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A standout performance from Willis' capital markets and advisory division helped the big three broker outpace rivals Aon and Marsh & McLennan Companies (MMC) in reinsurance broking organic growth during the third quarter.
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Publicly declared loss estimates from August's explosions at the port of Tianjin are inching towards the $1bn mark.
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Global capacity for power and utilities lines remains buoyant at $4bn, with falling rates, new entrants and low catastrophe losses contributing to the soft market conditions, according to Marsh.
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US cyber insurance business has seen double-digit rate increases at the latest renewal, as the market responds to recent large losses and a surge in demand for cover, according to new figures from Marsh.
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US primary casualty rates are falling for most buyers for the first time in the current soft market, according to broker Willis.
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Lower combined ratios, improving operating returns and falling catastrophe losses characterised Q3 earnings for the trio of major US insurers that reported last week.
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US commercial P&C bellwethers Travelers, Ace and Chubb all reported the impact of an increasingly competitive domestic landscape when they opened the third quarter results season last week.
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A successful bid for London market back office outsourcer and software firm Xchanging would boost its far larger rival Capita with sought-after earnings growth and a claim to the London market. But with Apollo still in the game, could the outsourcer be tempted to raise its offer?
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A number of global specialty (re)insurers have made routine announcements about their losses from the explosions in Tianjin in August, confirming that the event will take a meaningful bite out of third quarter earnings.
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The third quarter is predicted to bring lower earnings for P&C carriers, driven by deteriorating underwriting margins and the slowing of reserve releases.
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Executives at Towers Watson and Willis have been portrayed as the bad guys in a series of activist shareholder complaints from Towers Watson investors that argue for the proposed $18bn merger to be terminated.
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At this time of year all non-reinsurance staff in our industry collectively wonder how on earth the treaty crowd manage to get away with pretending that a late summer visit to the Côte d’Azur is somehow work.
