Willis Towers Watson
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Willis president Carl Hess said that hiring rates have dramatically increased in his firm's corporate risk and broking business.
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Inside P&C’S news team runs you quickly through the key developments from the last week.
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In an interview, the new Gallagher Re CEO noted that his former company had been weighed down by nearly two years of uncertainty, telling this publication: “That stops today.”
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The group CEO also observed that the Big Three reinsurance brokers do have a competitive moat based on their scale.
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The deal was struck in the wake of the collapse of Aon and Willis Towers Watson’s merger.
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Pizzi will take over the position that has remained open since Nancy Woode left Willis to join McGill and Partners last April.
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Willis is accusing its blue-chip rival of conspiring with its former employees to pilfer some of its reinsurance brokerage clients in Florida, causing “irreparable harm".
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Insurance carriers tend to favor a negative outlook during their earnings calls, even when its unwarranted.
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Increasing cat costs will drive the focus on modelling and price adequacy, the intermediary said.
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Willis Towers Watson has selected Inga Beale, Fumbi Chima, Michael Hammond and Michelle Swanback to join its board of directors.
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While Willis predicted market moderation as capacity expands, the report concluded that the cost of insurance in the near term is still going up.
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The executive has spent the majority of his 35-year career with Aon.
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