WTW
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Despite 2025 losses, carriers have not secured desired rate increases. -
Plus, the latest people moves and all the top news of the week.
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Guy Carpenter continues to pursue Willis Re and individuals in court.
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Senior Willis Re recruit Jim Summers denied Kevin Fisher had a role at the start-up.
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The sector also faces a potential $700mn loss from a fatal Indonesian mining catastrophe.
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GC accused Willis, Lucy Clarke, Jim Summers and John Fletcher of unlawful recruitment.
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Loss activity in the upstream market remains benign, adding to softening.
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The executive said the market will be revolutionised by digital technology.
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James Kelly joins from Besso, having held senior positions at JLT, Lockton and Gallagher.
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Ed Louth will join Liberty next year after serving out his contractual duties at Willis.
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The broker’s hiring to date has focused on the specialty segment.
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Plus, the latest people moves and all the top news of the week.
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The broker is monitoring whether the economic environment will limit discretionary spending.
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The broker said it was on track to hit its financial goals despite macro uncertainty.
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The move comes as Michael Creighton is made credit and political-risk director for Africa.
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Willis Re kicked off its talent acquisition with mass hiring from Guy Carpenter over the summer.
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The broker said WTW hasn’t shown it was irreparably harmed by the defection.
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Willis claims at least two $1mn accounts were also unfairly lost to Howden.
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Property underwriters are ‘competing fiercely’ to access mining risks.
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Chris Eaton and Bill Moret gave their notice last week without specifying their destination.
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Ex-Western Europe CRB head Alberto Gallego and colleagues left for a Marsh joint venture.
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Plus, the latest people moves and all the top news of the week.
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Former head of construction Bill Creedon will assume the role of chairman.
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The broker’s joint venture with Bain Capital still lacks a CEO.
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The pair were offered contracts by Willis Re in July.
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The broker announced the launch of its cross-class facility this week.
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Placement head Delchar said Gemini will be available across its global book of in-scope risks.
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The broker has been on an aggressive hiring spree overseen by Lucy Clarke.
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The airline has exercised a break clause to renew its cover six months earlier.
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However, group organic growth among public brokers has slowed to pre-pandemic levels.
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AIG leads the all-risks cover and Axa XL is the hull war lead.
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Verita leadership and staff will remain intact and “seamlessly functional”.
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WTW is “particularly interested” in growing markets like wealth management with bolt-on M&A.
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The claim could add pressure to the hull war market after a recent High Court ruling.
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The broker has recruited from its rival as it looks to launch Willis Re 2.0.
