Willis Towers Watson adds Shanghai to its Global Markets Property & Casualty Hub

Rhea-AI Summary

Willis Towers Watson (NASDAQ: WLTW) has expanded its Global Markets Property and Casualty Hub to include Shanghai, enhancing its global placement model for clients. This addition aims to facilitate better coordination across major hubs like London, Bermuda, and Singapore, promoting the sharing of expertise in the Asia Pacific region. The Global P&C team, comprising over 145 experts, will help clients navigate the insurance market more effectively, reflecting the importance of China as the world's second-largest insurance market.

Positive

• Expansion of the Global Markets P&C Hub to Shanghai enhances global placement capabilities.
• Access to a broader range of insurance solutions for clients in China.
• Strategically positions Willis Towers Watson in the growing China insurance market.

Negative

• None.

LONDON and SHANGHAI, China, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking, and solutions company today announced the addition of Shanghai to its global property and casualty hub, aimed at enhancing the company’s global placement model for clients.

The Global Markets P&C Hub further strengthens the ability of Willis Towers Watson’s placement teams to act as one. Initially focused on the coordination of placement activity across London, Bermuda and Singapore, the addition of Shanghai enables the Hub to facilitate increased sharing of ideas, expertise, innovation and perspectives across the Asia Pacific region. The Hub provides clients with access to a truly global response through one point of access. The Global P&C team has over 145 experts across the world who can collaboratively assess client needs to establish the best marketplace for placements and where appropriate provide international market solutions for our clients. The Hub is expected to broaden into other countries as part of a second phase expected throughout 2021.

Garret Gaughan, Head of Global Markets P&C, Willis Towers Watson, said: “We are delighted to be broadening the reach of our Global P&C hub which will ensure we continue to provide our clients with access to the best solutions available in the global marketplace. We offer a true broking across borders approach to global placements underpinned by strong data and analytics. This global service proposition places us at the forefront of our industry. The addition of Shanghai to the Hub demonstrates Willis Towers Watson’s commitment to delivering innovative solutions and support to our clients through challenging times, including in the Asian region.

This global service proposition places us at the forefront of our industry. The addition of Shanghai to the Hub demonstrates Willis Towers Watson’s commitment to delivering innovative solutions and support to our clients through challenging times, particularly in the Asian region.”

Wise Xu, Head of Corporate Risk & Broking, China and Head of China at Willis Towers Watson, added: “We are pleased to see that Shanghai has joined the Global Markets P&C Hub along with London, Bermuda and Singapore. This reflects the strategic importance of the China insurance market, being the second largest insurance market globally next to the US. Clients in China can now access global insurance capacity more efficiently through our Shanghai hub and benefit from our truly global marketplace strategy. At the same time, the dynamics of China’s emerging markets will also provide competitiveness and flexibility to our global clients. This will help to introduce more innovative solutions to the Chinese insurance market to satisfy the risk transfer needs of clients in China.”

More information about the Global Markets P&C Hub can be found at www.willistowerswatson.com/en-GB/solutions/services/global-markets-p-and-c-hub

About Willis Towers Watson

Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential.

Media contact

Sarah Booker: +44 (0)7917 722040 | sarah.booker@willistowerswatson.com

Clara Goh: +65 6958 2542 | clara.goh@willistowerswatson.com 

FAQ

What is the significance of Willis Towers Watson's new hub in Shanghai for WLTW stockholders?

The expansion to Shanghai enhances global service offerings and positions WLTW advantageously in the growing Chinese insurance market.

How does the Shanghai hub benefit clients of Willis Towers Watson?

Clients in China can access global insurance capacity more efficiently and benefit from innovative solutions.

When was the Shanghai hub added to the Global Markets Property and Casualty Hub?

The addition was announced on January 13, 2021.

What markets are included in the Global Markets Property and Casualty Hub?

The Hub initially focuses on London, Bermuda, Singapore, and now Shanghai.