Reinsurance News
WTW
WTW posts 3% organic growth, maintains full-year targets
28th July 2022
Re/insurance broker WTW has posted 3% organic revenue growth for the second quarter of 2022, despite total revenues declining by 3% to $2.03 billion. After posting 2% organic growth in Q1, the broker seems to remain slightly below its target of “mid-single digit” organic revenue growth for the full year, ... Read the full article
Solvency II reforms could create “clear winners and losers” – WTW
25th July 2022
WTW has issued a statement on Solvency II reforms, saying that the package of reforms under consultation has the potential to create clear winners and losers if the “parametrisation” of the Matching Adjustment (MA) provisions indicated by the Prudential Regulation Authority is not recalibrated in line with SII. In particular, ... Read the full article
WTW makes series of appointments within its NA Natural Resources business
22nd July 2022
WTW has made a significant investment towards its North American Natural Resources business, as the re/insurance broker has appointed five new industry leaders to bolster the existing North American team. Based in Houston, the new team members will bring expertise to focus on this globally important industry, with a sub-sector focus ... Read the full article
UK car insurance premiums increase by 6%, industry facing a “raft of challenges”: WTW
21st July 2022
Comprehensive car insurance premiums have increased by 6% (£32) during the last 12 months, with UK motorists now paying £554 on average, according to data from WTW and Confused.com Car Insurance Price Index. WTW recently warned that UK motor claims inflation was on the rise, as the broker recently revealed ... Read the full article
WTW names Hector Martinez new LatAm head, Luis Maurette to retire
18th July 2022
Advisory and broking solutions company WTW has named Hector Martinez as its new head of Latin America. He is to succeed Luis Maurette, current head of the region and head of global sales and client management, who is to retire on 31 December, 2022. Maurette will work with Martinez and the three ... Read the full article
UK motor claims inflation on the rise – WTW
18th July 2022
The inflation rate for motor claims settled in 2021 was over 6%, far higher than last year’s UK general inflation rate of 2.1%, according to new data from WTW. The average cost per claim in 2021 was £5349, up from £5037 the previous year. However, a combination of ... Read the full article
WTW appoints Iris Chan as Head of Corporate Risk and Broking, Hong Kong
15th July 2022
WTW has announced the appointment of Iris Chan as Head of Corporate Risk and Broking (CRB) for Hong Kong. Iris has held various senior positions with major insurance brokers in Asia over a 20 year career. She joined WTW in 2012 and has been expanding the construction ... Read the full article
M&A market buoyant despite economic instability – WTW
14th July 2022
Reports of global merger and acquisition (M&A) activity entering a dry spell appear to be premature, WTW says. Dealmakers have recorded the third highest number of completed deals in an opening six months since WTW began tracking M&As in 2008. In fact the only years that have surpassed the ... Read the full article
WTW announces acquisition of Butterwire
13th July 2022
Re/insurance broker WTW has announced the acquisition of Butterwire – a FinTech provider of data analytics, AI, and machine learning platforms. The acquisition will help to further strengthen WTW’s world-leadingcli capabilities in delivering climate risk analytics to organisations around the world. Butterwire’s team of research, data science and software engineering professionals offer ... Read the full article
WTW appoints senior industry figure to its risk and capital management team
8th July 2022
Advisory and broking solutions company WTW, has appointed Kartina Tahir Thomson to the company’s Insurance Consulting and Technology business. Tahir Thomson will be based in London, where she started her new role on 1 July. With over 20 years of actuarial, risk, governance and regulatory experience, she will play an integral role ... Read the full article
Marsh McLennan extends lead as top global broker based on 2021 revenues
6th July 2022
Marsh McLennan remains the world's largest re/insurance broker, in terms of total revenues, which reached a huge $19.8 billion for the firm in 2021, according to our directory of the Top 20 Global Insurance & Reinsurance Brokers, based on research data from A.M. Best. Year-on-year, Marsh McLennan's ... Read the full article
WTW adds Munich Re & AXA Climate as capacity providers for expanded reef project
5th July 2022
WTW, along with the Mesoamerican Reef Fund (MAR Fund) and the InsuResilience Solutions Fund has appointed Munich Re and AXA Climate as the insurance capacity providers that will support the MAR Insurance Programme, a central pillar of MAR Fund’s Reef Rescue Initiative. Using a model designed by WTW that captures the ... Read the full article
WTW appoints new Global Head of ICT business
30th June 2022
Advisory and broking solutions company WTW, has appointed Frank Schepers to lead its Insurance Consulting & Technology (ICT) business. He replaces Alice Underwood, who is retiring this year after 16 years of dedicated service to WTW, which includes five years as head of ICT, leading the company through a period of ... Read the full article
WTW names Sudhir Modhvadia as Head of Structured Risk in GB
30th June 2022
Re/insurance broker WTW, has appointed Sudhir Modhvadia as Head of Structured Risk, GB, where he will report to Alex Shepherd, Head of Facultative, WTW. Within this role, he will also be based in London. As Head of Structured Risk, Modhvadia will be responsible for all multiple risk transactions within Facultative as the ... Read the full article
WTW names head of financial solutions for APAC
28th June 2022
WTW has expanded the role of Lee Garvey, who will take on the role of regional head of financial solutions for Asia Pacific at the beginning of July. The firm said that Garvey, who currently leads the Australasia Financial Solutions business, will oversee the development of credit and non-payment insurance solutions, ... Read the full article
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