Reinsurance News

Willis Towers Watson news

Willis Towers Watson news related to the global insurance and reinsurance broker and consultancy.

Gallagher to acquire Willis Re’s treaty reinsurance operations

13th August 2021

Arthur J. Gallagher & Co. has announced that it will be acquiring all of Willis Re's treaty reinsurance brokerage operations for an initial gross consideration of $3.25 billion; a figure which could rise by another $750 million dependent on certain third-year revenue targets. After seeing its proposed acquisition of Willis ... Read the full article

WTW appoints Jon Drummond to lead North America broking operations

13th August 2021

Global advisory, broking and solutions company Willis Towers Watson has announced the appointment of Jon Drummond as its new Head of Broking North America. Drummond will be responsible for leading the company’s North America broking operations and strategy, while also driving the transformation of digital broking. He'll be based in Chicago and ... Read the full article

WTW links Ecological forestry to 41% fall in residential insurance premiums

9th August 2021

A new study by global conservation organisation The Nature Conservancy and re/insurance broker Willis Towers Watson has found a 41% decrease in residential insurance premiums when ecological forestry is applied to relevant areas. By modelling the impact on insurance of controlled burning and ecological thinning of overgrown forests, researchers at TNC ... Read the full article

Life and P&C insurers to accelerate automation use over the next five years

5th August 2021

A new survey by Willis Towers Watson suggests global life and property and casualty (P&C) insurers want to improve the efficiency and auditability of their processes and close the gap between their current use of automation and where they aspire to be in five years. The survey quesrtioned life and P&C ... Read the full article

WTW looking at strategic options for Willis Re, confirms CEO Haley

3rd August 2021

John Haley, the Chief Executive Officer (CEO) of global brokerage Willis Towers Watson (WTW), confirmed today that the company is conducting a review of strategic alternatives for its reinsurance arm, Willis Re. Back in May, it was announced that Gallagher had reached an agreement with Aon and WTW to acquire ... Read the full article

WTW reports increased income, revenue for second quarter

3rd August 2021

Re/insurance broker Willis Towers Watson has announced second quarter net income of $186 million, up from the $102 million reported in the prior year period. Revenue was $2.29 billion, an increase of 8% from the $2.11 billion reported a year ago. Adjusted operating income was $409 million, or 17.9% of revenue, an ... Read the full article

Aon could have closed WTW deal, but options unappealing: CEO Case

30th July 2021

Global insurance and reinsurance broker Aon could have completed its now terminated $30 billion combination with Willis Towers Watson (WTW), but the two options proposed to close the deal would have been damaging for the firm, according to its Chief Executive Officer (CEO), Greg Case. Aon released its second-quarter 2021 ... Read the full article

Gallagher views M&A a key growth engine despite Aon / WTW deal collapse

30th July 2021

Gallagher’s Chairman, President and Chief Executive Officer J. Patrick Gallagher, Jr. has underlined the broker’s commitment to mergers and acquisitions as a “proven strategic growth engine,” despite the breakdown of its deal with Aon to acquire chunks of rival Willis Towers Watson. His comments came alongside Gallagher’s quarterly results statement, ... Read the full article

InsurTech investment reached record high in H1 2021: WTW

29th July 2021

Global investment in the InsurTech sector reached a record during H1 2021, as half-year funding of $7.4 billion exceeded full-year investment in 2020, and in every other year, according to a new report by insurance and reinsurance broker, Willis Towers Watson (WTW). In Q2 2021, 162 deals yielded more than $4.8 ... Read the full article

Aon establishes executive committee in client-focused strategic push

28th July 2021

Global re/insurance broker Aon has established a new executive committee intended to help facilitate it in accomplishing the objectives laid out across its four-pronged United blueprint. The motivations driving Aon's United Blueprint include creating new sources of value for clients, delivering more effective client service, driving innovation at scale and ensuring ... Read the full article

DoJ hails ‘victory for competition’ as Aon CEO laments poor timing

27th July 2021

Attorney General Merrick B. Garland has hailed the breakdown of the proposed combination of Aon and Willis Towers Watson (WTW) as a "victory for competition and for American businesses", as Aon CEO Greg Case notes poor timing and factors outside of their control. After filing a civil antitrust lawsuit to block ... Read the full article

Gallagher confirms termination of deal to acquire certain WTW assets

27th July 2021

Arthur J. Gallagher & Co. has confirmed that its agreement to acquire certain assets of Willis Towers Watson (WTW) has been terminated owing to the collapse of the $30 billion combination of Aon and WTW. As Aon and WTW attempted to get their proposed merger over the line amid an array ... Read the full article

Willis Towers Watson looks to return Aon merger termination fee to shareholders

27th July 2021

It appears global re/insurance broker, Willis Towers Watson (WTW), has decided to return its Aon merger termination fee to shareholders, increasing its share repurchase program by $1 billion. After news broke yesterday that Aon and WTW decided to scrap their $30 billion mega-merger plans, Aon said that it would be ... Read the full article

Analysts see ‘more go-it-alone headwinds’ at WTW than Aon as merger collapses

26th July 2021

As news broke today that Aon's proposed combination with rival re/insurance brokerage Willis Towers Watson (WTW) has been terminated, analysts at Keefe, Bruyette & Woods (KBW) see greater headwinds for WTW moving forwards. The proposed $30 billion mega-merger of two of the world's largest brokers fell apart today as the ... Read the full article

Aon, WTW terminate attempted mega-merger

26th July 2021

Re/insurance broking giants Aon and Willis Towers Watson have terminated their much publicised mega-merger, 16 months after the deal was officially announced to the world. The decision appears to have been driven by what Aon Chief Executive Officer Greg Case describes as "an impasse with the US Department of Justice." Despite quickly ... Read the full article