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.
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The latest hires follow Rob Hale’s move to Willis.
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The broker made several senior energy hires from Marsh last year.
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Renewable energy premium written in London and international markets amounts to $2bn.
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Willis has been adding brokers to its aviation unit in Europe and the US.
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Willis’ continued reinsurance build-out has targeted London and Bermuda marine and retro specialists.
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The Atrium-led cover renews after the multi-billion-dollar High Court ruling.
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Air India has a multi-year insurance arrangement in place.
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Sources told this publication the hull of the aircraft is valued at $80mn.
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Brokers across London and Bermuda have handed in their notice to join the start-up reinsurance broker.
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The Bermuda-based team is led by John Fletcher.
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The broker is launching a reinsurance arm in partnership with Bain Capital.
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Saul Nagus is the latest from Marsh’s aviation unit to join WTW.
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Willis has made a series of aviation hires on both sides of the Atlantic in recent weeks.
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Plus the latest people moves and all the top news of the week.
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The Willis-brokered coverage also includes the Willis CyXS facility.
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Plus, the latest people moves and all the top news of the week.
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The carrier beat QBE to the punch to secure the lead position.
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The pair add to the roster of aviation-focussed hires at WTW.
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The hires form part of WTW’s build-out of its US aviation practice.
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Lucy Clarke said the broking business was resilient in the face of macro challenges.
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Organic growth was flat on the prior year and in line with Q4 2024 figures.
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A positive outcome could significantly curb insurers’ exposure to the loss.
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Softening in the upstream market has also accelerated beyond expectations.
