Reinsurance News
WTW
WTW announces third renewal for MAR insurance programme, with AXA climate as provider
1st June 2023
The Mesoamerican Reef Fund and WTW have announced the appointment of AXA Climate as the insurance capacity provider that will support the MAR Insurance Programme in its third annual placement with financial support from the InsuResilience Solutions Fund and the United Nations Development Programme, building on earlier support from the ... Read the full article
WTW launches intangible asset policy
30th May 2023
Global broker WTW has announced the launch of a financial product targeting clients looking to protect their intangible assets. Described as a first-of-its-kind product, WTW said its Intangible Asset Protection (IAP) looks to meet client demand and to fill a coverage gap in the market. An intangible asset is one that is ... Read the full article
WTW launches insurance product to protect intangible assets
25th May 2023
WTW, a global advisory, broking and solutions company, has introduced a new financial product targeting clients intending to protect and leverage their intangible assets by considering a transfer of the associated risks. An intangible asset is one that is not physical in nature but one that can hold significant value, and ... Read the full article
WTW releases IFRS 17 reporting solution
11th May 2023
Global advisory, broking and solutions company WTW has announced the release of its new IFRS 17 based reporting solution, Financial Results Analyzer (FRA). Developed by the company’s Insurance Consulting and Technology (ICT) business, WTW’s Financial Results Analyzer tool is designed to meet the IFRS 17 reporting requirements of re/insurers as they ... Read the full article
Insureds face mounting pressure as catastrophe capacity, reinsurance costs rise: WTW
11th May 2023
In an ever-evolving insurance landscape, insureds are bracing themselves for continued challenges as they navigate a market grappling with increasing premiums, reinsurance optimization, and a persistent focus on asset valuation, WTW noted in its Insurance Marketplace Realities 2023 Spring Update. The pressure to achieve higher returns for the deployment of catastrophe ... Read the full article
Most coverage lines stabilising, D&O holds softest rates: WTW
5th May 2023
WTW, a global advisory, broking and solutions company has released its latest Insurance Marketplace Realities (IMR) report, showing that most coverage lines continue to demonstrate a stabilizing market trend that began in early to mid-2022. While a lot of coverage lines are demonstrating increases, analysts say they are more manageable than ... Read the full article
WTW launches new Data Science Consultancy unit
4th May 2023
WTW has announced the launch of a new Data Science Consultancy unit to "help insurers unlock huge untapped value from their data." The new consultancy, which will exist within WTW’s Insurance Consulting and Technology (ICT) business, will specialise in helping insurers extract greater value from data science to drive better business ... Read the full article
WTW launches next-generation trading solution to connect underwriters and brokers at speed
2nd May 2023
Re/insurance broker WTW has announced the global launch of Neuron, a digital insurance platform that uses cutting-edge technology to help underwriters and brokers connect and trade more easily. The platform also helps improve both the speed and cost of doing business through digitisation, automation and better use of data. WTW stated that ... Read the full article
WTW introduces ESG initiative to help clients manage climate risks
28th April 2023
Global brokerage WTW has expanded its predictive climate analytics capabilities with the introduction of a new Environmental, Social, and Governance (ESG) initiative. WTW’s Climate Risk Solutions for Corporate Risk & Broking (CRB) North America, is a fully integrated strategy combining the breadth of the broker’s ESG resources to help its clients ... Read the full article
WTW appoints Anthony Grosso to NA Client Experience role
27th April 2023
WTW, a global advisory, broking and solutions company, has announced the appointment of Anthony Grosso as its new Deputy Client Experience Officer, Corporate Risk & Broking (CRB) for North America. Grosso will be reporting directly to Rick Hawkinberry, the Chief Client Experience Officer. Grosso in his new role will assist with ... Read the full article
WTW reports organic revenue growth of 8% in Q1’23
27th April 2023
Re/insurance broker WTW has reported revenue of $2.24 billion for the first quarter of 2023, representing an increase of 4% compared with the $2.16 billion it reported for the same period in 2022. On an organic basis, revenue increased by 8%, and WTW continues to target "mid-single digit" organic revenue growth ... Read the full article
WTW names SCOR’s Thinnes as Head of Energy & Construction Property
26th April 2023
Global brokerage WTW has appointed Matthew Thinnes as Head of Energy & Construction Property on its Direct and Facultative team, based in North America. Based in New York, Thinnes joins the firm with over 20 years of industry experience. In his most recent role he served as Vice President – North America Construction Manager, at ... Read the full article
Economic & cyber hailed as biggest risks surrounding D&O: WTW & Clyde & Co
25th April 2023
According to a new survey from brokerage WTW and global law firm Clyde & Co, economic and cyber risks, particularly those associated with data loss and ransomware, are causing increasing concern for Directors and Officers (D&O). The Director’s and Officers’ Liability survey identifies the key risks that surround Directors across the ... Read the full article
UK car insurance premiums up by 20%, the biggest annual rise over a decade
25th April 2023
Comprehensive car insurance premiums have risen by 20% during the last 12 months, making the average cost of a car insurance policy the most expensive it has been since 2011, according to the latest Confused.com Car Insurance Price Index in association with WTW. By the first quarter of 2023, premiums have ... Read the full article
WTW’s broking platform now enables digital trading
24th April 2023
WTW a global advisory, broking and solutions company, has announced that the WTW broking platform is now enabling digital trading with Zurich as part of its ongoing evolution. The aim of WTW’s integration with Zurich Commercial UK is to further strengthen WTW as a leader in digital broking by developing the ... Read the full article
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