Core Insights - Willis, a WTW business, has appointed Grant Williamson as the Canada leader within the Corporate Risk and Broking (CRB) business, reflecting the company's commitment to growth in the Canadian market [1][2] Group 1: Appointment and Role - Grant Williamson will collaborate with the Canadian leadership team and leaders across North America to implement the Canadian growth strategy through targeted initiatives and enhanced local execution [2] - Williamson's appointment signifies a deepening of leadership presence in Canada, aimed at driving continued growth in this key market [2] Group 2: Background and Experience - Williamson has 20 years of experience in enterprise risk management, property and casualty insurance, and employment practices liability, with a proven track record in delivering client-focused risk solutions [3] - Prior to joining WTW in October 2024, Williamson held senior roles in the insurance industry, including National Corporate Segment & Central Zone Leader at Marsh and Managing Director of the Toronto Branch at JLT Canada [3] Group 3: Leadership Comments - Pat Donnelly, Head of Risk & Broking North America, emphasized Williamson's strategic perspective and expertise in the Canadian market as essential for expanding the company's presence [4] - Ionel Rizea, Chief Commercial Officer, expressed excitement about Williamson's innovative approach to risk management, which is expected to drive significant client value and growth for the Canadian business [4]

Core Insights - WTW launched its 2025 Global Supply Chain Risk Survey, revealing significant shifts in supply chain risk management among businesses [1][2] Group 1: Survey Overview - The survey involved 1,000 senior decision-makers from companies with annual revenues exceeding $250 million, including risk managers, supply chain and logistics managers, and CEOs [2] - Conducted in November 2024, the survey serves as a follow-up to the 2023 Global Supply Chain Risk report [1][2] Group 2: Key Findings - Cybersecurity and supplier contract vulnerabilities are now critical concerns in enterprise risk management [6] - Digital transformation and data availability are prioritized, with a focus on aligning supply chain goals with broader organizational objectives [6] - Companies are enhancing executive oversight and forming specialized risk management teams, indicating opportunities for future development despite existing gaps in comprehensive risk management strategies [6] Group 3: Expert Commentary - Simon Sølvsten emphasized the complexity of supply chains and the challenges in maintaining oversight of inherent risks for organizational resilience [4] - Hugo Wegbrans highlighted the need for thorough risk understanding and quantification in the insurance industry to ensure appropriate premium pricing and competitiveness [4]

Core Viewpoint - WTW has appointed Luke Ware as Head of Asia, expanding his role alongside his current position as Head of Corporate Risk & Broking, Asia, to enhance the company's growth and client service in the region [1][2]. Group 1: Appointment and Responsibilities - Luke Ware will collaborate with WTW business leaders across various sectors to drive innovation and deliver solutions tailored to the needs of clients in Asia [2]. - With over 20 years of experience in broking and risk management, Luke has a strong background in the insurance sector across Australia, London, and Asia [2]. Group 2: Leadership and Vision - Pamela Thomson-Hall, Head of International at WTW, highlighted Luke's strategic vision and leadership qualities, which have been crucial for the growth of WTW in Asia [3]. - Luke expressed his commitment to understanding client needs and leveraging WTW's solutions to create actionable opportunities for business success in a complex environment [3]. Group 3: Company Overview - WTW provides data-driven, insight-led solutions in people, risk, and capital, serving clients in 140 countries and markets [4]. - The company focuses on enhancing organizational resilience and maximizing performance through collaboration with clients [4].

Group 1 - WTW has integrated Moody's global flood data into its proprietary risk management tools, enhancing its Property Quantified platform and reflecting a commitment to modernizing risk management through advanced technology [1][2] - The integration allows WTW's clients to gain additional insights for optimizing their insurance programs, investments, and risk management strategies with increased confidence [2][3] - Both companies emphasize their ongoing investment in technology and data to empower clients in risk analysis and decision-making, with Moody's analytics being expanded across a broader range of perils [3][6] Group 2 - WTW operates in 140 countries, providing data-driven solutions in people, risk, and capital, aimed at enhancing organizational resilience and performance [4] - Moody's plays a significant role in the Property & Casualty industry, with its models underpinning nearly US$2 trillion in the sector, helping organizations manage risks from various catastrophes [6][7] - The collaboration between WTW and Moody's aims to streamline and enhance the risk and insurance value chain, providing valuable insights to decision-makers [3][5]

Core Insights - Willis, a WTW business, has appointed David Lofstrom as Deputy Regional Leader for New England within Corporate Risk and Broking in North America [1][2] - Lofstrom's role will focus on identifying new opportunities and accelerating growth in the New England region while enhancing client value through collaboration with Industry Vertical Division leaders [2][3] - Lofstrom brings over thirty years of industry experience, previously serving as Area President at Gallagher in the Greater Boston region, where he managed branch performance and business development [3][4] Company Strategy - The appointment of Lofstrom aligns with WTW's growth strategy for North America, particularly in sales and business development [4] - WTW aims to provide innovative solutions to clients, leveraging Lofstrom's background in brokerage and risk management [4] Organizational Structure - Lofstrom will be based in Boston and report directly to Ionel Rizea, Chief Commercial Officer for CRB North America [3]

Core Insights - Willis, a WTW business, has appointed David Loftstrom as Deputy Regional Leader for New England within Corporate Risk and Broking in North America [1][2] - Loftstrom's role will focus on identifying new opportunities and accelerating growth in the New England region while enhancing client value through collaboration with Industry Vertical Division leaders [2][3] - Loftstrom brings over thirty years of industry experience, previously serving as Area President at Gallagher in the Greater Boston region, where he managed branch performance and business development [3][4] Company Strategy - The appointment of Loftstrom aligns with WTW's growth strategy for North America, emphasizing sales and business development [4] - The company aims to provide innovative solutions to clients, leveraging Loftstrom's background in brokerage and risk management [4] Organizational Structure - Loftstrom will be based in Boston and report directly to Ionel Rizea, Chief Commercial Officer for CRB North America [3]

Core Insights - The current commercial insurance market is characterized by a surplus in capacity, providing opportunities for buyers to secure favorable terms and broaden coverage options [1][2][5] - The U.S. policyholder surplus has exceeded $1 trillion, and global reinsurance capital has surpassed $700 billion, indicating historic financial strength in the commercial insurance market [2] - Increased negotiating power and flexibility for buyers are evident, allowing for reassessment of strategies and broader risk financing options [3][5] Market Dynamics - The market is experiencing renewed competition and ample capital, signaling a healthy buyer's market in 2025 [5] - Insurance carriers are pursuing growth strategies based on stabilized rate adequacy, leading to broader underwriting appetites and competitive pricing [2][5] - New market entrants and innovative solutions, such as Willis' 'Gemini auto-follow facility', are enhancing options for buyers to manage emerging risks [3] Pricing Trends - Price predictions for various insurance lines in 2025 show a range of increases and decreases, with notable categories including: - General liability: +2% to +8% [6] - Umbrella (high hazard): +10% to +15% [6] - Auto: +10% to +20% [6] - Cyber: -5% to +5% [8] - Specific risks such as terrorism and political violence are projected to see declines, with terrorism rates ranging from -10% to -2.5% [8] Expert Insights - The latest report includes expert commentary from industry leaders, providing valuable perspectives on market conditions and emerging risks [4] - A new segment on policy wordings addresses critical clauses affected by tariff-related risks, highlighting the importance of clarity in coverage [4]

Core Insights - WTW announced a change in ownership of its joint venture, Al-Futtaim Willis (AFW), with Al-Futtaim selling its 51% stake, allowing WTW to fully manage the business upon regulatory approval [1][2] - This strategic move aligns with WTW's investment strategy focused on optimizing its global portfolio and enhancing its broking businesses in the Middle East [2][3] - The transaction is expected to close in the second half of 2025, pending regulatory approval [1][2] Company Overview - WTW is a global advisory, broking, and solutions company, providing data-driven solutions in people, risk, and capital across 140 countries [3] - Al-Futtaim, established in the 1930s, is a diversified regional business based in Dubai, operating in sectors such as automotive, financial services, real estate, retail, and health, employing over 33,000 people [4][5][6] Strategic Implications - The integration of AFW will enhance WTW's service offerings in the UAE and the wider region, providing clients with improved access to specialist expertise and global placement capabilities [2][3] - WTW's commitment to invest in the Middle East is further demonstrated by its recent establishment of insurance and reinsurance broking entities in Saudi Arabia [2]

Core Insights - WTW has acquired CFS International Inc., enhancing its trade credit business and expanding its presence on the U.S. West Coast [1][3] - CFS, founded in 1990, specializes in trade credit insurance solutions, helping global firms manage credit risk [2] - This acquisition is part of WTW's strategy to optimize its global portfolio and pursue high-growth broking businesses [3] Company Overview - WTW provides data-driven solutions in people, risk, and capital across 140 countries, aiming to enhance organizational resilience and performance [4] - The acquisition of CFS aligns with WTW's focus on specialized industries and strengthens its position as a leading trade credit provider [3] Leadership Comments - Scott Burnett from WTW emphasized that the acquisition of CFS is a strategic move to enhance service for clients on the West Coast [3] - Ralph Clumeck, President of CFS, expressed confidence in the transition to WTW, highlighting the benefits for clients [3] - Todd Lynady noted the commitment to building a leading trade credit platform in North America through this acquisition [3]

Core Insights - Political risks are among the top five risks for 75% of global companies, with 11% identifying it as their number one risk [1] - 58% of companies anticipate negative financial impacts due to US tariffs, comparable to the 60% affected by the Russia-Ukraine conflict in 2023 [2] - Political risk concerns have evolved significantly over the past eight years, now affecting a broader range of sectors and focusing on US policy [3] Industry Impact - Highly exposed industries such as contracting, transport, and mining are disproportionately affected by political risks [1] - In 2023, political risk losses were the highest recorded, driven by expropriation, political violence, and currency convertibility issues, with 18% of respondents needing to restate corporate earnings [5] - Major political risk concerns for 2025 include US policy uncertainty, particularly regarding tariffs, and geopolitical tensions affecting market access [5] Risk Mitigation Strategies - Companies are increasingly relying on direct negotiations with host governments and political risk insurance to recover from past losses [5] - The most common strategies for mitigating future risks in 2025 include diversification and a "three lines of defense" approach [5]