Reinsurance News
Willis Towers Watson news
Willis Towers Watson news related to the global insurance and reinsurance broker and consultancy.
WTW reports 6% overall growth for 2019
6th February 2020
Global insurance and reinsurance broker Willis Towers Watson has reported 6% overall growth for 2019, with revenue standing at $9.04 billion. Organic revenue growth was reported at 6% for the quarter and 5% for the full year. Also for the fourth quarter, WTW’s Investment, Risk & Reinsurance segment posted revenue of $314 ... Read the full article
Willis Towers Watson’s Angel Hoover appointed Head of Benelux
3rd February 2020
Global insurance and reinsurance broker Willis Towers Watson has named Angel Hoover as Head of Benelux, and Joris Wonders as Head of Talent and Rewards for Western Europe. Based in Amstelveen in the Netherlands, Hoover takes responsibility for implementing the firm's strategic vision and driving client satisfaction across the region. Her ... Read the full article
Insurtech investment soared to $6bn in 2019, says WTW
30th January 2020
The insurtech sector received $6.37 billion in investments throughout 2019, with nearly $2 billion of that figure coming from the fourth quarter alone, a Willis Towers Watson report has found. During the year, eight rounds of investment took place which led to the creation of five insurtech start-ups valued at over ... Read the full article
P&C re/insurers slow to implement advanced analytics: WTW
30th January 2020
A recent Willis Towers Watson survey of the US and Canadian property and casualty (P&C) market has revealed that most re/insurers have been implementing advanced analytics at a much slower rate than anticipated. The broker reported that, in general, companies had either been overly ambitious in their goals for using analytics ... Read the full article
WTW bolsters cyber modelling suite with security ratings platform
29th January 2020
Re/insurance broker Willis Towers Watson has integrated SecurityScorecard security ratings into its cyber risk quantification modelling platform. SecurityScorecard reviews a company’s technical security and in order to forecast potential data breach frequencies and related impacts. Ratings are provided to companies which can be used to improve their cyber security as well as ... Read the full article
Global insured catastrophe losses below average at $53bn in 2019: WTW
24th January 2020
A combination of smaller and medium-sized events resulted in total insured catastrophe losses of approximately $53 billion in 2019, according to insurance and reinsurance broker Willis Towers Watson (WTW). At $53 billion, insurance industry losses from catastrophe events during 2019 come in roughly 18% lower than the annual average since 2011, ... Read the full article
Willis Re appoints Cameron Green to lead intl casualty practice
21st January 2020
Willis Re, the reinsurance arm of global brokerage Willis Towers Watson, has appointed Cameron Green to lead its international casualty reinsurance practice and serve as chair of its Australian business. Green, who has been Willis Re’s Chief Executive Officer in Australia since 2013, will be responsible for the casualty practice segment’s ... Read the full article
WTW anticipates a busy year for longevity hedging & bulk annuities
21st January 2020
Global insurance and reinsurance brokerage, Willis Towers Watson (WTW), is expecting a busy year in the longevity de-risking markets after a record-breaking 2019. In 2019, £41 billion of bulk annuities completed alongside £12 billion of longevity swaps, making it a record year for the longevity de-risking sector. In a recent report, WTW ... Read the full article
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