WTW completes acquisition of FlowStone Partners
WTW, a leading global advisory, broking and solutions company, today announced that it has completed the acquisition of FlowStone Partners, LLC, an alternative investment firm with highly specialized expertise in private equity secondaries for individual wealth and institutional clients.
“We’re pleased to welcome FlowStone Partners to WTW as part of our Investments business,” said Julie Gebauer, President, Health, Wealth & Career, WTW. “FlowStone meaningfully expands our capabilities and commitment to the wealth space with new private market solutions.”
The acquisition expands the company’s ability to offer better access to private equity for individual wealth investors and bring advanced investment capabilities and innovation to institutional clients.
WTW appoints Hazel Rees as Global Leader of Work & Rewards
WTW has appointed Hazel Rees as Global Leader of its Work & Rewards business, effective June 1st.
Rees brings extensive leadership experience to the role, having led WTW’s European Work & Rewards business since 2021, following earlier leadership roles in Great Britain. Across roles, she has delivered strong growth while positioning the business at the forefront of key market issues such as executive pay, skills‑based reward frameworks and pay transparency.
Rees succeeds Mark Reid, who has led the business for the last eight years. With more than three decades as a globally recognised executive compensation advisor, Mark will return to the core of the business – advising clients directly – while also taking on special initiatives for the company.
Julie Gebauer, President of Health, Wealth & Career, WTW, said: “Mark led our Work & Rewards business into a new era by building our tech capabilities and connecting data, advisory work and digital solutions powered by AI in differentiated ways for clients. Hazel will now add to that success with her own combination of expertise, business leadership and strong grasp of the profound changes our clients are facing.”
Mark Reid said: “I am delighted to be handing over this role to such a talented colleague. Having long worked with Hazel I know how capable she is to keep evolving our business to meet our clients’ needs.”
WTW releases next-generation U.S. Library models in RiskAgility Financial Modeler, delivering full VM-22 capability for life insurers
WTW announced the release of the next generation of its U.S. Library models within RiskAgility FM—a major upgrade that fully incorporates Valuation Manual 22 (VM-22) requirements for non-variable annuity products. The enhanced model suite equips insurers and reinsurers with a powerful, production-ready platform to meet the new VM-22 reserving framework with accuracy, speed, and transparency.
VM-22 reshapes statutory valuation for fixed annuities, fixed indexed annuities, structured settlements, and pension risk transfer (PRT) liabilities by introducing a market-aligned, principles-based approach. The updated RiskAgility FM U.S. Library models provide an end-to-end modeling environment that fully aligns with VM-22, enabling companies to navigate the transition with confidence.
The release builds upon WTW’s existing asset and liability modeling suite for U.S. statutory and generally accepted accounting principles (GAAP) valuation, delivering comprehensive VM-22 reserving capabilities, including:
– Enhanced asset–liability integration, supporting full investment modeling and key interactions required under VM-22- Efficient projection architecture, enabling distribution of both outer-loop (projection) and inner-loop (valuation) runs- Built-in support for VM-22 aggregation groups, portfolio-aligned investment strategies, and scenario-based reinvestment rules
Kim Steiner, North American Life Practice Leader, Insurance Consulting and Technology, WTW, said: “I’m excited to bring this next generation of RiskAgility FM models to the U.S. annuity market at such a pivotal moment. By delivering a complete VM-22-ready model suite, we’re giving insurers the ability to meet the new standard with precision and accelerate their transformation toward a more sophisticated, future-proof modeling framework.”
About RiskAgility Financial Modeler
RiskAgility FM is WTW’s actuarial modeling platform, built to support complex valuation, pricing, forecasting, and capital calculations at scale. RiskAgility FM combines an intuitive modeling environment with an integrated AI assistant for faster development. Powerful governance features include version control, workflow automation, audit trails, security permissions, and detailed change management. RiskAgility FM’s distributed computation engine dramatically improves performance, enabling insurers to run large stochastic and nested-stochastic workloads across cloud or on-premise infrastructure. The platform’s U.S. Library provides U.S.-focused liability models with integrated asset capabilities.
About Insurance Consulting and Technology
WTW’s Insurance Consulting and Technology business serves the insurance industry with a powerful combination of advisory services and leading-edge technology. Our mission is to innovate and transform insurance, and we deliver solutions that help clients select, finance, and manage risk and capital.
We work with clients of all sizes globally, including most of the world’s leading insurance groups. Over 1,000 client companies use our specialist insurance software on six continents. With over 1,700 colleagues in 35 markets, we continually strive to be a partner and employer of choice in the insurance industry.
WTW and Bettercomp announce strategic partnership
WTW, a leading global advisory, broking and solutions company, and Bettercomp, a market leader in compensation benchmarking software, announced a strategic partnership.
Through this partnership, WTW will combine its renowned compensation advisory expertise and compensation benchmarking reports with Bettercomp’s leading-edge technology to support the design and evaluation of pay structures. Clients will gain access to Bettercomp’s intuitive software, which integrates survey data from multiple sources and aligns it with advanced analytics and AI-driven automations to enable sound pay decisions.
WTW advises organizations on pay program design that aligns with both business objectives and talent strategies. Bettercomp codifies companies’ compensation philosophies to streamline benchmarking workflows and surface data-driven insights. The partnership will deliver enhanced flexibility, speed and scalability to support informed pay decisions for WTW and Bettercomp customers.
“Today’s HR professionals need intuitive technology, data and analytics to support decision making and navigate complex compensation programs,” said Mark Reid, Global Head of the Work & Rewards business at WTW. “Our strategic partnership will integrate Bettercomp’s market-leading software with WTW’s leading advisory services and benchmarking data, delivering better integration and faster innovation.”
“We created Bettercomp to manage the intricacies of global compensation at scale,” said Alan Miegel, co-founder and CEO of Bettercomp. “Partnering with WTW allows us to deliver that value to a wider audience and drives additional innovation for our mutual customers.”
WTW appoints Health & Benefits leader for North America
WTW, a leading global advisory, broking and solutions company, announced the appointment of Sheila Nordquist as Health and Benefits (H&B) leader for North America within its Health, Wealth & Career segment, effective January 12. Nordquist will work to develop and drive the growth strategy for the business in the region.
“We’re pleased to appoint Sheila as our North America leader,” said Anne Pullum, global leader, H&B. “With an innovative outlook on the market and a deep understanding of our business, she is well-positioned to drive growth while remaining dedicated to clients’ needs. Her focus on turning priorities into action will help us deliver the breakthroughs that matter.”
Nordquist joined the company in 2013 as a client advocate responsible for new business development. Since then, she’s held several leadership roles across the H&B business including North Central market leader and U.S. Growth co-leader. Most recently she served as the Midwest H&B region leader.
WTW announces strategic acquisition of FlowStone Partners, enhancing its Wealth offerings
WTW, a leading global advisory and solutions company, announced the acquisition of FlowStone Partners, LLC, an alternative investment firm with highly specialized expertise in private equity secondaries for individual wealth and institutional clients. This acquisition will expand innovative, high-quality access to private equity for individual wealth investors, while enhancing WTW’s ability to bring leading private markets investment capabilities and innovation to institutional clients.
“We are excited to expand the opportunity set for both institutional and individual wealth investors, pairing FlowStone’s seasoned expertise in secondaries investing with WTW’s global scale, sourcing network and research engine. The acquisition meaningfully expands WTW’s ability to serve clients’ evolving needs and deliver differentiated private market solutions. This is a bold venture in the future of private equity secondaries investing,” said Diya Luke, global head of Investments, WTW.
“By unlocking access to high-quality, private markets through liquid, accessible structures, this acquisition strengthens our ability to deliver best-in-class solutions for individual and institutional investors alike – helping more people achieve stronger long-term outcomes,” said Nimisha Srivastava, head of Investments, North America, WTW.
“Combining FlowStone’s deep expertise in private equity secondaries with WTW’s global scale in discretionary and non-discretionary investment management and retirement planning creates a powerful platform positioned to meet the evolving needs of investors across these growing markets. We’re excited to bring our experience, relationships, and proven track record to WTW’s expanding suite of alternative investment solutions,” said Scott Conners, President of FlowStone Partners.
“WTW’s deep investment research capabilities, advanced analytics, and commitment to innovation will help our investors stay ahead of the curve as new solutions expand access to the benefits of private markets,” added Michael Carrano, Managing Director and Investment Committee Member of FlowStone Partners.
The transaction is subject to the approval of the shareholders of FlowStone’s managed fund and the fund’s independent trustee board, as well as other customary closing conditions. We expect to complete these steps by early 2026.
Willis Global Aviation & Space sign joint MOU with NATS to deliver Risk & Resilience services to aviation stakeholders
Willis, a WTW business has partnered with NATS – a leader in air traffic control services – to deliver risk and resilience advisory services and bespoke solutions to global aviation stakeholders.
As part of the partnership, Willis and NATS have today signed a Memorandum of Understanding at the Dubai Airshow 2025, an event attended by representatives from government, aviation and aerospace companies.
Together, Willis and NATS will leverage their airspace and on-the-ground expertise to provide integrated risk and resilience solutions to aviation providers, to manage risk and strengthen resilience.
Tania Roca, Executive Director, Risk & Resilience Advisory at Willis Global Aviation & Space said, “Resilience in aviation is no longer a choice, it’s essential. Geopolitical shocks, cyber threats, climate disruptions, and supply chain volatility have become the norm in our industry. Through a holistic approach—from airspace to ground—we are designing resilience systems that don’t just recover from disruptions, they prepare stakeholders to meet global policy and regulatory developments, and provide assurance for human capital, investment, and long-term planning. I am so excited to be working with NATS with such a unique offering.”
Pamela Thomson-Hall, Head of International at Willis said: “This unique partnership, led by Tania, brings together our risk and resilience know-how with NATS’ world-class airspace capabilities to enhance innovation, safety and fortitude across the sector.”
“We’re delighted to join forces with Willis Global Aviation & Space” said Ben Kiff, Managing Director International, for NATS. “The combination of our operational expertise – built on decades of operating in some of the busiest and most complex aviation environments – and Willis’ deep understanding of risk and resilience, means we’re uniquely placed to support customers as the industry grows and evolves.”
WTW’s ICT appoints new Head of Personal and Commercial Lines Business Development in North America
WTW, a global advisory, broking and solutions company, has announced the appointment of Dale Porfilio as Senior Director and Head of Personal and Commercial Lines Business Development to its Insurance Consulting & Technology (ICT) business.
Porfilio most recently served as Chief Insurance Officer at the Insurance Information Institute and President of the Insurance Research Council. In these roles, he led the research and education activities of the Triple-I and IRC. Prior to this, Porfilio was Senior Vice President and Corporate Chief Actuary for Genworth Financial, where he oversaw the actuarial practice for all product lines and countries. Porfilio is also a fellow of the Casualty Actuarial Society and member of the American Academy of Actuaries.
Based in Chicago, Porfilio will be responsible for driving growth, market share and profitability in both personal and commercial insurance sectors. Key aspects of the role include building strong client relationships and identifying ways in which WTW’s technology and consulting services can help those clients drive better business and customer outcomes.
Laura Doddington, Head of Personal and Commercial Lines, North America, Insurance Consulting & Technology, WTW, said: “We are delighted that Dale has joined our team. He brings a proven track record and an outstanding reputation in the insurance industry. His deep knowledge of the specialist risks unique to the North American market, along with his understanding of the innovative solutions our clients are seeking, will be invaluable during this time of rapidly accelerating change.”
Dale Porfilio said: “I am excited to take on this role and look forward to working with one of the industry’s most talented insurance and technology teams. We are well placed to build on our strong track record in personal and commercial lines by harnessing WTW’s vast capability, unparalleled bench strength and cutting-edge technology capabilities. Our collaborative solutions will help our clients quickly adapt and transform their operations to take advantage of emerging opportunities for profitable growth.”
Willis launches $200m facility to tackle global geopolitical uncertainty for cargo owners
Willis, a WTW business, has launched ‘Undercover’, a new $200 million facility, combining coverage for a range of geopolitical exposures faced by cargo owners worldwide.
Developed by Willis in a joint proposition with specialist insurer, Markel, Undercover offers a unique approach to the risk transfer of cargo, war on land, terrorism, political violence and confiscation coverage, with sections of coverage selected based on the individual needs of the client. This single-facility approach minimizes coverage gaps and reduces the likelihood of claims disputes, as well as, removing the need to establish the motivation for a claim.
In challenging times of political instability, Undercover offers certainty of cover to cargo owners. It also provides protection from fluctuating insurance costs when country risk ratings change, as cargo cover is frequently provided on a global basis.
Ben Abraham, Global CEO, Willis Marine, said, “In a period of heightened geopolitical risk, cargo owners face enormous uncertainty in fast changing situations. This innovative solution is the first that offers a clear, comprehensive approach to cover, offering the maximum certainty exactly when it’s needed and when the worst happens.”
Brook Styles, Head of Cargo, Markel International said: “The transportation of goods is highly sensitive to geopolitical uncertainty, which has the potential to disrupt trade routes, increase operating costs and put pressure on the resilience of global supply chains. We’re therefore pleased to have launched this new product, which provides support to cargo owners by helping them navigate today’s complex geopolitical risk environment with added confidence, clarity and simplicity.”
WTW appoints Deputy Regional Leader to North America
Willis, a WTW business announced the appointmenDavid Lofstromt of as Deputy Regional Leader, New England within Corporate Risk and Broking (CRB) in North America.
Lofstrom’s new position includes working closely with the full New England team to identify new opportunities while also helping to accelerate growth throughout the region. Additionally, he will focus on delivering enhanced value to clients by collaborating with various Industry Vertical Division (IVD) leaders and subject matter experts, while strengthening WTW’s position as an industry leader.
Based in Boston and reporting directly to Ionel Rizea, Chief Commercial Officer for CRB North America, Lofstrom brings more than thirty years of industry experience. Lofstrom joins Willis from Gallagher, where he most recently served as Area President in the Greater Boston region. He was responsible for branch performance, including sales, carrier and partner management, business development, M&A sourcing and integration and reinforcing the company’s culture in the New England area.
Ionel Rizea commented, “I am thrilled to welcome Dave to the team. His experience – particularly in the sales and business development space, complements our growth strategy for North America. His background in both brokerage and [client] risk management aligns closely with our CRB objective of providing innovative solutions to clients. I look forward to working with Dave.”