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Daily Digest: New WTW strategic plan, Lloyd's rate flattening 'premature', Acrisure Re's chief executive on 'fair' pricing

Insurance Day

Daily Digest: New WTW strategic plan, Lloyd's rate flattening 'premature', Acrisure Re's chief executive on 'fair' pricing

Willis Towers Watson to woo former brokers as it eyes $10bn revenues Willis Towers Watson is planning to tempt back staff who have exited to rivals as it unveiled an ambitious new business plan for the company in the wake of the collapse of its planned merger with Aon. Carl Hess, who will take over from president and chief executive John Haley at the start of 2022, said Willis Towers Watson is now aiming to be a $10bn-plus revenue company with an operating margin of 24% to 25% by full-year 2024. Revenues were just over $9.3bn at year-end 2020. While there had been some attrition of broking clients and staff during the Aon merger period, the vast majority of clients had remained on their books, while loyal staff would be rewarded with bonuses, executives said. The company will also try to tempt back some of those who had left.

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