Global advisory, broking and solutions company Willis Towers Watson has announced that it plans to integrate its capital markets offering into Willis Re, the reinsurance arm of the firm.
The Insurance-Linked Securities (ILS) operation was previously part of the Willis Towers Watson Securities business unit.
William Dubinsky will continue to lead the ILS team once it is integrated into Willis Re, and will report to Mark Hvidsten, Deputy Chairman of Willis Re.
James Kent, Global Chief Executive Officer (CEO) of Willis Re, said: “The movement of the ILS business into Willis Re reflects ongoing efforts to evolve our company and better align our portfolios in order to continue to effectively serve our clients.
“Willis Re’s standing in the ILS market will continue to strengthen as we bring these businesses together in a more effective way.”
Rafal Walkiewicz, CEO of Willis Towers Watson Securities, also commented: “The insurance industry is changing faster than ever and capital markets are becoming an integral part of the industry risk transfer mechanism.
“Our clients no longer decide between traditional reinsurance and third party capital, but expect an integrated solution that serves their long term needs. Capital markets professionals working hand in hand with reinsurance brokers are best positioned to offer strategic advice and continue to develop cutting edge products for our clients.”
