Willis Re News

Reinsurers ‘Smoothly’ Navigated April Renewals, Despite Working from Home: Willis Re

Reinsurers were able to complete the April renewals smoothly, despite being forced to move to the new working-from-home model after the COVID-19 outbreak, according to Willis Re. “The global reinsurance market has shown immediate resilience to operating under the challenge …

Willis Re Appoints Melanson as SVP, Health Practice Leader in Massachusetts

Willis Re, the reinsurance business of Willis Towers Watson, a global advisory, broking and solutions company, has appointed Dan Melanson as senior vice president and Health Practice leader. He is based in Boston, Mass. In this role, Melanson will serve …

Natural Catastrophe Losses in 2019 Down 18% from Annual Average: Willis Re Report

Insured losses from major natural catastrophes in 2019 totaled roughly $53.0 billion, about 18% lower than the annual average since 2011, according to a report from Willis Re. This figure compares with Aon’s recently released total of $71 billion for …

Willis Re Taps Buxton from Allianz as Managing Director, Int’l Customized Reinsurance

Willis Re, the reinsurance subsidiary of Willis Towers Watson, announced the appointment of Simon Buxton as managing director of its International Customised Reinsurance practice, which focuses on non-traditional reinsurance. Buxton will focus on providing structured solutions across all the company’s …

January 2020 Reinsurance Renewals Varied Significantly, Brokers Say

The January 2020 reinsurance renewals saw significant variation in pricing and capacity depending on geography, line of business, cedents’ loss record and client relationships, according to two reports published by brokers Guy Carpenter and Willis Re. Indeed, the market demonstrated …

Willis Re Specialty Taps Aspen’s Harrell as Managing Director & Chief Operating Officer

Reinsurance broker Willis Re announced the appointment, with immediate effect, of Donald Harrell as managing director & chief operating officer of Willis Re Specialty. Harrell joins with more than 25 years’ broking and underwriting experience in the specialty insurance sector. …

High Levels of Global Insurtech Investments Continued During Q2: WTW

Insurtech investment worldwide continued at high levels during the second quarter of 2019, marking the fourth consecutive quarter during which total new funding commitments exceeded $1.2 billion, according to the new Quarterly InsurTech Briefing from Willis Towers Watson. The report …

Reinsurers Offering Better Prices, Capacity for Preferred Trading Partners: Willis Re

Strengthening primary insurance market conditions underpinned improvements to reinsurance prices, terms and conditions at the June 1 and July 1, 2019 renewals, according to the latest 1st View renewals report from Willis Re, the reinsurance division of Willis Towers Watson. …

Total Reinsurance Capital Drops in 2018, but Alternative Capital Keeps Rising: Willis Re

While total dedicated reinsurance capital dropped in 2018, alternative capital continued its steady rise, according to a report published by Willis Re. Total dedicated reinsurance capital – which includes traditional and alternative capital – dropped 5 percent to US$462 billion …

Reinsurers Charge ‘Rational’ Rates in April Renewals, from Flat to 25%: Willis Re

While there were no signs of generalized rate hardening during the April 1, 2019 renewal season, reinsurers have adopted a “rational” rating approach, asking for price increases of up to 25 percent, mainly targeted towards loss-affected contracts and programs, according …