Willis Towers Watson
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Beach has hired Willis Re executive Warren Berkstresser as senior vice president of its US reinsurance division.
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Warren Berkstresser will focus on US property treaty and specialty programs and open and run the broker’s new Seattle office.
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Both companies secure more than 95% shareholder support for the transaction. -
The companies claim “overwhelming” investor support at meetings today.
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The broker also confirms the appointment of James Goodwin as head of power and mining.
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The deals provide cover in case pensioners live longer than expected.
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The investment hit to the industry has nearly been erased, while capital raising is approaching the scale set by the class of 2005 start-ups.
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She has over 20 years of (re)insurance experience and will start her new role at Willis Re in mid-July.
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The broker's total insured loss estimate spanned $11bn to $140bn, depending on the recovery from Covid-19.
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The decline comes amid a 15 percent year-on-year jump in reinsurance capital.
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Willis Re president Andrew Newman said capital will continue to flow into insurance if adequate returns are on offer.
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Willis Re’s managing director of UK reinsurance will have a similar role at Guy Carpenter, it is understood.
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