Reinsurance News
WTW
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
WTW names new Corporate Risk and Broking Leader, Southern California
19th January 2022
Re/insurance broker WTW has appointed Jennifer Knox as its new Corporate Risk and Broking Leader for the Southern California market. Knox has worked in the Southern California marketplace for over 15 years and brings with her nearly 30 years of Commercial P&C experience spanning multiple disciplines and responsibilities. She recently launched the ... Read the full article
WTW appoints Julie Baker to new role
18th January 2022
WTW has appointed Julie Baker to be its new lead relationship management for the banking sector. Baker will begin her role in April, moving to WTW after working for over two decades at Marsh. There, she designed and managed bespoke financial lines programmes for a broad spectrum of financial services clients ... Read the full article
WTW forms new Crisis Management unit
13th January 2022
WTW has formed a new Crisis Management unit with the merger of SCR and its Terror and Political Violence teams which will sit within its Financial Solutions Global Line of Business. The new unit will be led Jo Holliday, Managing Director of SCR, and deliver crisis management and contingency risk management ... Read the full article
BMS Iberia names new Director of Affinity and Wholesale Partnerships, Spain & Portugal
12th January 2022
Independent specialist re/insurance broker BMS Iberia has appointed Jorge Melero as Director of Affinity and Wholesale Partnerships for Spain & Portugal, effective immediately. Based in Madrid, Melero will join BMS Iberia’s executive committee and will report to Fernando Claro, CEO of BMS Iberia. Prior to joining BMS, Melero was Commercial Director (Affinity) ... Read the full article
CCR Re names Thi Hoang Anh Nguyen as underwriter, Asia
12th January 2022
CCR Re has appointed Thi Hoang Anh Nguyen as an underwriter for Asia. She will report to John Conan, Head of non-life underwriting, Asia & Africa. Nguyen started her career as an underwriter for Vietnam National Aviation Insurance Corporation in Hanoi before joining Willis Towers Watson as accounts manager. She also previously worked ... Read the full article
WTW secures placement of London Stock Exchange’s first SPAC
8th December 2021
Global broker Willis Towers Watson has secured the insurance placement of Hambros Perks Acquisition Company, the first ever listing of a Special Acquisition Company (SPAC) on the London Stock Exchange. A SPAC is a company that has no commercial operations and is formed strictly to raise capital. The vehicle aims to raise upwards ... Read the full article
UK car insurance premiums lowest in 7 years, says WTW report
14th October 2021
Comprehensive car insurance premiums have fallen by 16% (equating to £97) since the third quarter of 2020, with UK motorists now paying £514 on average, according to a Willis Towers Watson-supported price index from Confused.com. Although the rate of decline slowed between July and September compared to the first half of ... Read the full article
Aon/WTW deal entering critical stage as US DOJ refuses to show its hand: reports
2nd June 2021
Reports emerging from specialist publisher The Capitol Forum describe The US Department of Justice (DOJ) as having adopted a dual-track strategy for its review of Aon's proposed acquisition of rival broker Willis Towers Watson. By simultaneously engaging in settlement talks and ensuring trial preparations are underway should it decide to mount ... Read the full article
Aon & Willis Towers Watson deal recommended by proxy advisors
11th August 2020
Proxy advisory firms Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co. have recommended the shareholders of both Aon and Willis Towers Watson (WTW) to vote in favour of their combination. In an independent report dated August 7th, 2020 ISS found that "the strategic rationale is sound" and subsequently recommended ... Read the full article
WTW amends 2020 short-term incentive compensation program for execs
8th June 2020
Global insurance and reinsurance broker Willis Towers Watson (WTW) has adopted changes to the short-term incentive compensation program (the STI Program) for its executive officers for 2020, designed to promote a more unifying, team mindset in light of COVID-19-related uncertainty. The changes mean that under the 2020 STI Program, all executive ... Read the full article