WTW
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The broker’s Q3 organic growth was driven by specialty lines, including fac financial solutions, natural resources, surety, construction and aviation. -
WTW said that new staff were ramping up revenue production, following a period of investment in talent.
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The exercise is understood to involve mainly junior and non-broking staff.
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Kenneth Gould and Frank Scardino resigned “effective immediately” in early October to join WTW, allegedly forgoing a required 30-day notice period.
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Despite an upswing in deal activity, large deals have continued to see a steady decline in volume that began in 2021.
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The two executives, based in Dallas, Texas, have close to 60 years of combined insurance experience.
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The start-up MGU will initially focus on real estate, hospitality and leisure, financial institutions and professional services industries.
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The executive was most recently global engagement partner at Marsh.
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Survey participants said "much work remains post-implementation".
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Besides reinsurance broking, MGAs and MGUs, affinity is another segment where WTW can scale its operations, the executive noted.
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The investor’s stake in WTW is now valued at roughly $120mn, while its position the prior quarter was worth around $423mn, according to its Q1 13-F filed with the SEC.
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Prior to joining WTW, Bryce was a partner and private client practice leader at Canadian broker The Magnes Group.
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