Reinsurance News


WTW sees clear flight to quality amid hardening reinsurance market

9th December 2022

Analysts at WTW have observed a “significant flight to quality” in the reinsurance market as insurers use the hardening market to ‘housekeep’ their existing portfolios prior to focusing on new business. The broker's Insurance Marketplace Realities 2023 report predicts further rate firming for the property reinsurance market, with more withdrawals of ... Read the full article

WTW names EMEA Head of Commercial Lines transformation

9th December 2022

Re/insurance broker WTW has announced the appointment of Derric Howard to the role of EMEA Head of Commercial Lines Transformation, within its Insurance Consulting and Technology (ICT) business. He will be based in London and work with European insurance firms, brokers and other market players to modernise and digitise the underwriting ... Read the full article

WTW adds Sallada from Marsh as Head of Casualty for NA

9th December 2022

Global advisory, broking, and solutions company WTW has announced the appointment of James Sallada as Head of Casualty within Corporate Risk and Broking (CRB), North America. He joins from Marsh where he has worked for the previous 20 years, most recently as Managing Director and Northeast Risk Management Placement Leader for ... Read the full article

Price increases to continue but at reduced rate: WTW

8th December 2022

A new report from WTW says that recent trends suggest rate increases will continue, albeit at a ‘materially reduced’ rate. The report, called the Spring 2023 Insurance Marketplace Realities Report says that commercial insurance rates are beginning to stabilise, steered by cyber and D&O. Reduced rates, WTW said, are becoming increasingly available ... Read the full article

WTW adds Claims Advocate Sam Berry to Direct & Fac team

8th December 2022

Global advisory and broking solutions company WTW has announced the addition of Sam Berry to its Direct and Facultative team in London. Berry has been hired as new Claims Advocate. She brings two decades of experience handling North American property and casualty claims and joins WTW from BMS, where she served ... Read the full article

“Grip of the hard market is loosening”: WTW’s Jon Drummond

7th December 2022

Jon Drummond, Head of Broking, North America at insurance broker WTW, has claimed that the “grip of the hard market is loosening” despite some upward pressures across lines. Writing in the latest Marketplace Realities report from WTW, Drummond noted that the second half of 2022 has “ushered in a new environment ... Read the full article

WTW study finds developing ESG strategy a key focus for risk managers

7th December 2022

A recent WTW survey reported that more than half of risk managers are significantly involved in their organisation’s ESG efforts, though 77% believe they should take a more active role in ESG strategy and initiatives. In WTW's 2022 ESG Global Risk Managers Survey, which includes 312 corporate risk managers worldwide, one-third ... Read the full article

Insurers need to ensure they develop and use AI ethically: WTW’s Chapman

6th December 2022

Artificial Intelligence (AI) and machine learning is a growing topic within both the insurance and reinsurance industry, with more companies using the technology to manage manual, low complexity workflows and dramatically increase operational efficiency. The technology also allows the ability to predict with greater accuracy losses and the behaviour of customers, ... Read the full article

WTW names William Miller Head of Crisis Management for APAC

6th December 2022

Broking and solutions company WTW has announced the appointment of William Miller as the Head of Crisis Management, Asia Pacific, effective from the 1st of January 2023. In the new role, Miller will be based in Singapore and will oversee the new crisis management business in APAC, delivering its services and ... Read the full article

Insurers should adjust for current high-inflation environment: WTW

5th December 2022

A new note from WTW suggests that insurers should look at their reserving, investment, and pricing strategies, alongside their approach to portfolio management, in order to best place themselves in the current high-inflation environment. The article, ‘What does inflation mean for the insurance market?’, published on the WTW site, says that ... Read the full article

WTW launches new geopolitical risk research programme

30th November 2022

WTW, the global advisory, broking, and solutions company, has announced the launch of a new geopolitical risk research programme to bring together world experts and build resilience against escalating threats. According to the announcement, this three-year programme will apply war-gaming and scenario planning to test the vulnerability of organisations to changing ... Read the full article

WTW, Citi, & FCIA launch trade credit insured AR facility

22nd November 2022

WTW and Citi have successfully placed an innovative insurance facility with Great American Insurance Company's FCIA Trade Credit & Political Risk division, delivering a portfolio based, long tenor Accounts Receivable (A/R) financing solution by combining the benefits of two existing insurance products. In a joint release, the trio suggested that despite ... Read the full article

WTW and The Nature Conservancy partner on US coral reef policy

21st November 2022

WTW has partnered up with The Nature Conservancy (TNC) to launch the United States’ first ever coral reef insurance policy. The insurance policy will provide money for rapid coral reef repair and restoration across Hawai‘i immediately following hurricane or tropical storm damage. In 2019, TNC and partners implemented the world’s first reef ... Read the full article

Risks to food supply chains growing alongside complexity and size: Lloyd’s & WTW

21st November 2022

A new report from Lloyd’s and WTW says that the risks associated with food chains around the world have increased as these chains have grown in size, volume, and complexity. The firm said that food and drink supply chains will play an essential part in facilitating global progress and building societal ... Read the full article

WTW to support Indonesian government with climate transition

18th November 2022

Broking and solutions company, WTW has announced the launch of a new sovereign risk management programme developed to help Indonesia plan and implement an orderly long-term low carbon transition. The announcement was made during the G20 Leaders’ Summit in Bali. As the world’s largest thermal coal exporter, Indonesia is highly exposed to ... Read the full article