Arthur J. Gallagher & Co. on Wednesday announced that it has completed the acquisition of substantially all of the treaty reinsurance brokerage operations from Willis Towers Watson plc. Together with Gallagher’s existing reinsurance operations, the combined businesses will trade as Gallagher Re from more than 70 offices across 31 countries and incorporate c2400 colleagues. This… Continue reading AJG Completes Acquisition of Willis Towers Watson Reinsurance Brokerage Operations
Tag: Willis Re
Reinsurance Premium Growth Is Strong for 2021: Willis Re
Despite higher catastrophe losses in the third quarter, a group of re/insurers tracked by Willis Re reported improved combined ratios through the first nine months of the year, and half of the cohort achieved double-digit premium growth. Willis Re’s recent report, which examines the 9M 2021 performance of the world’s largest re/insurers with meaningful commercial… Continue reading Reinsurance Premium Growth Is Strong for 2021: Willis Re
Global Reinsurance Capital, Profits, and ROE on the Rise in H1: Willis Re
Global reinsurers performed well in the first half of 2021, with a further expansion of their capital bases and strong headline underwriting results and ROEs. Underlying ROEs, while less strong, were nonetheless noticeably improved, according to the latest Reinsurance Market Report from Willis Re, the reinsurance business of leading global advisory, broking and solutions company… Continue reading Global Reinsurance Capital, Profits, and ROE on the Rise in H1: Willis Re
Willis Towers Watson to Sell Willis Re to Gallagher for Initial $3.25B Consideration
Willis Towers Watson, a leading global advisory, broking and solutions company, today announced an agreement with Arthur J. Gallagher & Co (Gallagher) to purchase Willis Re. Completion of the deal is subject to the receipt of required regulatory approvals and clearances, as well as other customary closing conditions and consultation where required. The business will… Continue reading Willis Towers Watson to Sell Willis Re to Gallagher for Initial $3.25B Consideration
Willis Towers Watson Mulls Sale of Reinsurance Unit After Halting Merger
Insurance broker Willis Towers Watson PLC said on Tuesday it is weighing strategic alternatives for its reinsurance unit, Willis Re, days after a planned sale to rival Arthur J. Gallagher fell through. Willis and broker Aon PLC had planned to merge to create the world’s largest insurance broker, topping current leader Marsh & McLennan Companies… Continue reading Willis Towers Watson Mulls Sale of Reinsurance Unit After Halting Merger
More of the Same for April 1 Reinsurance Renewals
International reinsurance renewals completed for April 1, 2021 followed trends set earlier in the season, as market pricing remained firm in virtually all classes and territories. Capacity was adequate across the board, and no substantive changes took place in negotiations over exclusionary language, according to the latest 1st View renewals report from Willis Re, the… Continue reading More of the Same for April 1 Reinsurance Renewals
Improved Pricing Sees $6B Raised by Reinsurers Across Q4: Willis Re
A new report from Willis Re, the reinsurance arm of global brokerage Willis Towers Watson, estimates that reinsurers globally have raised $6 billion across the fourth quarter of 2020. This figure would bring the year-to-date total to $19 billion, with a further $3b being contemplated and/or in progress. Willis Re attributes these capital raises to… Continue reading Improved Pricing Sees $6B Raised by Reinsurers Across Q4: Willis Re
1:1 Renewal Season to See a Tightening Marketplace: Willis Re
Willis Re recently held a webinar in which Paddy Jago, Global Chair of Willis Re and Tony Melia, Chief Executive Officer of Willis Re International discussed the upcoming January renewal season and how things in the reinsurance market may develop. Jago commented: “We will experience further gradual firming from where we were at January last… Continue reading 1:1 Renewal Season to See a Tightening Marketplace: Willis Re
Willis Re Measures Modest 3% Decline in Global Reinsurance Capital in the First Half of 2020
Total capital dedicated to the global reinsurance industry was USD 587 billion at 30 June 2020, reflecting a 3% decline since year-end 2019, according to the latest Reinsurance Market Report from Willis Re, the reinsurance business of leading global advisory, broking and solutions company Willis Towers Watson. The half-year figure masks an approximate fall of… Continue reading Willis Re Measures Modest 3% Decline in Global Reinsurance Capital in the First Half of 2020
Industry Consensus on COVID-19 Loss Range is $30-100B: Willis Re
The early consensus among analysts is that COVID-19 industry losses will be somewhere in the range of $30 billion to $100 billion, according to Willis Re, the reinsurance broking arm of Willis Towers Watson (WTW). This rough consensus is broadly consistent with estimates released by WTW earlier this month, which put losses for a ‘moderate’… Continue reading Industry Consensus on COVID-19 Loss Range is $30-100B: Willis Re