Willis Towers Watson (WTW) will integrate its insurance-linked securities (ILS) business into its reinsurance firm, Willis Re.
The ILS business, which was previously part of WTW Securities business unit, will be integrated in order to enhance the client offering.
The ILS team will continue to be led by head of ILS William Dubinsky and report to Willis Re deputy chairman Mark Hvidsten.
According to James Kent, global CEO of Willis Re, the firm’s status in the ILS market will continue to strengthen as the businesses are brought “together in a more effective way”.
Kent added: “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.”
Rafal Walkiewicz, CEO of WTW Securities, commented: “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.”
He continued: “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.”