Welcome to our dedicated page for WLTW news (Ticker: WLTW), a resource for investors and traders seeking the latest updates and insights on WLTW stock.
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Willis Towers Watson has appointed four new directors: Inga Beale, Fumbi Chima, Michael Hammond, and Michelle Swanback, effective January 1, 2022, to aid in the company's operational transformation plan. This follows a multi-year succession process and engagement with Elliott Management, one of its largest investors. An Operational Transformation Committee will be established to oversee the plan, which aims for $300 million in cost savings by 2024. The current Chairman, Victor Ganzi, expressed confidence in the new board members' ability to enhance shareholder value.
Willis Towers Watson forecasts a global increase of 8.1% in employer-sponsored healthcare benefits costs for 2022, consistent with this year. The 2022 Global Medical Trends Survey reveals significant regional variations, with costs expected to rise 14.2% in Latin America and 7.6% in the U.S. Telehealth adoption has accelerated, with over 50% of insurers offering it across all plans. Insurers anticipate that healthcare costs will continue to rise significantly in the coming years, driven by overuse of care and the impact of COVID-19 on medical trends.
Willis Towers Watson predicts a gradual softening of North American commercial insurance prices in 2022, according to their 2022 Insurance Marketplace Realities report. After years of steep increases, the marketplace is correcting itself, driven by the laws of supply and demand. However, certain sectors, particularly cyber liability and fiduciary liability, are expected to see significant rate hikes. While the overall cost of insurance may rise, buyers can anticipate less severe increases. This reflects improved market conditions for most, although higher-hazard lines will remain challenging.
Willis Towers Watson (NASDAQ: WLTW) announced the acquisition of Leaderim, a leading insurance broking and risk consultancy firm in Israel. Leaderim, with 45 experts, provides commercial insurance solutions and has been operational for over 20 years, focusing on multinational risk programs. This strategic acquisition aims to enhance WTW's presence in Israel and the Middle East, leveraging Leaderim's expertise alongside WTW's global capabilities. The transaction is subject to regulatory approval, and terms remain undisclosed.
Willis Towers Watson (NASDAQ:WLTW) has appointed Eleni Lykoudi as the new Head of the Central and Eastern Europe, Middle East, and Africa (CEEMEA) region. She also takes on the role of Head of Corporate Risk and Broking for CEEMEA, effective immediately. Lykoudi, a recognized leader in the industry, aims to leverage growth opportunities in the region while aligning markets with WTW's global strategy. She has a robust background in business development and has held leadership roles within WTW since 2018, including oversight of Turkey.
Willis Towers Watson (NASDAQ: WLTW) has announced a partnership with European insurtech Indeez to distribute tailored insurance products for gig workers in the Asia Pacific region. The partnership aims to address gaps in protection for independent workers, especially as the gig economy grows post-COVID-19. Indeez, which specializes in affordable protection solutions for gig workers, will utilize WTW's extensive network to implement these programs across key Asia Pacific markets. This collaboration sets the stage for potential future partnerships in other global regions.
Willis Towers Watson (NASDAQ:WLTW) has appointed Clare Muhiudeen as Head of Asia, effective immediately. Based in Hong Kong, Clare will lead business growth and improve client and colleague experiences across the region. She succeeds Scott Burnett, now Chief Commercial Officer. With 30 years in human capital consulting and extensive international experience, Clare aims to enhance the company's value proposition across Health, Wealth and Career, and Risk and Broking segments. Her leadership is expected to strengthen advice and solutions delivery to clients in Asia.
Willis Towers Watson (NASDAQ: WLTW) announced its participation in two virtual conferences: the Raymond James Insurance Conference on November 9, 2021, and the MKM virtual Best Ideas Conference on November 17, 2021. Carl Hess, President and Future CEO, will present at both events, with timings set for 1:00 p.m. and 2:30 p.m. Eastern Time, respectively. Live webcasts will be available via the company's Investor Relations page, along with replays after the events.
Willis Towers Watson (NASDAQ:WLTW) has appointed Michael Brown as the permanent Head of New Zealand, based in Auckland, effective immediately. Brown has over 15 years of experience at WTW and previously served as interim country leader since May 2021. His extensive market knowledge aims to enhance client services through advanced analytics and technology. Simon Weaver, Head of Australasia, praised Brown's leadership and local market insight, emphasizing their commitment to delivering tailored risk management solutions.
