WTW
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The acquisition is still subject to regulatory approval but expected to be completed in the fourth quarter. -
Reinsurers retained more net income this year, driven by a desire to grow into the hardening market.
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The CEO said large US retailers and wholesalers may look to enter reinsurance.
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It is not yet clear if the fund – known for its activist campaigns – will look to take on management in this case.
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The Willis solution is designed to help companies access insurance as they transition to a low-carbon business model.
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The broker also announces that Nicolas Aubert is set to leave the company to “pursue new interests”.
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Outgoing CFO Michael Burwell is to receive a $1mn bonus.
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Andrew Krasner returns to Willis from AssuredPartners, where he served as CEO for just over six months.
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The executive was instrumental in overseeing the major turnaround work at Channel, which reported its first profit in a decade in 2020.
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The brokers have signed a heads of terms and will move towards a full acquisition.
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The London-based managing director is the latest in a stream of departures from the broker’s facultative division.
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Proactive price action is enough to keep pace with inflation – for now.
