Willis Towers Watson shifts ILS from securities to reinsurance unit
Broker Willis Towers Watson is integrating its insurance linked securities (ILS) business into its reinsurance unit Willis Re.
The ILS business was previously a part of the Willis Towers Watson Securities business unit. Willis said it is making changes in order to enhance its client offering in this area.
William Dubinsky will continue to lead the ILS team reporting to Willis Re deputy chairman Mark Hvidsten.
James Kent, Global CEO of Willis Re, said: “The movement of the ILS business into Willis Re reflects ongoing efforts to evolve our company and better align our portfolios in order to continue to effectively serve our clients. Willis Re’s standing in the ILS market will continue to strengthen as we bring these businesses together in a more effective way.”
Rafal Walkiewicz, CEO, Willis Towers Watson Securities added: “The insurance industry is changing faster than ever and capital markets are becoming an integral part of the industry risk transfer mechanism. Our clients no longer decide between traditional reinsurance and third party capital, but expect an integrated solution that serves their long term needs. Capital markets professionals working hand in hand with reinsurance brokers are best positioned to offer strategic advice and continue to develop cutting edge products for our clients.”
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