Arthur J. Gallagher & Co. has acquired Aspera Sigorta ve Reasürans Brokerliği A.Ş. (Aspera), an insurance and reinsurance brokerage firm based in Istanbul, Türkiye, in an undisclosed transaction. Aspera specialises in clients operating in sectors including energy & power, industrial property, financial lines, construction, and aviation & space. Founding partner Evrim Özkoç and the broking […]

As economic and insurance exposures in high-risk regions are likely to increase with climate change, impacting banks’ and insurers’ ability to support clients, the Bank of England has updated its supervisory expectations to help guide these firms in managing climate-related financial risks. In recent years, the world has faced a number of natural disasters that […]

Willis, a WTW business, has integrated Moody’s detailed global flood data into its proprietary risk management tools, building upon its partnership with the company. In the past, Willis has incorporated Moody’s catastrophe models into its Property Quantified platform. This expanded partnership aligns with the pair’s shared vision to modernise risk management through advanced modelling and […]

WTW, a global advisory, broking, and solutions firm, has appointed Steve Hutchinson as Head of Property & Casualty (P&C) for Hong Kong and Macau at Willis, a WTW business. Hutchinson brings over two decades of insurance market experience across London, Hong Kong, and Singapore. He joins Willis from Howden Insurance Brokers Limited, where he served […]

Renew Risk, a risk modelling and analytics firm, has launched two new earthquake and typhoon models for offshore wind farms in Japan. Specifically designed for Japan’s disaster-prone offshore wind sector, these are the first and only commercially available catastrophe models launched as the country focuses on expanding its wind power capacity as part of its […]