WTW

Car insurance premiums reach highest on record with 58% annual increase: WTW

WTW names Marsh’s Powell as global chief claims officer

WTW has appointed Marsh’s Rob Powell as global chief claims officer, with the claims veteran set to join the broker in early 2024.

Lockton sues WTW over hires of two Dallas-based producers

Lockton has sued WTW and two Dallas-based executives that resigned last week, Frank Scardino and Kenneth Gould, in a lawsuit filed just two days after Lockton sued three of its producers that joined Alliant.

WTW’s Chang: “We want to be the best industry-specialist broker in North America”

WTW’s Michael Chang has touted the progress the firm has made in the past year since the former Sompo International and Chubb executive came aboard, while also declaring his unit’s ambition to be the “best industry-specialist broker in North America”.

PPL to begin API pilot scheme with WTW and Tysers

Placing Platform Limited will pilot its new generation of market APIs in the fourth quarter of 2023, working initially with WTW and Tysers.

WTW revamps climate practice to align with risk and analytics function

WTW is set to restructure its Climate and Resilience Hub around the two pillars of disaster risk financing and risk quantification, which will now feed into the alternative risk transfer and risk analytics teams respectively, ESG Insurer can reveal.

WTW’s Chang: Verita aiming to be a “holistic solution” for clients

WTW’s Michael Chang has said the firm’s new MGU platform Verita will be entirely driven by underwriting discipline, adding that there has never been a better time to get into the market as buyers are demanding more options amid prolonged hard market conditions.

WTW: Q3 buyers underperform in busiest M&A quarter so far

Global M&A activity increased by 16 percent in the third quarter – the busiest of the year so far with 151 deals – but buyers underperformed the wider market, according to WTW.

WTW adds Lockton’s Scardino and Gould to CRB team in Dallas

WTW has made two hires from Lockton, appointing Frank Scardino as North America strategic sales leader and leader of the Dallas market, and Kenneth Gould as strategic client engagement leader within Corporate Risk and Broking, North America.

WTW secures partial victory in Spanish poaching suit against former Iberia execs and Deasterra Partners

A Spanish court of appeal has handed WTW partial victory in a long-running lawsuit against three former directors of its Iberia business and the start-up broking platform they founded in 2020 with backing from rival Marsh McLennan.

WTW launches new Chiang-led MGU Verita focused on industry specialisation

WTW is launching Verita, a new MGU led by former Sompo International executive Edward Chiang with capacity backing from Markel which is aiming to provide specialised insurance solutions, The Insurer can reveal.

WTW hires Marsh’s Beldy Torborg for dual CRB North America role

WTW has appointed Karen Beldy Torborg as both head of strategic growth and portfolio management and head of large accounts segment within corporate risk and broking, North America.

WTW: IFRS 17 implementation estimated to cost industry $21-27bn

The implementation of IFRS 17 is estimated to cost the global insurance industry $21-27bn, according to WTW.

WTW increases share buyback program by $1bn

The board of WTW has approved a $1bn increase to the existing share repurchase authority, with the broker viewing buybacks as an attractive opportunity currently.

WTW CLIPS: US commercial price increases accelerated to 6.1% in Q2

US commercial lines insurance pricing increased 6.1 percent in Q2, according to WTW’s Commercial Lines Insurance Pricing Survey, a sequential acceleration from the 5.6 percent increase in this year’s first quarter, although workers’ compensation, D&O and cyber all saw decreases.

Hess: No firm decision on Willis Re II – but more likely than not

WTW CEO Carl Hess has arrived at the Monte Carlo Rendez-Vous saying that while no firm decision has been made on re-entering reinsurance treaty next year, it is more “likely than not” that the industry’s third-largest global broker may do so at some point in 2024.

CEO Hess: Organic growth highlights WTW’s potential as it eyes MGA expansion

Carl Hess said on Thursday that WTW is looking to scale its MGA operations, touting the “momentum” established and the progress the firm has made since its aborted transaction with Aon in July 2021, demonstrated by its organic growth performance.

Alliant hires former WTW CRB SE regional head Pera as EVP

Alliant has hired WTW’s former southeast region head of corporate risk and broking Doug Pera as EVP and director, in a role that Alliant said would help drive the brokerage’s growth strategy.

WTW financial solutions head of broking Coffin retires

WTW’s financial solutions head of broking and credit and political risk insurance veteran Emma Coffin has retired.

Why so many data science projects fail to deliver

WTW’s Tim Rourke on why data science teams have traditionally underperformed in the insurance sector.

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