WTW News

WTW Upgrades Hawaiian Coral Reef Parametric Insurance Policy

WTW and The Nature Conservancy (TNC) announced the purchase of a new coral reef insurance policy that expands coverage around the main Hawaiian Islands and increases payouts after qualifying storms. This replaces the first U.S. coral reef insurance policy purchased …

Markets/Coverages: WTW Launches Primary Cyber, Tech E&O Facility for Int’l Clients

Insurance broker WTW has launched a cyber solution aimed at international clients headquartered outside of Great Britain and the United States with revenues up to US$1 billion (or the equivalent currency). The International CyCore Facility (ICF) is a tailored solution …

Another Banner Year Seen by 5 Publicly Traded Insurance Brokers in 2023

Five of the largest publicly traded insurance brokers — Marsh & McLennan Cos., Aon, Arthur J. Gallagher, WTW and Brown & Brown – reported generally strong revenues in 2023, with annual increases ranging from 7% (Aon) to 18% (Arthur J. …

People Moves: Zimmer to Take Alliant CEO Reins From Corbett; WTW Names Forms Client Growth Team; Xceedance Hires Flynn for Personal Lines

Alliant Insurance Services named Greg Zimmer chief executive officer, taking over for Tom Corbett, who has served as CEO for more than 30 years. The new leadership roles will take effect April 1, 2024. Zimmer joined Alliant in 1998 as …

Insurer AIG Leads Policy for Japan Airlines Plane Involved in Runway Collision: Sources

U.S. insurer AIG was the lead insurer on a $130 million “all-risks” policy for the Japan Airlines airplane which collided with another plane at Tokyo’s Haneda airport, two insurance industry sources said on Wednesday. AIG declined to comment. All 379 …

What to Expect: ‘No Material or Sudden Changes’ in Commercial Insurance Pricing

Even though reinsurance executives are making noise about social inflation and liability rate inadequacy, WTW isn’t expecting any major changes in the pricing for commercial casualty or property insurance markets heading into 2024. “The property market will try to lean …

Markets/Coverages: WTW Launches Global D&O Excess Facility Called ‘A-Star’

Insurance broker WTW announced the launch of “A-Star,” an excess layer D&O insurance solution for directors and officers. The new facility provides access to up to £/$/€ 80,000,000 additional capacity for directors & officers liability insurance, ensuring comprehensive protection for …

People Moves: Marsh Names Kowell Marine, Cargo and Logistics Practice Leader, US and Canada; WTW Appoints Messinger Lead of FI&PS

Marsh, a business of Marsh McLennan, headquartered in New York, N.Y., named Janice Kowell marine, cargo and logistics practice leader, U.S. and Canada. Kowell will remain based in Portland, Ore. Kowell succeeds Michael Pellegrini, who has been named regional head …

WTW Launches Asia Pacific Climate Risk Centre in Singapore

WTW announced the launch of an Asia Pacific Climate Risk Centre (ACRC) in Singapore, which aim to provide climate risk quantification and management capabilities to support the region’s climate resilience and transition to net zero. The centre reinforces WTW’s commitment …

5 Brokers Report Strong Revenues During Q3 as Favorable Market Climate Continues

Five publicly traded insurance brokers reported strong third quarter revenues, with their executives using adjectives such as “outstanding,” “terrific,” “excellent,” and “strong” to describe their companies’ financial performances. In a wrap-up of the brokers’ results, listed in descending order by …