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Sources have said a deal could be signed as soon as the middle of the week, with a valuation higher than the last agreement.
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The executive said the carrier would continue with its underwriting approach and benefit from pricing tailwinds. -
Julian Samengo-Turner, who was global CEO of fac at Guy Carpenter in the 2000s, is leaving Willis after four years in the role.
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Willis Towers Watson will not pay staff bonuses that were contingent on the completion of the Aon merger.
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Reinsurers using Europe primarily as a diversifier to counter risk in peak cat zones are increasingly faced with significant loss events on the continent.
Opinion
28 July 2021
Many market participants have managed to curtail their admin expense ratio over the last five years, although correlation between GWP and cost-efficiency remains weak.
Analysis
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Willis Towers Watson must act quickly and decisively to either salvage the sale of Willis Re or lock down staff.
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Some observers questioned whether Hiscox would have benefitted from the bigger shake-up of an external hire.
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Underwriters warned of a need to sustain profits and the risk of losses as plants are reactivated.
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Huge disputes over aggregation of claims and ongoing coverage disputes point to uncertain overall exposures.
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