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Willis Towers Watson news
Willis Towers Watson news related to the global insurance and reinsurance broker and consultancy.
US DOJ files antitrust lawsuit to block $30bn Aon / WTW combination
17th June 2021
The U.S. Department of Justice (DOJ) has filed a civil antitrust lawsuit to block the proposed $30 billion combination of Aon and Willis Towers Watson (WTW), stating that the merger threatens to eliminate competition, increase prices, and ultimately create a "broking behemoth." In response to the DOJ's announcement, Aon and WTW ... Read the full article
WTW, WWF target greater nat cat resilience in Fiji & Papua New Guinea
14th June 2021
Re/insurance broker Willis Tower Watson has announced a project to help support the climate adaptation and financial resilience of coastal communities in Fiji and Papua New Guinea (PNG) vulnerable to the impacts of climate change, including major shock events. The project, launched in partnership with the World Wide Fund for Nature ... Read the full article
Aon / WTW deal expected to gain EU antitrust approval by early July: Reuters
11th June 2021
Reuters, citing people familiar with the matter, has said that re/insurance broker Aon's proposed $30 billion combination with Willis Towers Watson (WTW) is expected to gain EU antitrust approval later in June or in early July. It looks as though the remedy package Aon submitted to the European Commission (EC) is ... Read the full article
Data is the biggest barrier when addressing climate risk: WTW
11th June 2021
According to a new survey by Willis Towers Watson (WTW), the availability of data is the biggest test firms expect to face over the next five years in order to address climate risk. The survey was created to gain insights on progress made to assess and manage the impact of climate ... Read the full article
WTW reports uptick in commercial insurance rates through Q1
10th June 2021
US commercial insurance prices increased again during the first quarter of 2021, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) by broker Willis Towers Watson (WTW). The survey compared prices charged on policies underwritten during the first quarter of 2021 to those charged for the same coverage and quarter ... Read the full article
IFRS 17 to cost global insurance industry as much as $20bn: WTW
7th June 2021
The implementation of IFRS 17, the International Financial Reporting Standard that was issued by the International Accounting Standards Board, is estimated to cost the global insurance industry as much as $20 billion, according to a survey by Willis Towers Watson (WTW). The global insurance and reinsurance broker recently polled 312 carriers ... Read the full article
WTW announces parametric cover for Mesoamerican Coral Reef system
4th June 2021
Re/insurance broker Willis Tower Watson has partnered with the Mesoamerican Reef Fund on the development and implementation of insurance solutions aimed at protecting and restoring the 1,000km reef system along the Caribbean coast post-hurricane. The parametric insurance covers hurricane risk to the critically endangered Mesoamerican Reef (MAR) and the communities dependent ... Read the full article
Aon announces further $1.4bn divestment to appease US regulators
3rd June 2021
Re/insurance broker Aon has announced the sale of two businesses for a combined total consideration of $1.4 billion, during a week that has seen its acquisition of Willis Towers Watson scrutinised by the US Department of Justice (DOJ). As part of the newly-unveiled divestiture, Aon’s US retirement business will be ... Read the full article
Aon / WTW believe DOJ leadership unlikely to challenge merger: reports
3rd June 2021
Specialist antitrust and mergers and acquisitions (M&A) publisher, CTFN, has reported that Aon and Willis Towers Watson (WTW) believe that leadership at the US Department of Justice (DOJ) is unlikely to challenge their proposed combination. Reports emerged recently that the DOJ has adopted a dual-track strategy for its review of ... Read the full article
WTW launches Sports & Entertainment Industry Group
3rd June 2021
Willis Towers Watson (WTW) has launched a new Sports & Entertainment Industry Group which will support the WTW global network with Sports & Entertainment (S&E) organisations, to identify, mitigate and transfer risks associated with the sector. Ian Tomlin, who is the Head of Accident and Heath, will lead the new group ... Read the full article
WTW expands broker network in Spain
2nd June 2021
Willis Towers Watson has expanded its broker network in Spain with the addition of two new outfits. The two firms WTW's ‘Networks’ unit has incorporated include Azetek Asesores de Seguros in Vitoria and Correduría Segurcisa in Cádiz. The unit now has four associates in the Basque Country and 11 in Andalusia. There are ... Read the full article
New Zealand extends Aon / WTW merger decision to July
25th May 2021
The New Zealand (NZ) Commerce Commission has failed to reach a decision on whether to approve the merging of Aon and rival Willis Towers Watson (WTW) by its deadline of May 25th, so has extended the date a decision is due by to July 2nd. New Zealand's Commerce Commission had launched ... Read the full article
Re/insurance industry execs support sale of Willis Towers Watson assets: KBW
20th May 2021
Florida and Bermuda insurance and reinsurance industry executives recently expressed "widespread support" for the sale of Willis Re and certain other Willis Towers Watson (WTW) assets to Arthur J. Gallagher (Gallagher), according to analysts at KBW. It was announced last week that Gallagher had agreed a $3.57 billion deal to ... Read the full article
Taiwan FTC approves Aon – Willis Towers Watson merger
19th May 2021
Taiwan's Fair Trade Commission has given its approval to Aon's acquisition of and merging with rival Willis Towers Watson (WTW), saying that it does not feel it will restrict competition in the marketplace. Taiwan's Fair Trade Commission (FTC) is the entity responsible for competition policy and regulation and like so many ... Read the full article
IDF program looks to develop parametric solutions in Colombia
18th May 2021
Public-private partnership the Insurance Development Forum (IDF) has launched a program aimed at developing a parametric flood and earthquake product, as well as an indemnity landslide protection, in Colombian city of Medellín. The project includes participation from IDF members Hannover Re and Willis Towers Watson and t is part of the ... Read the full article
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