Reinsurance News
WTW
WTW Research Network & London Mathematical Laboratory partner on nat cat models
15th February 2024
WTW, the global advisory, broking and solutions company, has announced a new collaboration between its subsidiary WTW Research Network and the London Mathematical Laboratory to better inform decision-making through catastrophe models. This new agreement will inform the use of mathematical modelling for insurance, to help mitigate natural catastrophe risk. The pair note ... Read the full article
WTW and The Nature Conservancy expand US coral reef parametric insurance policy
14th February 2024
WTW and The Nature Conservancy (TNC) have announced the purchase of a new coral reef parametric insurance policy that expands coverage around the main Hawaiian islands and increases payouts after qualifying storms. This new policy replaces the first U.S. coral reef insurance policy purchased in 2022 and adds 314,976 square ... Read the full article
WTW and Solomon Agency Corporation form co-brokerage partnership to serve Asian clients
13th February 2024
Global broking firm WTW, has announced a strategic co-brokerage arrangement with the Solomon Agency Corporation aimed at enhancing insurance brokerage and risk management services for companies headquartered in South Korea and Vietnam, operating in North America. The agreement, centered on insurance brokerage, risk management, and related services, seeks to leverage the ... Read the full article
WTW unveils primary cyber, tech E&O facility for international clients
12th February 2024
Global broking firm WTW, has announced that it has launched an International CyCore Facility (ICF) aimed at international clients headquartered outside of Great Britain and the United States, with revenues up to US$1 billion (or the equivalent currency). According to WTW, the ICF is a tailored solution which covers malicious acts, ... Read the full article
WTW hires Ryohei Nakazawa to lead CRB business in Japan
8th February 2024
Global advisory, broking and solutions company WTW has appointed Ryohei Nakazawa as its new Head of Japan and Head of Corporate Risk and Broking (CRB) in the country, effective 1st April 2024. He will be based in Tokyo with a dual line of reporting to Luke Ware, Head of CRB Asia, ... Read the full article
WTW reports organic revenue growth of 6% for Q4’23
6th February 2024
Global brokerage firm WTW has reported 6% organic revenue growth for the fourth quarter of 2023 to $2.91 billion, while net income for the period rose by 5%, year-on-year, to $623 million. For the full year 2023, WTW achieved 8% organic revenue growth to $9.48 billion, while net income for the ... Read the full article
WTW names Anthony Borgman as Head of Affinity Great Britain to drive growth
6th February 2024
Global advisory, broking and solutions company WTW, has announced the appointment of Anthony Borgman to the newly created role of Head of Affinity Great Britain. This strategic move marks a significant step in the expansion of WTW's Global Affinity business, following the recent appointment of Paul Lubbers as the US Head ... Read the full article
WTW unveils parametric insurance protection for endangered South Pacific coral reef system
5th February 2024
Broker WTW, has launched a new parametric insurance policy that will help protect the coral reef system of the South Pacific Ocean’s volcano-formed Lau Group of islands, which is regarded as being one of the most vulnerable and isolated places on Earth. Located on the eastern side of the Fiji archipelago, ... Read the full article
WTW launches cyber insurance solution for SMEs in North America
2nd February 2024
Global insurance broker WTW has launched a new cyber insurance solution tailored for small and medium-sized enterprises (SMEs) spanning industries across North America. This solution is tailored for businesses with annual revenues under $50 million, including start-ups and pre-revenue accounts. The firm states that this new cyber solution is crafted to ... Read the full article
Disasters in 2023 highlight need for proactive approach to risk mitigation: WTW
29th January 2024
According to the latest edition of WTW's Natural Catastrophe Review, the numerous unanticipated disasters recorded in 2023 have highlighted the need for a "proactive approach" to risk identification, mitigation and adaptation. "In a world increasingly shaped by ageing infrastructure, climate change and urban growth into risk-prone areas, we are now facing ... Read the full article
UK car insurance premiums see sharp increase in 2023: WTW
29th January 2024
Car insurance premiums in the UK have increased sharply by 58% in 2023 with UK motorists now paying £995 on average, according to the latest Confused.com Car Insurance Price Index in association with broker WTW. The Index recorded a £366 year-on-year increase from the £629 recorded in 2022. Car insurance premiums ... Read the full article
WTW hires Allianz’s Jody Yee to lead US East Coast TMT team
24th January 2024
Global re/insurance broker, WTW has appointed Jody Yee as the US East Coast Leader for the Technology, Media & Telecommunications (TMT) industry division within the Corporate, Risk, and Broking business in North America (CRB NA) . Based in New York, Yee will bring his deep insurance experience and industry-specific expertise to ... Read the full article
2024 to see £80bn in DB de-risking transactions: WTW
23rd January 2024
According to broker WTW, the UK defined benefit pensions market is likely to see £80 billion in pension de-risking transactions take place in 2024, as the settlement market continues to heighten following considerable improvements in pension scheme funding witnessed across 2023. Data from the broker's annual Pensions De-risking report shows that insurers ... Read the full article
WTW names Michael Creighton Head of GB Trade Credit and Trade Finance
22nd January 2024
Global advisory, broking and solutions company WTW, has announced the promotion of Michael Creighton to Head of Trade Credit and Trade Finance, Great Britain, effective immediately. In this newly created role, he will report to Paul Lacey, Head Of Financial Solutions GB, and will be responsible for implementing WTW’s growth strategy ... Read the full article
Miranda Rodriguez returns to WTW as Residential Segment Leader within CRB, NA
19th January 2024
WTW, the global advisory, broking and solutions firm, has hired Miranda Rodriguez as Residential Segment Leader in the Real Estate, Hospitality, and Leisure industry division of Corporate, Risk, and Broking (CRB), North America. Based in South Carolina, she will report to Jim Martuscelli, Head of Real Estate, Hospitality, and Leisure division, ... Read the full article