WTW
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WTW has hired Michelle Cui from Zurich North America as director of actuarial property and casualty in its insurance consulting and technology business. -
The brokers are working on finalizing the terms in a written settlement agreement, which could be filed within two weeks.
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In his new role, Ryan will report to WTW North American leader for CRB Mike Liss.
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The broker said the fallout from the Russia-Ukraine conflict was increasing competition for business.
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The new deadlines set last week after a hearing suggest that recent settlement negotiations between the brokers to end the case via private mediation did not come to fruition.
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The managing director is the latest in a series of hires at WTW’s natural resources division.
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The parties did not disclose whether any money changed hands to end the legal proceedings.
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In the lawsuit, filed last week in a New York court, WTW is seeking injunctive relief and compensatory damages over a year after Lockton lured the executives.
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The discovery process will run through August and September, and the court will hold a hearing on Aon’s motion for a preliminary injunction on October 12.
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The CEO said that WTW was making good progress under its strategy but acknowledged there is more to do.
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Growth was slower than rival brokers, but CEO Carl Hess said investments would bear fruit in H2.
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WTW sued the rival broker over the poaching of 25 members of its senior living group in September 2021.
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