Willis Re, the reinsurance advisory and broking joint venture between Bain Capital (BCIS) and WTW, has launched a global life reinsurance business with Christian Howells as head of life reinsurance.
Willis Re said the new business was created to provide independent life reinsurance advisory and brokerage services globally to organizations such as life insurers, reinsurers and pension and annuity providers.
The company explained that the new business is a strategic collaboration with WTW’s insurance consulting and technology business, which offers a wide range of analytical and consulting resources, allowing it to provide a wide range of services covering mortality, morbidity, longevity and pension risk transfer solutions.
As previously announced, the business will be led by Howells, who recently joined Willis Re from Macquarie Asset Management where he was head of international insurance solutions.
Prior to this, he spent more than 16 years at Schroders, where he held a number of senior leadership roles serving insurance clients globally and leading insurance solutions initiatives across Asia Pacific.
Howells commented: “Life insurers are operating in a market defined by capital pressures, regulatory changes, longevity risks and accelerating product innovation.
“The New Life practice is designed to support clients beyond the transaction itself, combining market insights, rigorous analysis and strategic advice to help clients capitalize on market opportunities and enhance their overall business performance.
“Our role as a trusted and technologically differentiated reinsurance broker is critical as companies seek innovative ways to manage risk, free up capital and adapt to changing markets.”
Duncan Briggs, senior managing director of WTW’s Insurance Advisory and Technology practice, said: “What really differentiates this new offering is the depth of actuarial expertise and analytical capabilities it brings to the market.
“By combining the advanced modeling, data-driven insights and trading experience of WTW’s insurance advisory and technology businesses with Willis Re’s brokerage platform, we are creating a truly unrivaled proposition that empowers clients to make more informed decisions, optimize capital and unlock value in increasingly complex portfolios.”
