WTW

Marsh sues WTW and 10 ex-staff following raid on Toronto and Ottawa offices

Marsh Canada has begun legal proceedings against WTW’s Willis Canada Inc and 10 former staff after they resigned last month to join its rival, amid accusations its competitor “has a plan to unlawfully compete and disrupt its business”.

Ferma calls for reduced EU cyber reporting burden as WTW underlines insurance implications

The Federation of European Risk Management Associations has called on EU institutions to simplify cyber reporting requirements and to consider the insurance implications of cyber-related legislation.

WTW hires Aon’s Dolina to head up Philippines unit

WTW has appointed Gerald Dolina as head of Philippines, with Dolina also set to lead the group’s Corporate Risk & Broking unit in the country.

WTW to take $1.6bn-$2.1bn charge after selling Tranzact for half its purchase price

WTW has announced a deal to sell its Tranzact direct-to-consumer insurance distribution business to private equity firm GTCR and technology services investment platform Recognize for $632.4mn, just under half the $1.3bn in cash it paid back in 2019.

Early airline renewal placements see all-risk rates drop 10-15%

Certain airline all-risk rates have priced down by as much as 15 percent in initial placements as excess capacity continues to dominate the renewals landscape.

WTW bolsters Canada CRB team with 10 Marsh hires in Ottawa, Toronto

WTW has raided rival Marsh for 10 Canada-based hires in Ottawa and Toronto, including Lisa Irvan, Andrea Ryan Williamson and Grant Williamson, The Insurer can reveal.

Dive In panel calls on firms to better understand intersectionality

Firms should look beyond the face value of diversity data to consider the intersectional experience of colleagues in order to offer more tailored support systems and employee programmes, according to Dive In panellists this week.

WTW bolsters Neuron operations leadership with Kaur

WTW has appointed Parveen Kaur as global leader of operations, strategy execution and data for its commercial digital trading solution, Neuron.

Comment: WTW provides another data point showing US rate increase deceleration

A near-universal consensus is emerging that US P&C rate increases are moderating, as commercial property slows from last year’s hard conditions.

CFC and WTW complete debt financing transaction for UK carbon removal developer

WTW and CFC have completed a global transaction in partnership with Standard Chartered, British Airways and CUR8 to provide debt financing for UNDO, a UK-founded carbon removal project developer.

WTW bolsters cyber with Thoms and Ruiz promotions

WTW has appointed Adrian Ruiz as head of finex GB cyber and technology, media and telecommunications, with former head Glyn Thoms set to become global cyber strategic development leader.

WTW CLIPS: Commercial property drives Q2 deceleration in US rate increases to 5.9%

US commercial insurance rates increased 5.9 percent throughout the second quarter of 2024, a sequential slowing from 6.3 percent in Q1 2024 driven by a reduction in commercial property, according to WTW’s commercial lines insurance pricing survey.

Willis Re reboots in Bain Capital JV that shields WTW earnings from attritional build-out costs

WTW looks set to end its three-year hiatus from reinsurance broking as it partners with private equity firm Bain Capital to launch a new venture, returning to a space it exited with the $3.25bn+ sale of Willis Re to Gallagher, The Insurer revealed on the eve of Monte Carlo.

WTW close to reinsurance return with PE backing

WTW has been linked with a partnership with private equity firm Bain Capital to launch a new reinsurance venture which would fulfil the global intermediary’s stated ambition to get back into a space it left with its $3.25bn+ sale of Willis Re to Gallagher, The Insurer can reveal.

WTW launches Canopius-led property facility managed by Verita

WTW has introduced its client edge facility, a new property facility developed in collaboration with Canopius and MGU Verita Capital Solutions.

WTW confirms launch of Grimme-led German aviation business

WTW has confirmed the launch of its Christian Grimme-led aviation business in Germany.

WTW names Hamilton international property director

WTW has appointed Gavin Hamilton as a director within its international property team.

WTW hires Besso Grimme duo for new German aviation unit

WTW has swooped for two further aviation specialists from Ardonagh Specialty-owned Besso Grimme with the hires of executive directors Jan Schulze and Ralf Blechschmidt, The Insurer can reveal.

WTW to launch German global aviation and space unit with Besso’s Grimme

WTW has hired Christian Grimme from Ardonagh Specialty’s Besso Grimme Insurance Brokers to launch a global aviation and space retail operation in Germany, The Insurer can reveal.

Narrow election polling adds to simmering US election PV fears

A slim victory for either party in November’s US election will likely motivate demonstrations from the opposing side, with fears that any protests could continue the volatility seen in recent years, said WTW.

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