Reinsurance News
Willis Towers Watson news
Willis Towers Watson news related to the global insurance and reinsurance broker and consultancy.
Aon/WTW merger talks began in January 2019
11th May 2020
Discussions about a potential merger between re/insurance brokers Aon and Willis Towers Watson (WTW) began in January 2019, according to a new timeline of the transaction released by both firms. The document shows that CEOs Greg Case and John Haley first met on January 30, 2019 to explore options for a ... Read the full article
COVID-19 pandemic is not an insured event, but a reputational one: WTW
7th May 2020
Insurance and reinsurance broker Willis Towers Watson (WTW) highlights an uncertain and pressured outlook for North American commercial insurance buyers in light of the COVID-19 pandemic. In its Insurance Marketplace Realities 2020 Spring Update, WTW predicts large reductions in insurable values but notes that overall, not one line of business predicts ... Read the full article
Willis Towers Watson forms specialist team for distressed organisations
7th May 2020
Re/insurance broker Willis Towers Watson has announced the formation of a Strategic Solutions Group (SSG) within its within its Financial, Executive and Professional Risks (FINEX) global practice and Mergers & Acquisitions Group. SSG will provide specialised risk services to distressed organisations, focusing in particular on risk, insurance and claim challenges faced ... Read the full article
COVID-19 linked to 54% drop in Q1 insurtech funding: WTW
4th May 2020
A new report from Willis Towers Watson (WTW) has found that insurtech investment worldwide totalled about $912 million during the first three months of 2020. At 96, deal count was up 28% over Q4 2019, but overall funding was down 54%, with analysts attributing the drop in part to the COVID-19 ... Read the full article
Severe scenario puts COVID-19 (US & UK) insured losses at $80bn: WTW
1st May 2020
Under a severe scenario, COVID-19 insurance and reinsurance industry losses for key classes of business in the U.S. and the UK (including the London Market) could be at least $80 billion, according to a report from Willis Towers Watson's (WTW) Insurance Consulting and Technology business. The report is the first to ... Read the full article
Willis Towers Watson launches new cyber cover for shipowners
1st May 2020
Re/insurance brokerage Willis Towers Watson has announced the launch of CyNav, a new type of cyber insurance cover designed specifically for shipowners. The new product aims to provide a solution that specifically addresses ship-operators’ needs, rather than trying to amend existing cyber products to fit marine exposures. Notably, CyNav includes crisis management ... Read the full article
WTW grows organic revenue 4% in Q1, withdraws 2020 guidance
30th April 2020
Global re/insurance broker Willis Towers Watson saw organic revenue hit 4% in the first quarter, while also announcing its decision to withdraw 2020 guidance over ongoing coronavirus fears. It was ultimately decided that WTW should reassess at a future date when it has a clearer understanding of the depth, duration, and ... Read the full article
Aon, WTW merger to be a positive catalyst: CEO Greg Case
29th April 2020
Greg Case, the Chief Executive Officer of leading re/insurance broker Aon, believes his company’s forthcoming combination with Willis Towers Watson will be a positive catalyst enabling accelerated innovation on behalf of clients. In an official statement to colleagues earlier this week, Case noted how the all-stock combination requires no financing ... Read the full article
WTW announces leadership changes in Singapore & South Asia
23rd April 2020
Global re/insurance brokerage Willis Towers Watson (WTW) has appointed Leng Leng Ng as Country Leader for Singapore as Vivek Nath transitions to lead the company's Corporate Risk and Broking (CRB) operation in South and Southeast Asia. Ng takes on the responsibilities in addition to her role as Head of CRB in ... Read the full article
Covid-19 claims manageable, but reinsurers face formidable challenges: Willis Re
23rd April 2020
Willis Re, the reinsurance broking arm of Willis Towers Watson (WTW), has said that while reinsurance claims from the global COVID-19 pandemic are likely to be manageable, the industry is facing some formidable challenges. In a recently published COVID-19 Impact report, reinsurance broker Willis Re says that so far, reinsurers have ... Read the full article
Willis Towers Watson names Cyrille de Montgolfier as Head of France
23rd April 2020
Re/insurance broker Willis Towers Watson has announced the appointment of Cyrille de Montgolfier as the new leader of its French business, Gras Savoye Willis Towers Watson. De Montgolfier takes up the position of Head of France on 27 April and will be based in Paris. He has over three decades of insurance ... Read the full article
Covid-19 shows sensitivity of re/insurers to equity market volatility: Willis Re
17th April 2020
The global reinsurance capital base is expected to take a hit of approximately 5% from the financial impacts of the Covid-19 coronavirus pandemic, reports Willis Re, the reinsurance arm of global brokerage Willis Towers Watson (WTW). The reinsurance broker's Strategic and Financial Analytics teams' 5% estimate is a marked improvement on ... Read the full article
Climate risk to transform energy sector: Willis Towers Watson
16th April 2020
Analysts at Willis Towers Watson (WTW) have suggested that climate change risks and environmental social governance (ESG) will have a transformative effect on the energy insurance industry in the coming years. As part of its annual Energy Market Review, WTW noted that the recent oil price war and the reduction in ... Read the full article
WTW adds Matt Scott as climate, resilience senior director
16th April 2020
Global re/insurance broker Willis Towers Watson has appointed Matt Scott as a senior director within its Climate and Resilience Hub. Scott brings more than 20 years’ experience to the role, having most recently played an integral role in the Bank of England’s climate team under Governor Mark Carney from 2014. In his ... Read the full article
WTW calls for long-term view to M&A deals amid COVID-19 uncertainty
9th April 2020
As the global merger and acquisition (M&A) market continues to trend downwards, re/insurance broker Willis Towers Watson (WTW) has called on business leaders to draw on lessons from the 2008 financial crisis and take a long-term view to deals amid widespread uncertainty. Insurance and reinsurance brokerage firm WTW notes that since ... Read the full article