Willis Towers Watson
This week in Post: Aon, dó, trí
Business interruption, the British Insurance Awards shortlist and Q1 results kept us busy this week, but it was a move by biggest-broker-in-waiting Aon that grabbed the most attention.
Double-digit Covid-19 revenue decline ‘pretty extreme’ but possible: WTW CEO John Haley
Willis Towers Watson CEO John Haley said the group could see double-digit revenue decline as a result of the coronavirus impact, as the risk giant yesterday pulled its profit guidance for the year.
Marsh and WTW decline to follow Aon’s pay cuts lead for now
Aon’s announcement that it would reduce 70% of its employees’ salaries led to some speculation that soon-to-be acquired Willis Towers Watson and rival Marsh might swiftly follow, but both brokers have since confirmed they will not follow Aon’s lead.
Blog: Covid-19 lockdown - how will it impact motor insurers and the repair industry?
As countries pull the lockdown lever in response to Covid-19 Tom Helm, head of Claims Consulting at Willis Towers Watson, and David Shepherd regional managing director at Solera ask: what do early global repair industry statistics show, what might we…
ABI's Huw Evans talks Pandemic Re possibilities
Market discussions around Pandemic Re options are crucial and serve a "noble purpose", Huw Evans director general of the Association of British Insurers told Post, as he confirmed the trade body is in discussion with Lloyd's and anticipates an invitation…
Blog: Aon’s plan to slash pay, preserve dividend leaves a sour taste
Aon will cut the pay of 70% of its staff and slice executive pay packets as it seeks to preserve jobs during the coronavirus pandemic, but the broking giant’s decision to go ahead with a May dividend payment seems at odds with its message.
Analysis: Constructing Pandemic Re
The insurance industry stands ready to participate in the creation of a Pandemic Re vehicle but opinions differ on how it would work.
Aviva, RSA and Aon bosses among insurance leaders launching Pandemic Re steering group
Insurance heavyweights from across the market have come together to launch a steering group to improve the industry’s response to future pandemics.
Trade credit insurers in cover limits and pricing re-think
Trade credit insurers are looking at pricing and cover limits as the coronavirus crisis continues to unfold, Post understands, as they warn virtually no sector will be left unaffected by the pandemic.
This Month: Covid-19
On the first Friday in April it is hard to remember what the first Friday in March was truly like. To misquote: that past was a foreign country, we did things differently then.
Editor's comment: Be kind
As I write this the sun is on my back, the windows are open, the first days of spring mean new flowers are poking their heads above the soil, bees are buzzing, and my cat is chasing her tail in the garden.
Analysis: Risk manager associations downbeat on Aon-Willis takeover
Post gathers feedback from across the industry on what Aon’s takeover of Willis – to create the biggest broker in the world – will mean for the market
Your 'business as usual' March digest
We understand that while it’s important to keep bringing you up to date and important news on the Covid-19 pandemic and its impact on the industry, it’s also critical, especially while homeworking, to know what's happening outside of this. With that in…
Interview: Lisa Bartlett, Crawford & Company
Having spent her career working for brokers and then an insurer, Crawford & Company’s new UK and Ireland president Lisa Bartlett speaks to Jonathan Swift about why she has now thrown herself into claims management and loss adjusting, and how she is…
Aon-WTW merger expected to continue unabated despite pandemic
The deal struck between broking giants Aon and Willis Towers Watson to combine to form the world’s largest insurance broker is unlikely to be jeopardised by the coronavirus pandemic, a corporate advisory expert has told Post.
Aon’s Dudley becomes chair of Liiba
Richard Dudley, CEO of Aon’s UK Global Broking Centre, has succeeded Roy White of Marsh as chair of the London and International Insurance Brokers’ Association.
This week: Keep calm and carry on
This week the World Health Organisation labelled Covid-19 a pandemic as the number infected worldwide and fatalities from the disease continue to rise. As global stock markets crash sparking fears of a recession, the ripple effect has been felt across…
Analysis: Insurers nix staff travel as coronavirus casts shadow over events
Some firms are telling their staff to avoid all but essential work travel in the UK due to coronavirus concerns, leading to some insurance event postponements and cancellations, Post has learned.
Mazars flags CMA interest in Aon/WTW deal
Mazars has forecast that the Competition and Markets Authority will look closely at Aon’s takeover of Willis Towers Watson, as the accountants also predicted the deal could lead to further mergers and acquisitions.
Ratings agencies positive on Aon/WTW deal
Ratings agencies S&P and Moody's have reacted positively to the Aon and Willis Towers Watson merger deal, despite highlighting "significant" execution and integration risk.
'Disappointing' Aon/WTW merger could see risk managers turn backs on broking giants, warns Airmic CEO
The UK risk management association Airmic has voiced disappointment at Aon’s merger with Willis Towers Watson, warning that its members are prepared to turn to alternative modes of risk transfer if they feel they aren’t getting value for money.
Aon CFO outlines costs and timeline of WTW merger
The cost of bringing together Aon and Willis Towers Watson will be up to $1.8bn over three years, with the combined firm facing a months-long process of securing regulatory approval in almost 100 jurisdictions around the world.
Aon strikes deal to buy Willis Towers Watson
Aon is set to buy fellow broking giant Willis Towers Watson in an all-stock deal worth $29.9bn expected to close in the first half of 2021, subject to regulatory and shareholder approval.
Analysis: How are insurers responding to the rise of cryptocurrencies?
The use of cryptocurrencies continues to grow with investors increasingly regarding them as another asset class, while an increasing number of companies and countries now accept them as valid forms of currency