WTW
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The executive said expansion was driven by retention and new business.
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CEO Carl Hess hailed a “solid” first quarter of results.
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High cash-burn, the dearth of available leaders, and weaker market conditions all point to shelving.
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The US regulator faces litigation from both sides of the climate issue.
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Dussuyer has also been appointed head of corporate risk and broking France.
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WTW predicted that ‘meaningful softening’ could creep into energy markets during the year.
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Increased reinsurance retentions left some insurers with their worst net results in a decade.
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In his new role, Harrison will report directly to Adam Garrard, global head of risk & broking.
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Graham Knight will become chairman of natural resources.
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There were 166 deals over $100mn and 34 deals over $1bn in the first quarter of the year.
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WTW said the rise of the risk from health and safety was “surprising”.
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The executive said that adequate rates were encouraging insurers to grow.
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Welcome to the first episode of Behind the Headlines, a fortnightly podcast hosted by Insurance Insider's senior reporter Sam Casey.
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WTW and Tysers collaborated with PPL to design and implement the pilot.
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The facility offers a range of $25mn-$50mn in excess capacity.
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The facility is backed by a host of Lloyd’s syndicates.
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The CEO said winning back clients “validated” the broker’s approach.
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Risk and broking was driven by new business, client retention and rates.
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The executive will work to grow the broker’s affinity proposition in the UK.
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Storm Ciarán incurred insured losses of EUR1.9bn, according to WTW’s natural catastrophe report for July to December.
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Michael Creighton joined WTW in 2019 as an executive director within the financial solutions team.
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In October 2023, it was announced that Powell was leaving Marsh to join WTW as the broker’s global chief claims officer.
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Nearly 80% of transportation companies surveyed cited a lack of access to insurance solutions and a lack of data to understand supply-chain risks.
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The broker said there was a “record level of dry powder” waiting to be deployed.
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He replaces Mark Stephenson, who is leaving Liberty to join Ardonagh.
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AIG leads the placement, WTW is the lead broker, with Marsh support, on the JAL account.
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The broker is hiring in energy following the departure of several downstream brokers for Price Forbes.
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The brokers will work in the contingency team headed up by Ian Tomlin.
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The broker said reinsurance capacity has contracted over the past 18 months, and the once-diamond-hard aviation war market has started to soften.
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WTW also said private equity will continue to dominate the M&A landscape in 2024, with firms sitting on “over $2tn in dry powder” which is ready to deploy.
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The broker said it anticipated new entrants in the downstream class following a profitable 2023.
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The senior broker said it will take time for clients to return to the market.
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The executive joined family-owned Lockton in 2020, as director of energy within the South Florida-based Latin America and Caribbean team.
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SEC filings show that, in Q3, the activist shareholder liquidated its remaining 508,880 shares in WTW — worth around $120mn at the end of Q2.
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