Whilst I still harbour some doubts about the merger of a consulting firm and insurance broker, and how effectively they will be able to integrate two very distinct operating models, at times one must take a step back and consider the broader ramifications of the WTW deal.

Disruption in the reinsurance sector has been a big concern for many, with alternative capital being mooted as one of the biggest threats for Reinsurers. Brokers have always had a lot of control in this space though, with some 85% of reinsurance premium flowing through the big 3. If WTW do capitalise on this opportunity to 'become a risk & capital connector in re/insurance and ILS' it will pile yet more pressure on to the RI market that suffered from rating reductions again at 1/1.