Reinsurance News
WTW
Global M&A set for rebound in 2024 after challenging year: WTW
15th January 2024
Recent data from WTW's Quarterly Deal Performance Monitor (QDPM) indicates a downturn in global mergers and acquisitions (M&A) activity in the final quarter of 2023, with buyers facing challenges in adding value. The study reveals that M&A deal performance hit an all-time low in Q4 2023, with companies completing deals underperforming ... Read the full article
Sustainability, technology and geopolitical challenges top risks for transport industry
10th January 2024
A new report from Lloyd's, the global insurance and reinsurance marketplace, in collaboration with WTW, delves into the challenges and opportunities facing the global transport and logistics industry. Titled On the move: Rethinking transport and logistics supply chains, the report underscores the risks and insurance prospects within a $9.7 trillion industry ... Read the full article
WTW names Despina Buganski Head of Personal Lines for CRB NA
9th January 2024
WTW, the global advisory, broking, and solutions company, has appointed Despina Buganski as the Head of Personal Lines for Corporate Risk & Broking, North America (CRB NA). Buganski, who previously held the position of Chief Operating Officer (COO) for the Personal Lines business, brings over 30 years of industry experience to ... Read the full article
WTW appoints Tyson Stevenson as MD, Real Estate Sales Management, CRB
20th December 2023
WTW, the global advisory, broking, and solutions company, has appointed Tyson Stevenson as the Managing Director of Real Estate Sales Management within its Corporate Risk and Broking (CRB) business in North America. Stevenson will be based in San Francisco and report directly to James Martuscelli, who leads the Real Estate, Hospitality, ... Read the full article
WTW to acquire Italian MGA AIMUW
14th December 2023
Global insurance and reinsurance broker WTW has signed a definitive agreement to acquire AIMUW, a specialist Managing General Agent in Italy. The deal is expected to be completed in January 2024, although the terms of the transaction are not disclosed. The deal reflects WTW’s strategy to invest in high-performing businesses and ... Read the full article
WTW launches CyProtect Bermuda to fortify enterprises against evolving cyber threats
13th December 2023
Global advisory, broking, and solutions company, WTW has announced the launch of CyProtect Bermuda, a cutting-edge cyber insurance product designed and tailored to be a comprehensive solution for financial, professional, and executive risks. WTW’s new tool is targeted towards large enterprises operating in the Bermuda market, and it aims to set ... Read the full article
U.S. commercial insurance prices rise 6.1% in Q3’23, double-digit surges in key sectors: WTW
11th December 2023
Global insurance brokerage WTW revealed that U.S. commercial insurance prices have sustained a consistent upward trend throughout the third quarter of 2023. According to the Commercial Lines Insurance Pricing Survey (CLIPS) conducted by WTW's Insurance Consulting and Technology (ICT) business, commercial premiums demonstrated a steady increase of 6.1%. The quarterly survey compared ... Read the full article
WTW adds new CRB leaders for Southeast Asia & Singapore
11th December 2023
Global insurance brokerage WTW has appointed Rupert Roberts as Head of Corporate Risk and Broking (CRB) for Southeast Asia, and Christine Lau as Head of CRB Singapore. Both appointments are effective January 2nd, 2024. Luke Ware, Head of CRB Asia, WTW, commented on the appointments, "The Southeast Asia region is a diverse, ... Read the full article
Role for insurance in Loss and Damage fund, but caution needed: Young, WTW
8th December 2023
The insurance industry needs to be cautious about how it positions itself to support the now operational Loss and Damage fund and not over promise on what it can deliver, Dr. Simon Young, Senior Director, Disaster Risk Finance & Parametrics at WTW, told Reinsurance News around the COP28 summit. On the ... Read the full article
Chris Condello to lead WTW’s new Asian Risk Division, within CRB North America
4th December 2023
WTW has announced the appointment of Chris Condello as Head of the newly created Asian Risk Division, within Corporate Risk and Broking (CRB), North America. The Asia Risk Division will consist of Japanese, South Korean, and newly created Indian and Chinese divisions. These groups were created to focus on the cultural and ... Read the full article
Host of economic shocks escalating debt crisis in emerging markets: WTW
30th November 2023
As per the latest Political Risk Index report from WTW, elevated government expenditures during the pandemic, global inflation, and increased interest rates in 2023 have contributed to an "escalating debt crisis in emerging markets." Evan Freely, Global Head of Financial Solutions, WTW, commented, “A conveyor belt of economic shocks has hit ... Read the full article
WTW and Sønr partner to strengthen innovation initiatives
30th November 2023
Sønr, the innovation scouting and collaboration platform, has announced a strategic partnership with WTW to "bolster" the insurance broker's innovation initiatives, and strengthen connectivity within its innovation teams globally. The pair state that this new collaboration is a significant milestone for both companies, underscoring a shared commitment to driving innovation in ... Read the full article
WTW adds Diego Ventosa Dünwald to Natural Resources team
29th November 2023
Global insurance brokerage WTW has appointed Diego Ventosa Dünwald as Energy and Infrastructure Growth Leader, Natural Resources, based in North America and reporting to Bill Helander, Head of Natural Resources at WTW North America. In his new role, Dünwald will be tasked with supporting clients globally with a focus in Latin ... Read the full article
Some bright spots, but P&C insurers face challenges and uncertainties: WTW
27th November 2023
Insurance broker WTW predicts that catastrophe-exposed property business will see price increases of between +10% to +25% in 2024 and warns that while commercial lines price increases have started to stabilise, it's a challenging and uncertain environment for P&C insurers heading into next year. The inflationary landscape continues to impact commercial ... Read the full article
Energy reinsurance market faces unanticipated challenges despite initial optimism: WTW
24th November 2023
In a surprising turn of events, the impact of reinsurance market dynamics on direct clients within the energy sector has not unfolded as expected, according to the latest findings in the October 2023 Energy Market Review by WTW. Earlier in the year, insurers were bracing themselves for the aftermath of challenging ... Read the full article