Willis Towers Watson

Willis Re takes GC’s Jones to head Atlanta office

Willis Re has hired back Graham Jones from Guy Carpenter to take the position of branch manager of its Atlanta office, The Insurer can reveal.

WTW offloads financial advisory arm to Nordic Capital

Willis Towers Watson is selling its Swedish financial advisor, Max Matthiessen, to private equity firm Nordic Capital for an undisclosed sum.

Willis to launch group captive for middle market clients with The Hartford

Willis Towers Watson has established a group captive for its upper middle market clients with paper from The Hartford to provide coverage for primary casualty risk, The Insurer can reveal.

Willis hit with three shareholder lawsuits over Aon deal

Three lawsuits have been filed against Willis Towers Watson (WTW), two of them as class actions, accusing the broker of materially incomplete and misleading filings related to its proposed acquisition by Aon.

CAC Specialty hires Willis’ global P&C head Joost

CAC Specialty’s expansion has continued with the arrival of Eric Joost from Willis Towers Watson (WTW), The Insurer can reveal.

Aon-WTW creates integration committee

Aon and Willis Towers Watson have formed an integration planning steering committee – made up of senior leaders from both firms – to “provide direction on key integration planning decisions”, according to internal documents seen by this publication.

Covid-19’s impact on marine market far from certain as price hardening continues

Covid-19 has cast a web over many facets of the marine insurance market with protection and indemnity (P&I) carriers potentially on the hook for cruise company claims while the stock through-put sector possibly facing claims as cargo is held in storage for longer.

Only $4bn of expected $30bn-$100bn Covid-19 insured losses booked: Willis Re

Just $4.2bn of an emerging, albeit wide-consensus range of $30bn to $100bn of (re)insurance industry losses relating to the Covid-19 outbreak have been booked, according to Willis Re.

Aon and WTW on hook for $300.4mn in fees if deal breaks down

Both Aon and Willis Towers Watson (WTW) face a maximum payment of $300.4mn to reimburse the other’s expenses if the deal to combine the two intermediaries falls through.

Aon-WTW: A marriage made in Miami

Less than two months after MMC’s audacious £4.3bn swoop for JLT, Aon Group CEO Greg Case presented the merits of a deal with rival WTW in a November 2018 Aon London Board meeting, an SEC proxy filing shows.

Case & Haley confident Aon-WTW will complete on time despite Covid-19 pressure

The global Covid-19 pandemic and the subsequent economic shockwaves being felt by the (re)insurance industry and clients alike, is only serving to reinforce the logic of combining Aon and Willis Towers Watson (WTW) to create the industry’s preeminent global professional services firm, the CEOs of both firms have told The Insurer.

Cyber rates up 10-15% as capacity starts to tighten

Willis Towers Watson has revealed that primary and excess cyber renewals are now averaging premium increases in the mid- to upper-single digits, as losses continue to mount.

WTW cites Covid-19 as Q1 insurtech funding shrinks

Insurtech funding was down 54 percent in the first quarter, reflecting the trend for fewer ‘mega-deals’ – transactions in excess of $100mn+ – as well as the impact on investor appetite from the Covid-19 pandemic, according to Willis Towers Watson.

Willis: Covid-19 insured losses could hit $140bn in extreme scenario

Insured losses stemming from the Covid-19 pandemic could be as high as $140bn, according to modelled scenario analysis by Willis Towers Watson.

WTW discretionary spending cuts “probably sufficient” instead of salary reductions

Willis Towers Watson CEO John Haley has commented that cutting discretionary spending “to the bone” means the broker is unlikely to have to reduce staff salaries like its proposed acquirer Aon has in response to Covid-19 pressures.

WTW posts 4% Q1 organic revenue; withdraws 2020 guidance over Covid-19

Willis Towers Watson has reported overall organic revenue growth of 4 percent in the first quarter, as the soon-to-be Aon-owned risk and consulting firm withdrew its full-year 2020 guidance over “uncertainties” caused by the Covid-19 pandemic.

Global reinsurance capital up 15% to $605bn as ILS dips: Willis Re

Total capital dedicated to the global reinsurance industry grew by 15 percent to $605bn as at year-end 2019, however alternative capital in the sector slipped slightly, declining 3 percent on the back of catastrophe activity.

Willis Re’s Newman: Covid-19 driving mid-year panel turnover as market “schisms”

The pandemic crisis will have a significant impact on mid-year renewals as the changing appetites of reinsurers leads to a much higher turnover of panel participations than normal, Willis Re president and casualty expert Andrew Newman has told The Insurer.

Covid-19 claims manageable in all but worst-case scenario: Willis Re

A new Willis Re report suggests the systemic shock of Covid-19 has been manageable for reinsurers so far, but a capital squeeze is likely from continued asset-side volatility and increased claims emergence.

Reinsurers using Covid-19 exclusions as “blunt instrument”: Willis Re

Willis Re has commented that the impact from Covid-19 “has far-reaching consequences for reinsurance structuring considerations and placement”, particularly in for the remainder of this year.

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