longevity risk relating to these liabilities. The transaction has only just been announced, although it ... Read the full article
WTW reports higher revenue in Q3; favourable reinsurance renewal factors
29th October 2020
Global insurance and reinsurance brokerage, Willis Towers Watson (WTW), has announced a 1% rise in revenue to $2.01 billion for the third-quarter of 2020. For the quarter, income from operations declined by 180 basis points compared to the same period in 2019, reaching $73 million. While net income of $121 million ... Read the full article
Insurtech fundraising hits $2.5bn in Q3: WTW
28th October 2020
Re/insurance broker Willis Towers Watson (WTW) has reported that insurtech firms raised a total of $2.5 billion across 104 deals during the third quarter of 2020. The total value raised was 63% higher than in the previous quarter, while the number of deals increased by 41%, according to the new Quarterly ... Read the full article
Willis Re completes $100mn ILS deal for Minnesota Life
27th October 2020
In collaboration with Willis Re, Willis Re Securities says it has structured and placed $100 million of insurance-linked securities (ILS) for Minnesota Life, a life insurance subsidiary of Securian Financial Group. With this deal, Minnesota Life will be the first US direct writer of life insurance to utilise an extreme mortality ... Read the full article
Sompo Holdings adopts Willis Towers Watson’s pricing solutions
26th October 2020
Insurance broker Willis Towers Watson says Sompo Holdings Asia has adopted its pricing solutions for retail business in the region in an effort to transform its pricing operations across 14 markets. Due to the current economic environment where consumer behaviour and financial markets are changing daily, it has become essential for ... Read the full article
M&A markets sees first positive performance in years: WTW
26th October 2020
New data from re/insurance broker Willis Towers Watson (WTW) shows that the global mergers and acquisitions (M&A) insurance market recorded its first positive performance in three years for completed deals. The market performed well despite the impact of the COVID-19 pandemic on deal-making during 2020, but WTW says that its data ... Read the full article
Car insurance premiums dropped by 1%: Willis Tower Watson
22nd October 2020
Willis Tower Watson's Car Insurance Price index has shown that comprehensive car insurance premiums have fallen by 1% (£5) in Q3 2020, due to the COVID-19 Pandemic. The index which was released in partnership with confused.com shows that the average cost of car insurance has now fallen for three consecutive quarters ... Read the full article
UK & EU regulators wrestle for oversight of Aon / WTW merger: reports
20th October 2020
British and European Union regulators are reportedly debating which authority will have oversight of some of Europe's largest mergers ahead of a Brexit trade deal deadline in December, including the planned combination of re/insurance brokers Aon and Willis Towers Watson (WTW). A Financial Times article, citing people briefed on the issue, ... Read the full article
COVID-19 tail unclear, but we’ve much further to travel in casualty: Willis Re
16th October 2020
While insurers and reinsurers looked to book much of their pandemic losses in the second-quarter, the potential for casualty lines development could persist for years and be very significant, according to executives at reinsurance broker Willis Re. It's likely to be years before we understand the full impact of the ongoing ... Read the full article
WTW launches real estate solution on DBS platform
16th October 2020
Global re/insurance broker Willis Towers Watson has announced the launch of a Real Estate Differentiated Broking Solutions (RE DBS). This solution sits alongside WTW's existing DBS programs and will serve clients across several industries, including real estate holding and other investment offices, hotels, rooming houses, camps and other lodging places, golf courses ... Read the full article
Willis Towers Watson adds Director of Climate Transition Risk
14th October 2020
Re/insurance broker, Willis Towers Watson (WTW) has announced the appointment of Tony Rooke as Director of Climate Transition Risk in the company's Climate and Resilience Hub (CRH). Rooke brings more than 22 years of global experience in climate change, sustainability, strategy, advisory and programme delivery to the broker. With this, he ... Read the full article
No significant capital rush amid investor trepidation: Willis Re execs
12th October 2020
While it's likely that more fresh capital will look to enter the re/insurance market in light of improving market conditions, investor trepidation remains amid continued financial market uncertainty and volatility, according to executives at Willis Re, the reinsurance broking of Willis Towers Watson (WTW). "We simply don't see capital rushing in," ... Read the full article
Intl. placements by WTW’s Global Markets Hub increase to $525m in premium
1st October 2020
Global insurance and reinsurance broker, Willis Towers Watson (WTW), has revealed that overall placements in the international market via its Global Markets Hub have increased by 67% year-on-year, reaching $525 million in premium. This growth has occurred despite the unexpected business conditions created by the global COVID-19 pandemic. One of the key ... Read the full article
Willis Tower Watson reshuffles global aviation department
25th September 2020
Re/insurance broker, Willis Towers Watson has announced a number of appointments across its global aviation team in a bid to provide better renewals for clients. Despite aviation being a challenging environment at present, Willis Towers Watson has reshuffled its aviation team with 45 appointments across all levels over the past 18 ... Read the full article
Willis Re unveils new Indonesia Flood model
24th September 2020
Willis Re, the reinsurance arm of global brokerage Willis Towers Watson (WTW), has launched a new fully probabilistic Indonesia Flood model, developed in collaboration with the Willis Research Network (WRN) and the National University of Singapore (NUS) Tropical Marine Science Institute (TMSI). Willis Re's new Indonesia Flood model provides a comprehensive ... Read the full article