Reinsurance News
WTW
WTW is a leading broker, consultancy and advisory for the insurance and reinsurance sector. One of the largest insurance brokers in the world and with a new reinsurance broking venture underway, WTW is a key player in the market.
WTW appoints new head of affinity
18th March 2022
Global insurance broker, risk advisor and consultancy WTW has appointed Chris Gingell as global head of affinity. Scott Burnett, CCO for risk and broking at WTW, said “We are delighted to announce the appointment of Chris Gingell as our global affinity leader. Chris takes the helm at an incredibly exciting time ... Read the full article
Aon & WTW both pull business from Russia
14th March 2022
Broking giants Aon and WTW have both announced plans to withdraw all businesses from Russia, in response to the country’s invasion of Ukraine. Following the lead of Marsh McLennan last week, this means the world’s three largest insurance brokers have now all severed ties with Russia. Insurers such as Generali ... Read the full article
LIIBA appoints new chair
11th March 2022
The London & International Insurance Brokers Association (LIIBA) has announced that Alastair Swift, head of corporate risk and broking for global lines of business at WTW, as well as CEO of Willis Limited, will become its new chair. Swift will succeed Aon’s Richard Dudley in taking on his new role. Swift said: ... Read the full article
US commercial prices up 7% through Q4: WTW
10th March 2022
U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS), with the aggregate commercial price change measured at 7%. The survey compared prices charged on policies underwritten during the fourth quarter of 2021 with those charged for the same ... Read the full article
WTW names David Singh as Head of Climate Analytics
9th March 2022
WTW has appointed David Singh as Head of Climate Analytics and Exposure Management for its Insurance Consulting and Technology business, where he will be based in London. Singh served as the Group Head of Exposure & Portfolio Management at global insurer MS Amlin, where he was responsible for the group’s risk ... Read the full article
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
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