Reinsurance News
WTW
WTW makes senior hire within consulting & tech unit
2nd March 2022
Re/insurance broker WTW has announced the appointment of Pardeep Bassi as Global Proposition Leader in Data Science for its Insurance Consulting and Technology business. In this newly created role, Bassi will lead the advancement of the unit’s data science capability globally, building on WTW’s analytics and data science software, Emblem and ... Read the full article
90% of insurers think automation is key to regulatory pressure: WTW
1st March 2022
90% of insurers surveyed by WTW have said automation is key to solving the pressures placed on them by regulators. Surveying 61 insurers across 17 countries, WTW said that the majority of respondents thought that cost management, a shortage in skilled resources, and improving governance and auditability, could be met with ... Read the full article
WTW Singapore makes two senior appointments
1st March 2022
WTW has appointed Choo Oi San as Singapore Country Leader, and Ludan Wang as Head of Corporate Risk and Broking (CRB) for Singapore. Oi San will hold dual capacity, combining her new role with her current position as Division Leader for South Asia and Emerging Markets, Insurance Consulting and Technology business. In ... Read the full article
WTW appoints new Asia-Pacific head of Captive Management operations
22nd February 2022
WTW has appointed Lawrence Bird to be the head of its Captive Management operations in the Asia-Pacific region. According to WTW, Lawrence will be based in Singapore reporting to Peter Carter, the head of WTW’s Global Captive Practice. In a statement, Carter said: “We are delighted that Lawrence will be joining us. ... Read the full article
WTW partners with Falvey Cargo Underwriting on cyber coverage
18th February 2022
Re/insurance broker WTW has announced a new affirmative cyber coverage product for cargo and stock throughput risks, which is the result of a collaboration with Falvey Cargo Underwriting, a Falvey Insurance Group company. According to WTW, the product will be the first standalone cargo cyber solution available in the insurance marketplace. Among ... Read the full article
QIS Framework to hinder growth and investment in UK: WTW
16th February 2022
Re/insurance broker WTW has released a report, exploring the key challenges that come from the PRA's Quantitative Impact Study, whilst analysing HM Treasury’s call for evidence on re-shaping the UK insurance regulatory regime. The purpose of the study is to explore variations in several technical aspects of particular importance to writers ... Read the full article
77% of senior execs lack confidence in firms’ ESG approach
10th February 2022
More than three quarters of global executives lack confidence in their companies’ approach to ESG topics. This is according to a new report just released by WTW. It found that while 83% of senior executives take reputational risk seriously, 77% are not fully confident in their company’s ‘risk readiness’. A slightly ... Read the full article
WTW reports 6% organic revenue growth for 2021
8th February 2022
Re/insurance broker WTW has reported organic revenue growth of 4% in the fourth quarter of 2021 and 6% for the full year, boosted by positive organic results within its Investment, Risk & Reinsurance (IRR) segment. The IRR segment posted huge organic change of 32% for the quarter and 16% for the ... Read the full article
WTW hires Grimwade from Aon for Direct & Fac expansion
2nd February 2022
WTW has appointed Matt Grimwade to be its new client relationship director for large and complex risks. In his new position, Grimwade will be responsible for complex property placements for clients within the Global Markets Direct & Facultative Line of Business. He will provide clients with access to the global marketplace to ... Read the full article
Is pension scheme derisking heading into a boon year in 2022?
31st January 2022
WTW has posited that pension scheme derisking will have a boon year in 2022, according to a new report the company has put out this week. The work, WTW’s de-risking report 2022 titled A Bright Future Ahead, predicts that this year will be the fourth in a row that bulk annuities ... Read the full article
WTW sets up cybercrime task force
28th January 2022
Re/insurance broker WTW has announced the formation of its CyberCrime task force within its Financial, Executive and Professional Risks (FINEX) global practice. The objectives of the task force include tailoring traditional or alternative risk transfer solutions for client’s enterprise risk management objectives, as well as identifying and advising on emerging risks ... Read the full article
WTW teams up with Thatcham Research for vehicles claims analysis
27th January 2022
WTW is to team up with Thatcham Research to work on how new vehicle technology will impact on claims risk. The partnership between will include the latter’s Variant Code dataset that reportedly provides granularity on the growing variety of standard and optional features in UK vehicles. It will also involve WTW’s ... Read the full article
Lou Smith to lead WTW’s Consulting and Technology business
24th January 2022
WTW has has appointed Lou Smith to the company’s Insurance Consulting and Technology business, where she will lead the unit’s Commercial Lines data strategy and expand its digital trading capability. Smith most recently served as the first Chief Digital Officer at Lloyd’s of London, holding the responsibility for shaping and delivering ... Read the full article
PIC signs £250mn partial buy-in with IMI pension fund
21st January 2022
Pension Insurance Corporation (PIC) has concluded another partial buy-in with the Trustee of the IMI plc's 2014 Deferred Fund, which covers £250 million in liabilities for approximately 1,200 Fund members, 95% of which are deferred members. The transaction, which was finalised in December, is the fifth buy-in since 2016 and takes ... Read the full article
Aon’s Stefan Weda to join WTW as leader of CRB Benelux
21st January 2022
Stefan Weda has joined insurance and reinsurance broker, WTW, from rival Aon as the new leader of the company's Corporate Risk & Broking (CRB) operation for the Benelux countries. Effective May 1st, Weda takes on responsibility for accelerating growth in the CRB markets across the region, and for leading the Benelux ... Read the full article
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