Willis Re

What Willis Re does

Willis Re is a specialized reinsurance broker established in 2024 as a joint venture between Bain Capital Insurance (BCIS) and Willis Towers Watson (WTW), providing independent advisory and broking services to insurance and reinsurance companies, pension and annuity providers, and increasingly to specialty end-market clients globally. The company operates across treaty and facultative reinsurance, retrocession, life and health reinsurance, and a growing portfolio of specialty lines including cyber, marine, aviation, energy, casualty, and political violence. It generates revenue through brokerage commissions on reinsurance placements, advisory fees on capital management and risk transfer transactions, and fees from structured facilities such as the CyMax cyber facility and Digital Infrastructure Protector.

The firm's core technology stack centers on the Risk IQ broking platform with embedded Climate Diagnostic analytics for forward-looking climate hazard assessment, alongside the Willis Research Network — a long-standing academic-industry partnership with NCAR, Imperial College London Grantham Institute, University of Exeter, UCL, and University of Newcastle providing proprietary catastrophe modeling, hurricane forecasting, and wildfire risk analytics. Willis Re also accesses the Synthetik Political Violence and Terrorism modelling suite (AnyBuildingRisk, Cityscape, SRCC Quantum) under a technology partnership, and integrates AI/ML methods into hurricane forecasting and parametric trigger design. Multi-carrier panel facilities (CyMax with AXA XL, Beazley, HDI Global, Markel; Digital Infrastructure Protector with Zurich; Asia Art with Circle Asia) and embedded insurance partnerships (Qover, Kwant) extend distribution beyond traditional direct enterprise broking.

The go-to-market is enterprise field sales targeting large financial institutions, with specialized practice teams organized by line of business (Global Life Reinsurance, Global Specialties, Non-Marine Specialties, Aviation, Marine, Property, Treaty). Offices span London (headquarters at 51 Lime Street), Bermuda (90 Pitts Bay Road, Hamilton), Ipswich (15 Friars Street), with hiring signals in New York and Singapore. The leadership team has been aggressively assembled from Guy Carpenter, Macquarie Asset Management, Schroders, Conduit Re, and JLT. Regulatory authorizations include FCA (FRN: 1021638) for the UK entity and BMA licensing under the Insurance Act 1978 for the Bermuda entity. Willis Re maintains thought leadership through the Willis Research Network, regular insights publishing, and the Energy Market Review research series.

Name

Willis Re

Legal name

Willis Re (UK) Limited

Website

https://willisre.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Willis Re is a private specialized reinsurance broker established in 2024 as a joint venture between Bain Capital Insurance and WTW, providing treaty, facultative, and specialty reinsurance broking and advisory to insurers, reinsurers, and pension providers globally.

Ownership category

akta.pro rank

Product category

Reinsurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Facultative Reinsurance Brokerage (FSAOAHAB)

akta.pro secondary industries

Casualty Treaty Reinsurance (FSAOAEAD), Casualty Facultative Reinsurance (FSAOAFAB), Facultative Life Reinsurance (FSAOAFAJ), Man-Made / Terrorism Catastrophe Reinsurance (FSAOACAE)

Keywords

• Reinsurance brokerage
• Risk advisory
• Catastrophe analytics
• Treaty reinsurance
• Insurance broking

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Reinsurance Brokerage Commissions: Willis Re earns commissions on reinsurance placements executed on behalf of clients (insurers, reinsurers, pension and annuity providers). The broker acts as intermediary between cedants seeking risk transfer and reinsurers providing capacity.
2. Advisory and Consulting Fees: Revenue generated from independent advisory services including capital management, balance sheet optimization, portfolio structuring, in-force risk management, pricing support, and strategic risk transfer advice for life insurers, reinsurers, and pension providers.
3. Facultative and Treaty Reinsurance Broking: Fees and commissions earned from arranging facultative and treaty reinsurance across property, casualty, specialty, aviation, marine, and other lines for clients globally.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Willis Re is a specialized global reinsurance broker that places treaty and facultative reinsurance, delivers independent advisory on capital management, balance sheet optimization, and risk transfer, and supports clients with advanced catastrophe, climate, and mortality/longevity analytics. It serves life insurers, reinsurers, pension and annuity providers, and corporate buyers across property, specialty, aviation, marine, energy, cyber, and political violence lines, accessing capacity through Lloyd's, Bermuda, and international markets.

Product overview

Willis Re is a specialized reinsurance broker providing advisory and broking services globally across multiple lines of business. The company operates as a unified platform offering core reinsurance products including Treaty Reinsurance (property, specialty, and casualty treaty), Facultative Reinsurance, and Non-Marine Specialties (cyber, political violence, financial lines). Key platform offerings include the Risk IQ Platform with embedded Climate Diagnostic analytics, the Willis Research Network supporting natural catastrophe modeling, and specialized facilities like Digital Infrastructure Protector for data centers, CyMax for cyber insurance, WELL for US umbrella coverage, and KwantSure for embedded subcontractor insurance. Recent additions include the Global Life Reinsurance Practice for life/health reinsurance and the Asia Art Insurance Facility. The portfolio integrates advanced analytics capabilities including hurricane forecasting, wildfire risk analysis, and climate hazard modeling to support reinsurance decision-making.

Differentiator

Problem solved

Functional benefit

Products and services

• Global Life Reinsurance Practice Independent life reinsurance advisory and broking services for life insurers, reinsurers, and pension and annuity providers, offering traditional and structured reinsurance transactions, funded and capital-motivated reinsurance, portfolio structuring, in-force risk management, advanced analytics, pricing support, and strategic risk transfer advice across mortality, morbidity, longevity, and pension risk transfer.
• Digital Infrastructure Protector End-to-end lifecycle risk management solution for data center owners, operators, contractors, and hyperscalers that consolidates construction, operational property, marine, and cargo exposures into a single policy backed by over $3bn in capacity from Zurich, with an eight-point digital infrastructure risk framework and access to Willis's Global Digital Infrastructure Group.
• CyMax Cyber Insurance Facility Primary and excess cyber insurance facility for SMEs and middle-market companies with turnover up to €500m / CHF500m, delivered through a panel of AXA XL, Beazley, HDI Global, and Markel with simplified one-page application, pre-agreed pricing grids, and proprietary wordings aligned with GDPR, NIS2, and DORA.
• WELL (Willis Excess Liability Lineslip) Umbrella insurance solution offering up to $50m in combined lead umbrella and first excess coverage for large and complex casualty risks in the United States, structured through a consortium of Lloyd's syndicates under a single policy for organizations with complex or challenging risk profiles.
• Asia Art Insurance Facility Art insurance facility for individual collectors and art galleries across Asia offering comprehensive fine art, jewellery, specie, and exhibition coverage with reduced minimum premium thresholds via Circle Asia's digital platform and Willis's fine art underwriting expertise.
• KwantSure Embedded Insurance Embedded digital insurance program integrated into Kwant's construction workforce management platform, enabling subcontractors to purchase General Liability, Professional Liability, Cyber, Business Owner's Policy, and Workers' Compensation coverage directly through the platform alongside workforce operations and COI tracking.
• GB Affinity Embedded Insurance Ecosystem Embedded insurance technology ecosystem enabling businesses across financial services, retail, automotive, and membership organizations to integrate insurance directly into customer journeys across 30+ European markets, combining Qover APIs and AI-enhanced claims handling with Willis Radar pricing and analytics.
• Parametric Flood Cover for UK Racecourses Sensor-based parametric insurance product covering localized flooding at UK racecourses, using Previsico flood forecasting sensors to trigger payouts, underwritten by Generali with MGA Descartes Underwriting, designed to address protection gaps where traditional cover is unavailable.
• Reinsurance Advisory and Broking Core reinsurance brokerage services including treaty and facultative reinsurance, retrocession, specialty lines (aviation, marine, energy, casualty, cyber, political violence), and analytics-supported risk transfer solutions for insurers and reinsurers globally.
• Treaty Reinsurance Property treaty and specialty treaty reinsurance brokerage for global clients, including retrocession solutions, structured through Lloyd's, Bermuda, and international markets.
• Non-Marine Specialties Specialized reinsurance brokerage across casualty, financial lines, cyber, political violence, and delegated authority business.
• Natural Catastrophe Analytics Analytics services including hurricane analysis, catastrophe modeling, and risk quantification to support reinsurance purchasing decisions and capital allocation.

Quantifiable outcome

• Reinsurers achieved highest-ever aggregate ROE of 21.4% in Q1 2026 (Fitch), improving 16.16 points on combined ratio vs Q1 2025
• +2 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature6 records

Partnerships

Nine partnerships are on record, tiered core, minor and strategic.

• AXA XL, Beazley, HDI Global, Markel (CyMax Facility panel)coreChannel Partner/ Reseller/ Distributor · 1 July 2026Willis expanded its CyMax cyber insurance facility across EMEA in partnership with AXA XL, Beazley, HDI Global, and Markel. The panel of insurers provides primary and excess cyber insurance capacity for SMEs and middle market companies with turnover up to €/CHF500m. The facility moved from a single-insurer to panel-based structure offering broader access, higher limits, and faster execution.
• Descartes Underwriting (MGA)minorChannel Partner/ Reseller/ Distributor · 12 May 2026Descartes Underwriting acts as the MGA partner in the parametric flood insurance product for UK racecourses, providing underwriting capacity alongside lead insurer Generali for the sensor-based parametric flood coverage developed by Willis.
• GeneraliminorChannel Partner/ Reseller/ Distributor · 12 May 2026Generali serves as the lead insurer for the parametric flood insurance product covering UK racecourses, providing the primary insurance capacity for the policy developed by Willis in partnership with Previsico and Descartes Underwriting.
• Zurich InsurancecoreChannel Partner/ Reseller/ Distributor · 9 April 2026Willis collaborated with Zurich to develop Digital Infrastructure Protector, an end-to-end lifecycle risk management solution for data center owners, operators, contractors, and hyperscalers. Zurich provides over US$3 billion in capacity for the solution, consolidating construction, operational property, marine, and cargo exposures under a single policy. Willis leads the broking and risk engineering, with Zurich as the lead capacity provider.
• Circle AsiastrategicStrategic or Co-development Partner · 26 March 2026Willis partnered with Circle Asia to launch Asia's first art insurance facility for individual collectors and art galleries, designed to address gaps in traditional fine art insurance with lower minimum premium entry points. The facility leverages Circle's digital platform and Willis's fine art underwriting expertise, expanding Willis's specialty capabilities in Hong Kong and across Asia's growing art market.
• QoverstrategicTechnology or Integration · 16 March 2026Willis partnered with Qover to expand its GB Affinity technology ecosystem for embedded insurance solutions. The partnership combines Qover's APIs, real-time dashboards, and AI-enhanced claims handling with Willis's Radar pricing and analytics technology, enabling companies across financial services, retail, automotive, and membership sectors to launch tailored insurance programs at scale across 30+ European markets.
• SynthetikcoreTechnology or Integration · 15 January 2026Willis and Synthetik extended their long-term partnership granting Willis access to Synthetik's complete Political Violence and Terrorism (PVT) software modelling suite including AnyBuildingRisk, Cityscape, and SRCC Quantum tools. The integration enables enhanced civil unrest analysis and more thorough evaluation of terrorism, political violence, strikes, riots, and civil commotion insurance implications for clients.
• WTW (Willis Towers Watson)coreStrategic or Co-development Partner · 1 January 2024Willis Re operates as a joint venture with WTW. The new Global Life Reinsurance Practice is a strategic collaboration with WTW's Insurance Consulting and Technology business, which provides actuarial expertise, advanced modelling, data-driven insights, and transaction experience to complement Willis Re's broking platform. The Willis Research Network also connects Willis Re/WTW with academic institutions for analytics.
• Willis Research Network (Academic Partners: NCAR, Imperial College London, University of Exeter, UCL, University of Newcastle)coreStrategic or Co-development PartnerThe Willis Research Network is a long-standing academic partnership that concentrates specialist scientific knowledge (hurricane modelling, wildfire risk, climate science, parametric analytics) for the benefit of Willis Re and WTW clients. Key partners include Dr James Done (NCAR), Professor Ralph Toumi (Imperial College London Grantham Institute), Dr Megan Hart, Dr Cameron Rye, and Jessica Boyd. The Network is described as one of the world's longest-running academic-industry partnerships in insurance.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• BMS Group: Independent specialty (re)insurance broker with strong reinsurance capabilities, owned by CD&R. Competes with Willis Re in specialty treaty, casualty, and analytics-driven placements for mid-market and large cedants.
• Aon Reinsurance Solutions: One of the 'Big Three' global reinsurance brokers and the primary competitor to Guy Carpenter and Willis Re across treaty, facultative, and specialty placements. Comparable in offering a full advisory plus placement platform to life, P&C, and specialty insurers and reinsurers.
• Howden Re: Independent specialty reinsurance broker formed from the merger of Howden's reinsurance division with TigerRisk; recently taken public via Howden Group's IPO. Competes directly with Willis Re in specialty treaty, capital advisory, and analytics-led reinsurance placements.
• TigerRisk Partners: Independent reinsurance and capital advisory firm that merged with Howden in 2023; remains operationally distinct and competes with Willis Re on capital management, ILS advisory, and specialty placements.
• Lockton Re: Independent reinsurance broking arm of the world's largest privately held insurance broker. Competes with Willis Re across treaty, facultative, and specialty placements with a similar independent, conflict-free positioning.
• Guy Carpenter: The reinsurance broking arm of Marsh McLennan and the largest dedicated reinsurance broker globally. Willis Re has directly poached multiple senior brokers from Guy Carpenter and is a named defendant in a High Court action brought by the firm, evidencing direct head-to-head competition for talent and mandates.

Emerging players

• McGill and Partners: Independent specialty (re)insurance broker launched in 2019 with significant growth in reinsurance and capital advisory. Competes with Willis Re for talent and mandates in specialty and capital solutions, though at smaller scale.

Broad incumbents

• Munich Re: Global reinsurance carrier with NatCatSurance and other advisory offerings that overlap with Willis Re's analytics and risk advisory capabilities. A counterparty and competitor at the boundary between reinsurance carrier and broker-led advisory.
• WTW (Willis Towers Watson) Reinsurance: WTW operates its own broader reinsurance advisory and broking capabilities outside of the Willis Re JV. While Willis Re is part-owned by WTW, the two entities can overlap on reinsurance mandates, creating a parent-versus-platform dynamic that distinguishes WTW's wider portfolio from Willis Re's specialist focus.
• Swiss Re: One of the world's largest reinsurance carriers that also offers broker-adjacent advisory and analytics services. While not a pure broker, Swiss Re competes with Willis Re for client mindshare on placement strategy and risk analytics for cedants and buyers of capacity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Willis Re