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Willis Towers Watson (WLTW) commissioned a groundbreaking global analysis highlighting that by 2040, half of all cotton growing regions may face severe climate risks due to high temperatures and extreme weather events. This report, part of the Cotton 2040 initiative, stresses the urgent need for sustainable practices across the cotton industry to mitigate risks like drought, flooding, and heat stress. Significant findings indicate that all major cotton-producing countries, including India and the USA, are vulnerable, impacting about 31% of the global textile market valued at $12 billion.
Aon plc (NYSE: AON) and Willis Towers Watson (NASDAQ: WLTW) released a statement regarding the U.S. Department of Justice's legal action against their proposed merger. Both companies criticized the DOJ's stance, highlighting their belief that the merger will enhance innovation and provide better services to clients. They emphasized their ongoing progress with other global regulators and the strong performance of both firms post-announcement of the merger. Aon and WLTW remain committed to their combination despite the DOJ's challenges.
Willis Towers Watson reported a nearly 8% increase in U.S. commercial insurance prices for Q1 2021 compared to Q1 2020, according to their Commercial Lines Insurance Pricing Survey.
Price increases were significant but lower than the previous three quarters. Excess/umbrella and directors’ and officers’ liability saw the largest increases, while workers compensation prices showed a slight reduction. For account sizes, small accounts experienced below double-digit increases, while large accounts had increases above double digits.
Willis Towers Watson (NASDAQ: WLTW) has announced a groundbreaking partnership with the Mesoamerican Reef Fund to launch the Mesoamerican Reef Insurance Programme, aimed at protecting and restoring the endangered 1,000km Mesoamerican Reef. This initiative focuses on developing parametric insurance solutions to mitigate hurricane risks affecting the reef and benefiting nearly 2 million people in Mexico, Belize, Guatemala, and Honduras. By combining insurance with ecosystem resilience, this program seeks to ensure immediate funding for reef restoration, enhancing both environmental and community welfare.
Aon has signed a definitive agreement to divest Willis Re and certain corporate risk and broking services to Arthur J. Gallagher for $3.57 billion. This transaction is a crucial step in Aon's proposed merger with Willis Towers Watson, aiming to resolve regulatory questions and expedite approval processes. Aon anticipates $800 million in cost synergies and believes the combination will drive revenue growth, margin expansion, and enhanced shareholder returns. Regulatory approvals are pending, but Aon aims to finalize the merger by Q3 2021.
Willis Towers Watson has launched a dedicated working group to explore a new breed of investment management firm that will invest across the entire equity spectrum. Established in March 2021, this team will assess public and private equity opportunities. A recent paper highlights the need for private equity to evolve its investment structures to attract a broader investor base. The group also emphasizes improving ESG standards among private equity managers, advocating for new frameworks to enhance reporting on carbon emissions as a step toward net zero.
