Towers Watson - Press Releases

Insurers With More Developed ERM Programs Are Seeing a Return on Their Investment, According to Towers Watson Survey

Thu, 21 Feb 2013 00:00:00 GMT

According to a recent ERM insurance survey conducted by Towers Watson insurers experiencing the greatest incremental gains from their ERM techniques are also the furthest along in embedding ERM into their business.

Global pension fund assets hit record high in 2012

Wed, 20 Feb 2013 00:00:00 GMT

Global institutional pension fund assets in the 13 major markets grew by 9% during 2012 to reach a new high of US$30 trillion, according to Towers Watson’s Global Pension Assets Study released today.

Optimistic outlook among fund managers for 2013

Tue, 19 Feb 2013 00:00:00 GMT

Fund managers have turned more optimistic about the prospects for equity returns while remaining negative on world growth and medium-term government bonds, according to a global survey of investment managers conducted by professional services firm Towers Watson.

Enhanced annuity sales eclipse the £4 billion barrier

Mon, 18 Feb 2013 00:00:00 GMT

UK enhanced annuity sales rose to £4.48 billion in 2012, an increase of 49 per cent over 2011, according to research by Towers Watson.

Asset diversification accelerates

Wed, 13 Feb 2013 00:00:00 GMT

Institutional investors continue to diversify their investment portfolios into alternative assets, increasingly via direct funds rather than funds of funds according to global data from Towers Watson.

London market digs in for 'analytics arms race'

Mon, 11 Feb 2013 00:00:00 GMT

A vast majority (96%) of underwriters and actuaries in Lloyd’s and the London market accept that companies and syndicates face an ‘analytical arms race’.

Senior US casualty reinsurance recruits to join Towers Watson

Fri, 8 Feb 2013 00:00:00 GMT

Towers Watson has recruited Mark Higgins and Fraser Howard to cement its leading position in US casualty treaty reinsurance broking in the London market.

Towers Watson Strengthens U.S. Business with Hiring of Asghar Alam

Thu, 7 Feb 2013 00:00:00 GMT

Towers Watson has hired industry veteran Asghar Alam as a senior consultant in its growing Investment and Retirement businesses. In this role, Alam will help Towers Watson’s pension plan sponsor clients address retirement, finance and investment issues.

Life Insurers Assess Financial Modeling Trends in Towers Watson Survey

Wed, 6 Feb 2013 00:00:00 GMT

Chief financial officers (CFOs) from large and midsize life insurance companies agreed that financial modeling, an increasingly important tool for their business, remains a work in progress, according to a new survey by Towers Watson.

Fidelity® and Extend Health Partner to Help Retiring Employees Transition to Private Health Coverage

Tue, 5 Feb 2013 00:00:00 GMT

Fidelity Investments® and Extend Health, a Towers Watson company, today announced a strategic agreement to enhance Fidelity’s retirement guidance capabilities to include retiree health care.

Pension deficits grow despite stock market gains

Fri, 1 Feb 2013 00:00:00 GMT

The best monthly stock market performance since October 2011 was not enough to stop defined benefit pension deficits from increasing during January, according to Towers Watson, a leading global professional services company.

Towers Watson Announces OneExchange, a Health Benefit Solution for Full- and Part-Time Employees, and Pre-65 and Medicare Retirees

Thu, 31 Jan 2013 00:00:00 GMT

Towers Watson today announced the launch of OneExchange.

Sylvester Schieber, Retired Towers Watson Executive, Named 2012 Samuelson Award Winner by TIAA-CREF

Tue, 29 Jan 2013 00:00:00 GMT

Towers Watson has announced that Dr. Sylvester J. Schieber, a leading retirement expert who retired from the company in 2006 following a distinguished career, has been named winner of the 17th annual TIAA-CREF Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security.

Property & Casualty Insurers Reveal Progress With Predictive Modeling Implementation in Towers Watson Survey

Tue, 29 Jan 2013 00:00:00 GMT

Property & casualty (P&C) insurers acknowledged that the capture and transformation of data into useful information has turned into a critical differentiator of performance within the P&C insurance marketplace, according to a new survey by Towers Watson.

Towers Watson Capital Markets Closes on $61.2 Million Catastrophe Bond

Mon, 28 Jan 2013 00:00:00 GMT

Towers Watson Capital Markets (TWCM) Inc., a wholly owned subsidiary of Towers Watson, announced it has arranged a private placement catastrophe bond, Skyline Re 2013-1, which closed at $61.2 million and at the tight end of price guidance.

With-profits funds to be a focus of attention in 2013

Wed, 23 Jan 2013 00:00:00 GMT

Towers Watson believes 2013 could be the year where changes in the management of with-profits funds become a key priority.

With ORSA Regulatory Requirements Approaching, Property & Casualty Insurers See Its Value to Their Business

Tue, 22 Jan 2013 00:00:00 GMT

In a recent survey by Towers Watson, Chief Financial Officers (CFO) at leading P&C insurers addressed their companies’ eligibility and preparedness for the ORSA process and the potential impact ORSA may have.

Capital Markets' Transformation Signals Change in Investment Strategy for Pension Plans and Endowments

Fri, 18 Jan 2013 00:00:00 GMT

Towers Watson Survey of Economic Expectations predicts moderate growth for Canada and convergence with key U.S. economic indicators.

Late Surge in Asia M&As Lifts Global Total To 5-Year High In 4Q 2012

Thu, 17 Jan 2013 00:00:00 GMT

Towers Watson makes its top five predictions for the global M&A market in 2013

Towers Watson Launches Updated Version of ResQ Reserving Software

Wed, 16 Jan 2013 00:00:00 GMT

Towers Watson has released ResQ 3.7, an updated version of its ResQ reserving software for property and casualty (P&C) insurers.

Towers Watson 2013 HR Journalism Awards open for entries

Wed, 16 Jan 2013 00:00:00 GMT

The eighth annual Towers Watson Excellence in HR Journalism Awards are open for entry until the beginning of February.

Car insurance prices soar for young women

Wed, 16 Jan 2013 00:00:00 GMT

Young women drivers have begun to see the predicted impact of the implementation of the ban on using gender in pricing financial services products.

Last minute flurry of M&A deals sees 2012 end on a high

Tue, 15 Jan 2013 00:00:00 GMT

The last two weeks of 2012 saw an unprecedented number of M&A deals and contributed to the highest volume of completed deals globally (268) in one quarter since January 2008.

White Paper hints at slow increase in State Pension Age

Tue, 15 Jan 2013 00:00:00 GMT

The Government’s Pensions White Paper hints at a slower increase in the State Pension Age than might have been expected, according to Towers Watson, a leading global professional services company.

Towers Watson Announces Best-Selling Author Daniel Pink as Keynote Speaker at 2013 HR Service Delivery Forum

Wed, 9 Jan 2013 00:00:00 GMT

Towers Watson announced today that best-selling author Daniel Pink will deliver the keynote address at its 16th annual HR Service Delivery Forum to be held April 21 – 23, 2013, at the Paradise Point Resort and Spa in San Diego.

Towers Watson’s pension predictions for 2013

Mon, 7 Jan 2013 00:00:00 GMT

This year will be another challenging one for UK pensions professionals and their clients, according to Towers Watson. The firm believes there will be some key trends during 2013.

Market rally too late for pension numbers in company accounts

Thu, 3 Jan 2013 00:00:00 GMT

Yesterday’s market gains arrived fractionally too late for companies preparing to update investors on the health of their defined benefit pension schemes through their annual accounts, according to Towers Watson.

Corporate Pension Plan Funding Levels Declined Modestly in 2012 Keeping Most Plans Considerably Underfunded

Wed, 2 Jan 2013 00:00:00 GMT

Lower interest rates suppress funding despite strong asset returns, significant employer contributions; sponsors face intriguing funding strategy for 2013.

Asia opens up widest margin over Europe for M&A deals

Wed, 19 Dec 2012 00:00:00 GMT

In 2012 Asia-Pacific acquirers completed nearly 40 per cent more M&A deals than their European counterparts, according to Towers Watson’s Quarterly Deal Performance Monitor (“QDPM”), the largest margin since the research began in 2008.

Could new guidance on guarantees boost PPF coffers?

Tue, 18 Dec 2012 00:00:00 GMT

New guidance on using guarantees to reduce Pension Protection Fund levies could lead some trustees to understate how much their guarantees are worth, according to Towers Watson. If that were to happen, it might help the PPF raise more through levies than the £630 million it has targeted for 2013/14.

Malaysian women looking for more career advancement opportunities

Tue, 18 Dec 2012 00:00:00 GMT

Kuala Lumpur, 14 December 2012 – Despite an increase in the number of women in the Malaysian workforce over the last decade, the number of women at senior management level and board level is still low. Culturally in Asia, men are openly favoured for positions of power. Women rarely become successors of family-owned businesses or CEOs in Asian organisations. According to the findings of the Towers Watson 2012 Global Workforce Study (GWS) released recently, 65% of employees at senior managerial / senior executive levels surveyed in Malaysia indicated that their current senior management is doing a fair to poor job in developing new leaders in their organisation.

Rexam Pension Plan appoints Towers Watson as Scheme Actuary

Mon, 17 Dec 2012 00:00:00 GMT

The Trustee of the Rexam Pension Plan has appointed Towers Watson as Scheme Actuary to the £1.8 billion scheme, following a competitive tender process. Colin Singer, who is one of Towers Watson’s most senior actuaries, will fill the Scheme Actuary role. The scheme has around 23,000 members and is sponsored by Rexam, a leading global consumer packaging company.

Commercial Insurance Prices Continue to Rise, Carriers' Loss Ratios Improve

Mon, 10 Dec 2012 00:00:00 GMT

This marked the seventh consecutive quarter that aggregate prices for all commercial lines rose, according to the new Commercial Lines Insurance Pricing Survey (CLIPS).

Towers Watson "DC Pension Index" Shows Prospect of "Freedom Sixty-Eight" Increases Focus on Personal Finances

Thu, 6 Dec 2012 00:00:00 GMT

Index Tracks Impact of Market Forces on Retirement Age

Towers Watson’s round-up of the key points to hit pensions in the Autumn Statement

Wed, 5 Dec 2012 00:00:00 GMT

Here is Towers Watson’s round-up of the key points to hit pensions in the Autumn Statement

Biggest pay rises reserved for experienced professionals in 2012

Tue, 4 Dec 2012 00:00:00 GMT

Watson research shows real-term pay cuts for many UK workers while salaries grow elsewhere.

Towers Watson launches smart phone app that enables super funds to connect with members

Sun, 2 Dec 2012 00:00:00 GMT

Sydney, 04 December 2012 – Australian superannuation funds can now access a powerful interactive tool that will revolutionise the way they communicate with their members. Global professional services company Towers Watson (NYSE, NASDAQ: TW) has launched TrackMySuper, a smart phone app that allows funds to send and members to request targeted, individual information through the phone.

Towers Watson Releases New, Fast and Powerful Predictive Modeling Software for Pricing

Thu, 29 Nov 2012 00:00:00 GMT

Towers Watson announced the release of its Emblem 4.3 pricing software, which is distinguished by considerable speed improvements, performing 20% faster than the previous version.

Emblem speed improvements help telematics analysis

Wed, 28 Nov 2012 00:00:00 GMT

Considerable processing speed improvements in the latest ‘XE’ version of its Emblem pricing software, which was released today, will be of particular help to property and casualty insurers developing telematics products, according to global professional services company Towers Watson.

Towers Watson's U.S. Insurance Brokerage Business Named Most Productive

Mon, 26 Nov 2012 00:00:00 GMT

Business Insurance, one of the foremost and most authoritative media voices reporting on the insurance markets, has recognized Towers Watson as the most productive agent/broker of U.S. business.

Towers Watson welcomes DWP’s ambitious proposals

Fri, 23 Nov 2012 00:00:00 GMT

Towers Watson highlights two main themes in response to the DWP’s proposals around “defined ambition” pensions, the first being to make Defined Benefit (DB) schemes cheaper and less risky for employers by removing compulsory benefits and guarantees.

UK plc shares suppressed by too much risk in the pension fund

Thu, 22 Nov 2012 00:00:00 GMT

Research by global professional services company Towers Watson shows high risk in UK pension schemes is an important factor in suppressing the price / earnings ratios of their sponsoring companies.

Alessandra Pasquoni to lead Towers Watson’s Investment business in Italy

Thu, 22 Nov 2012 00:00:00 GMT

Towers Watson, a leading global professional services company, has appointed Alessandra Pasquoni to lead its growing Investment business in Italy. She joined the company in October and will work in the Milan and Rome offices.

New Research Shows That Prevention Is Key To Reducing Health Care Costs For All Employees, Even Those With Chronic Conditions

Mon, 19 Nov 2012 00:00:00 GMT

A recent study from StayWell Health Management and Towers Watson demonstrates that cost savings associated with health risk reduction begin accumulating in as little as one year, particularly for those with chronic conditions.

Towers Watson continues to expand its Defined Contribution consulting team

Mon, 19 Nov 2012 00:00:00 GMT

Towers Watson has announced two senior appointments to its North of England and Scotland Defined Contribution consulting team, which reflects growing demand for the firm’s services in this area in the UK’s Northern region, and is consistent with client demand elsewhere.

Burnt-out Britain: One-in-three employees face excessive pressure at work

Mon, 19 Nov 2012 00:00:00 GMT

Britain’s workforce is heading for a well-being meltdown, according to research from global professional services firm, Towers Watson. The Global Workforce Study (GWS), which surveyed 32,000 employees worldwide, reveals that more than one in three UK employees (34 per cent) say they are often affected by excessive pressure in their job.

Towers Watson Announces a National Pharmacy Alliance with Loblaw

Tue, 13 Nov 2012 00:00:00 GMT

Ground-breaking agreement expected to help employers manage drug plan costs while supporting employee well-being

Towers Watson hires Andrew Curcio for UK executive compensation team

Tue, 13 Nov 2012 00:00:00 GMT

Global professional services company Towers Watson has taken further steps to strengthen its executive compensation team in London by recruiting Andrew Curcio as a Senior Consultant.

Lisa Stay joins Towers Watson’s International Consulting Group

Mon, 12 Nov 2012 00:00:00 GMT

Towers Watson has further strengthened its International Consulting Group in London by appointing benefits financing specialist Lisa Stay.

Jay Vadiveloo Is Recognized for Discovering and Designing the Replicated Stratified Sampling 'Smart Modeling' Technique

Mon, 12 Nov 2012 00:00:00 GMT

Jay Vadiveloo, a senior consultant with Towers Watson professor and director of the Goldenson Actuarial Research Center at the University of Connecticut, has been selected recipient of Risk & Insurance’s Risk Innovator™ award for 2012.

Despite Strong Say-on-Pay Shareholder Support, Many U.S. Companies Continue to Sharpen Their Focus on Pay for Performance, Towers Watson Survey Finds

Thu, 8 Nov 2012 00:00:00 GMT

Though most U.S. public companies received strong shareholder support for their executive compensation programs during the most recent proxy season, a new survey by Towers Watson reveals that almost half of the respondents either have made or will make program changes to strengthen the link between pay and performance in advance of the 2013 proxy season.

Career moves and pension tax changes create pensions minefield for employees

Thu, 8 Nov 2012 00:00:00 GMT

Pension tax changes, increased flexibility at retirement, and the fact that fewer individuals complete their career with one employer, have conspired to make it difficult for employees to keep track of their overall pension position, according to global professional services company Towers Watson.

Schemes continue to close, asset allocations moving towards bonds, large buyout deficits

Wed, 7 Nov 2012 00:00:00 GMT

The Pensions Regulator and Pension Protection Fund have today published the latest edition of their annual Purple Book, which provides statistics about the predominantly private sector defined benefit pension schemes whose members would be eligible for PPF compensation if the employer became insolvent. Some of the key points are highlighted below, along with Towers Watson comment.

Towers Watson Completes Acquisition of DaVinci Consulting

Mon, 5 Nov 2012 00:00:00 GMT

Towers Watson today announced the completion of its acquisition of DaVinci Consulting Group, a boutique actuarial consulting firm that specializes in the long-term care insurance market.

Annual motor insurance rate decreases exceed 10%

Mon, 5 Nov 2012 00:00:00 GMT

Car insurance prices available through price comparison sites, and particularly those for younger drivers, dropped more steeply in the third quarter of 2012 than previously estimated.The downward price movements were the biggest seen in any quarter since the launch of the Confused.com/Towers Watson Car Insurance Price Index in 2007.

Top investment managers lose assets

Tue, 30 Oct 2012 00:00:00 GMT

Assets managed by the world’s largest 500 fund managers fell by around 3% to US$63 trillion in 2011, breaking a trend of the last two years which had seen assets rise by 16% and 4% in 2009 and 2010 respectively.

Australian investment managers power up the global 500 rankings

Tue, 30 Oct 2012 00:00:00 GMT

Sydney, 31 October 2012 – Latest research from the Pensions & Investments / Towers Watson World 500 shows Australian investment managers have once again grown strongly. With 23 Australian investment managers now in the global rankings, these managers have an aggregate level of funds under management in excess of US$ 1 trillion for the first time. In contrast, global investment managers experienced a decline in their funds under management to a level below the US$64 trillion recorded in 2006.

Quantitative Easing not an excuse for inactivity

Mon, 29 Oct 2012 00:00:00 GMT

The overall impact of Quantitative Easing (QE) on pension funds has been exaggerated according to global professional services company Towers Watson. It suggests that since the start of the credit crisis in 2007, UK index-linked gilt (ILG) yields have declined only marginally more than comparable government bond yields in other countries, where there has been no QE.

Towers Watson Publishes Third Older Age Mortality Study for Life Insurers; $8.2 Trillion Face Amount of Exposure Over Five-Year Study Period

Thu, 25 Oct 2012 00:00:00 GMT

Global professional services company Towers Watson announced the release of The Older Age Mortality Study 3 (TOAMS 3), the company’s third study of U.S. life insurance industry mortality.

Compensation for Corporate Directors Increased Modestly in 2011, Towers Watson Analysis Finds

Tue, 23 Oct 2012 00:00:00 GMT

For the second consecutive year, compensation for outside directors at the nation’s largest corporations has increased moderately, an indication that pay for outside directors has returned to an environment of regular, modest pay increases not seen since before the economic crisis, according to an annual analysis by Towers Watson.

Pension pessimism as half of UK workers resigned to retiring later says Towers Watson

Tue, 23 Oct 2012 00:00:00 GMT

Over half (52%) of British employees are worried about their future financial state amidst concerns over their ability to retire with a sufficient income, according to research from global professional services firm, Towers Watson.

Seven in 10 Large U.S. Companies Now Offer Only 401(k) Retirement Plans to New Salaried Employees, Towers Watson Analysis Finds

Wed, 17 Oct 2012 00:00:00 GMT

The number of large U.S. companies offering new salaried employees only a defined contribution (DC) plan, such as a 401(k) plan, continued to increase this year, according to an annual analysis by Towers Watson.

UK pension funds risk 30-year wait for gilts

Tue, 16 Oct 2012 00:00:00 GMT

On current trends it will be around 2040 before UK private-sector defined benefit (DB) pension schemes can fully de-risk unless they consider alternative strategies, according to global professional services company Towers Watson.

Towers Watson Takes Steps to Enhance Long-Term Care Insurance Capabilities

Mon, 15 Oct 2012 00:00:00 GMT

Towers Watson announced today that it plans to acquire the business of the DaVinci Consulting Group, a boutique actuarial consulting firm that specializes in the long-term care insurance market, on or about November 1, 2012.

The Willis Pension Scheme chooses Towers Watson for hedge funds

Mon, 8 Oct 2012 00:00:00 GMT

The Trustees of the £1.5 billion Willis Pension Scheme have chosen Towers Watson to manage a large portion of its hedge fund portfolio on a fiduciary basis, following a competitive tender. The portfolio, which will have an initial value of around £100 million, will be invested in a broad range of hedge fund strategies.

Employers Expressing Doubt in Retirement Readiness of 401(k) Plan Participants, Towers Watson Survey Finds

Thu, 4 Oct 2012 00:00:00 GMT

Despite successful efforts to increase employee participation and deferral rates in 401(k) and other defined contribution (DC) plans, a vast majority of U.S. employers lack confidence in the retirement readiness of their employees, according to a new survey by Towers Watson.

Towers Watson Named "Best Global Consultancy Firm" of the Year by Reactions

Thu, 4 Oct 2012 00:00:00 GMT

Reactions, a global insurance market magazine that covers the entire risk transfer spectrum, has named Towers Watson the Best Global Consultancy Firm of the year.

2013 Open Enrollment Season Foreshadows Significant Structural Changes in 2014 and Beyond, According to Towers Watson Experts

Tue, 2 Oct 2012 00:00:00 GMT

With mounting cost pressures, health care reform, the emergence of new network configurations and the rapid development of new health care delivery models, employees can expect significant change in 2014 and beyond, according to experts at Towers Watson.

NACD Honors Towers Watson Lead Outside Director Linda Rabbitt

Mon, 1 Oct 2012 00:00:00 GMT

Global professional services company Towers Watson today announced that Linda D. Rabbitt, the company’s lead director on its board of directors, has been recognized by the National Association of Corporate Directors (NACD) for exceptional performance by directors in the boardroom.

Towers Watson Introduces Life Insurance Financial Modeling on a Cloud Computing Grid

Thu, 27 Sep 2012 00:00:00 GMT

Towers Watson has launched MoSes Azure, a new software integration product that enables life insurers to run MoSes financial models in Microsoft Windows Azure Cloud Services.

Auto-enrolment: Restrictions not the main barrier to using NEST

Wed, 26 Sep 2012 00:00:00 GMT

The most common reason for companies not wishing to use the National Employment Savings Trust (NEST) to provide pensions under automatic enrolment is a belief that their own scheme can be more easily branded as a valuable employee benefit, according to employers who attended a Towers Watson seminar.

Towers Watson Releases Next-Generation Pricing Decision Support Software

Wed, 26 Sep 2012 00:00:00 GMT

Towers Watson has announced the release of the Towers Watson Radar™ software platform, which provides accessible and powerful management information and pricing decision support for property & casualty (P&C) pricing and underwriting teams.

Towers Watson Extends Partnership Agreement with Microsoft

Tue, 25 Sep 2012 00:00:00 GMT

Towers Watson has signed an alliance agreement with Microsoft to adapt some of its software applications for the Microsoft Windows Azure platform.

Towers Watson expands relationship with Microsoft

Tue, 25 Sep 2012 00:00:00 GMT

Global professional services company Towers Watson has expanded their alliance with Microsoft Corp. to adapt some of its software applications for the Windows Azure platform.

Australia facing a talent deficit by 2021

Tue, 25 Sep 2012 00:00:00 GMT

Sydney, 26 September 2012 — Australian companies may find it harder to hold on to their skilled employees over the next decade, according to Global Talent 2021, a detailed research study conducted by Oxford Economics in partnership with Towers Watson (NYSE, NASDAQ: TW), a professional services company.

US acquirers lag behind Asia-Pacific and European peers

Mon, 24 Sep 2012 00:00:00 GMT

Asia-Pacific acquirers emerged as the top-performing region on a three-year rolling basis, continuing to outperform their MSCI index by 5.8 percentage points (pp), according to Towers Watson’s Quarterly Deal Performance Monitor (QDPM) in partnership with Cass Business School.

Property & Casualty Insurers Benefit From Investment Activity in the Claim Function

Thu, 20 Sep 2012 00:00:00 GMT

Chief claim officers (CCOs) with leading property & casualty insurers concur that their companies are benefiting from metrics currently in place tied to best practice fundamentals for claim management.

MDS and Towers Watson sign joint venture agreement

Wed, 19 Sep 2012 00:00:00 GMT

Towers Watson, a global professional services company, and Broker MDS have combined forces to establish a benefits brokerage consulting service in Portugal.

Companies Worldwide Struggle to Attract and Retain Critical-Skill and High Potential Employees

Wed, 19 Sep 2012 00:00:00 GMT

A vast majority of companies worldwide, including a growing number of Canadian companies, continue to struggle with attracting and retaining the high-potential and critically-skilled employees necessary to increase their global competitiveness, according to a new survey conducted by global professional services company Towers Watson (NYSE, NASDAQ: TW).

Companies Worldwide Struggle to Attract and Retain Critical-Skill and High-Potential Employees, Towers Watson Survey Finds

Wed, 19 Sep 2012 00:00:00 GMT

A vast majority of companies worldwide, including a growing number of U.S. companies, continues to struggle with attracting and retaining the high-potential and critical-skill employees necessary to increase their global competitiveness, according to a new survey conducted by Towers Watson and WorldatWork, an international association of human resource professionals.

Organisations Face a Huge Retention Risk with Nearly Two-thirds of the Indonesian Workforce Not Highly Engaged

Wed, 19 Sep 2012 00:00:00 GMT

Jakarta, September 18, 2012 – With strong business growth in Indonesia giving rise to increased competition for the best talent, employers in Indonesia should focus their efforts on improving employee engagement and communicating the value of total rewards to employees as a means to reduce retention risks, according to a survey conducted by global professional services company Towers Watson (NYSE, NASDAQ: TW).

Towers Watson Appoints Robert Mustich East Division Leader for Executive Compensation

Tue, 18 Sep 2012 00:00:00 GMT

Towers Watson has appointed Robert Mustich as the east division leader for Towers Watson’s Executive Compensation consulting practice.

Getting ahead of Annual Allowance charges

Tue, 18 Sep 2012 00:00:00 GMT

With the holiday season behind us, many individuals will now turn their minds to the much less appetising matter of completing their annual Tax Return. For some this will, for the first time, have the added complexity of including information relating to an ‘Annual Allowance charge’ – the tax that falls due when pension savings exceed a recently reduced threshold.

Property & Casualty Insurers Say a Delicate Balance Is Essential for Targeting Higher Returns and Maintaining Suitable Levels of Risk

Mon, 17 Sep 2012 00:00:00 GMT

Property & Casualty (P&C) insurers say that principal preservation and total return are the most important objectives of their companies’ portfolio management, yet when asked about their satisfaction level with these two investment goals, their responses diverged.

Towers Watson Appoints Kirkland L. Hicks General Counsel

Thu, 13 Sep 2012 00:00:00 GMT

Towers Watson today announced that it has appointed Kirkland L. Hicks as its new general counsel, effective November 1, 2012.

Companies plan for how eurozone split would affect their business…but not their pension scheme

Thu, 13 Sep 2012 00:00:00 GMT

Many companies are developing a eurozone break-up plan for their business but not for their pension scheme, according to a Towers Watson survey of corporate treasurers at an Association of Corporate Treasurers breakfast briefing.

Cash continues to outstrip company cars as most popular benefit

Thu, 13 Sep 2012 00:00:00 GMT

The popularity of company car and car allowance schemes continues to grow according to a new report from Towers Watson, a global professional services company. The Company Car Benefits Survey 2012 shows that in the UK almost 80% of managerial staff remain eligible for car benefits and that companies are far more likely to offer employees the choice between cash and a car, or only offer a cash allowance, than they are to offer only the option of a car.

The rewards of investing sustainably

Wed, 12 Sep 2012 00:00:00 GMT

Asset owners, asset managers, consultants and governments are struggling with what it means to be a sustainable investor with many finding the practical implications and applications of sustainability off-putting according to Towers Watson research.

Less than half of workers ‘have faith’ in their senior team

Tue, 11 Sep 2012 00:00:00 GMT

British workers are losing confidence in senior management, according to research from global professional services firm, Towers Watson. Part two of The Global Workforce Study, which focuses on leadership and employee confidence, found that just over half of workers (51%) believe the information they receive from their senior team and only 44% have confidence that the leadership team is able to improve business performance.

Aggregate Commercial Insurance Price Increase Largest in Last Eight Years, Says Towers Watson Survey

Mon, 10 Sep 2012 00:00:00 GMT

Commercial insurance prices in aggregate increased by 6% during the second quarter of 2012 -- the sixth consecutive quarter aggregate prices rose for all commercial lines, according to the new Commercial Lines Insurance Pricing Survey (CLIPS), conducted by Towers Watson.

Towers Watson Launches Crisis Management Team With Two Senior Hires

Mon, 10 Sep 2012 00:00:00 GMT

Towers Watson has entered the crisis management market with the appointments of Christof Bentele and Chris Holt.

James Hole to Lead Strategic Growth Efforts for Towers Watson Brokerage Business

Thu, 6 Sep 2012 00:00:00 GMT

Global professional services company Towers Watson has announced that James W.B. Hole will lead the company’s strategic growth efforts for its global insurance and reinsurance brokerage business.

Towers Watson Enhances its Talent Management Processes Capabilities with Latest Release of Talent|REWARD® Software Solution

Thu, 6 Sep 2012 00:00:00 GMT

Towers Watson today announced the release of Talent|REWARD v7.2, the newest version of the company’s flagship software solution that helps organizations deliver comprehensive talent management and reward programs.

Active Investment Managers Can Excel Despite Constrained Corporate Bond Liquidity, Towers Watson Investment Services Suggests

Thu, 6 Sep 2012 00:00:00 GMT

Despite continued constrained corporate bond liquidity, active fixed-income managers can thrive, according to investment experts at Towers Watson, a global professional services company.

Growth slows for largest pension funds

Wed, 5 Sep 2012 00:00:00 GMT

Total assets of the world’s largest 300 pension funds grew by under 2% in 2011 (11% in 2010) to reach a new high of US$12.7 trillion, according to Pensions & Investments and Towers Watson research.

Validation leads life insurer concerns in Solvency II model calibration survey

Tue, 4 Sep 2012 00:00:00 GMT

A Towers Watson survey of the risk calibrations applied to Solvency II internal models in development by UK life insurers has shown that many companies regard themselves as still having considerable work to do to validate and document risk measures.

Survey shows men more tuned in to telematics

Mon, 3 Sep 2012 00:00:00 GMT

Men appear to be showing greater enthusiasm than women about the benefits of having a telematics device fitted in their cars to monitor driving behaviour and set insurance premiums, consumer research commissioned by professional services company, Towers Watson, has shown. This is despite an expected rise in car insurance prices for many women when a European Court of Justice ban on insurers’ using gender to assess risk comes into effect at the end of the year.

Quarterly enhanced annuity sales break the billion pound barrier

Thu, 30 Aug 2012 00:00:00 GMT

Quarterly enhanced annuity sales broke the billion pound barrier for the first time in the second quarter of 2012, according to research by Towers Watson. First half sales were £1.99 billion in total, an increase of 39% over the corresponding period in 2011.

Towers Watson, Hughes Telematics, Inc. Form Strategic Alliance to Offer Comprehensive Data Services for Usage-Based Automobile Insurance

Tue, 28 Aug 2012 00:00:00 GMT

Towers Watson, a global professional services company, and Hughes Telematics, Inc. (HTI), a Verizon company providing next-generation connected solutions, announced today they have formed a strategic alliance to provide personal line U.S. auto insurers with comprehensive data services for usage-based insurance (UBI) programs.

Towers Watson Projects Employer Health Care Costs Will Increase 5.3% in 2013

Mon, 27 Aug 2012 00:00:00 GMT

The 2012 Towers Watson Health Care Changes Ahead survey focuses on health care benefit decisions employers plan to make in reaction to the Supreme Court decision announcing the constitutionality of PPACA on June 28, 2012.

Singapore Employees Less Engaged and More Likely to Leave Current Employers than Global Peers

Sun, 26 Aug 2012 00:00:00 GMT

Singapore, Aug 24, 2012 – In the midst of subdued global economic conditions and a more cautious outlook for growth, employees in Singapore are found to be less engaged and less loyal to their employers, according to the 2012 Global Workforce Study (GWS 2012) by global professional services firm Towers Watson (NYSE, NASDAQ: TW), which surveyed approximately 1,000 employees in Singapore.

Moderate Pay Raises on Tap for U.S. Workers, Towers Watson Survey Finds

Fri, 24 Aug 2012 00:00:00 GMT

As the global economy continues to waver, U.S. employers are projecting moderate pay raises for employees next year as part of an ongoing effort to closely manage costs according to new survey data from Towers Watson.

Trust-based schemes do disclose charges, Towers Watson tells ABI

Fri, 24 Aug 2012 00:00:00 GMT

Towers Watson says the Association of British Insurers was wrong to claim that that trust-based defined contribution pension schemes do not disclose charges to scheme members.

More Employers Planning to Change HR Structure to Improve Delivery of Services, Towers Watson Survey Finds

Thu, 23 Aug 2012 00:00:00 GMT

Facing growing pressures to deliver HR services more efficiently and effectively, an increasing number of global organizations expect to change the structure of their HR functions within the next couple of years, according to an annual survey conducted by Towers Watson.

Towers Watson boosts client consulting and research expertise with two new hires

Wed, 15 Aug 2012 00:00:00 GMT

Sydney, 13 August 2012 – Leading global consultant Towers Watson has appointed Nick Kelly as an investment consultant focusing on client consulting and Matthew Conacher as an investment research analyst in the Australian Equities Manager Research team.

Towers Watson Strengthens Investment Services Team in Americas

Thu, 2 Aug 2012 00:00:00 GMT

Towers Watson announced today that industry veteran Doug Vander Linde has joined the U.S. investment services team as director, solutions and business development, Americas. Vander Linde will be based in Towers Watson’s Chicago office.

Swiss Re prepares life models for Solvency II

Wed, 1 Aug 2012 00:00:00 GMT

Swiss Re has enhanced its life insurance modelling platform with the addition of Towers Watson’s RiskAgility™ software, as part of its longer-term governance agenda and the Solvency II internal model approval process.

Paying money into pension schemes could make deficits bigger under proposed EU rules

Wed, 1 Aug 2012 00:00:00 GMT

The design of an official study into the consequences of applying proposed EU-wide pension funding rules is not fit for purpose, according to Towers Watson.

UK is most competitive in Western Europe for employer costs

Wed, 1 Aug 2012 00:00:00 GMT

Employers in the UK have the lowest cost per employee per annum anywhere in Western Europe, according to Towers Watson’s annual Global 50 Remuneration Planning Report. According to the research, the mandatory costs and taxes associated with employing people in each country shows the UK to be particularly favourable to business while France was found to have the highest costs for employers operating in Western Europe.

Employers Look to Expand Onsite Health Centers Services, Towers Watson Survey Finds

Tue, 31 Jul 2012 00:00:00 GMT

The Towers Watson 2012 Onsite Health Center Survey looks at 74 large employers that have established or are planning to establish onsite health facilities.

Keith Harrison takes European Brokerage role at Towers Watson

Thu, 26 Jul 2012 00:00:00 GMT

Towers Watson has appointed Keith Harrison to head up its (re)insurance brokerage business in the Europe, Middle East and Africa (EMEA) region, following the appointment of his predecessor, Ross Howard, as the global leader of its brokerage business, effective October 1.

Despite Cost Pressures, Multinationals Plan to Increase International Assignments in the Next Two Years

Mon, 23 Jul 2012 00:00:00 GMT

Although the majority of multinationals anticipate major global mobility challenges over the next two to three years, a new survey from Towers Watson and Worldwide ERC®, the workforce mobility association, has found that nearly half of multinationals expect to increase traditional international assignments over the same period.

Companies Facing a Global Shift in the Supply and Demand of Talent

Wed, 18 Jul 2012 00:00:00 GMT

Businesses around the world are currently experiencing a profound market shift that will impact the supply and demand for skilled talent over the next decade, according to a detailed research study conducted by Oxford Economics in partnership with Towers Watson, along with American Express, BAT, the Center for Effective Organizations at the University of Southern California, Cummins, Edison International and others, and in collaboration with the Organization of American States.

Car insurance prices continue to fall

Mon, 16 Jul 2012 00:00:00 GMT

The average cost of comprehensive car insurance has fallen by nearly £50 so far in 2012 according to the latest edition of the Confused.com/Towers Watson Car Insurance Price Index. The cost of comprehensive cover fell by 2.3% between April and June to an average of £797, a drop of 7.1% compared to 12 months ago. Third party, fire and theft (TPFT) premiums also fell in the second quarter, although at a slower rate of 0.8%, to an average of £1,149.

Towers Watson appoints Ross Howard as Global Brokerage Leader

Thu, 12 Jul 2012 00:00:00 GMT

Global professional services company Towers Watson has appointed Ross Howard as global leader for its insurance and reinsurance brokerage business, effective from October 1, 2012.

Most U.S. Workers Not Fully Engaged, Struggling to Cope with Tough Workplace Situations, Towers Watson’s Global Workforce Study Finds

Wed, 11 Jul 2012 00:00:00 GMT

As doubts reemerge about the strength of economic recovery in the U.S., a new Global Workforce Study by Towers Watson reveals that almost two-thirds (63%) of U.S. workers are not fully engaged in their work and are struggling to cope with work situations that don’t provide sufficient support.

Employers face big PPF levy increases next year - will PPF rethink levy formula?

Wed, 11 Jul 2012 00:00:00 GMT

Towers Watson is warning employers that low gilt yields could lead to big increases in the levies they pay to the Pension Protection Fund in 2013/14.

Global study warns of ‘Standstill Britain’ as workers and businesses hit ambition ceiling

Wed, 11 Jul 2012 00:00:00 GMT

Britain’s workforce faces a heightened global competitive risk as businesses and employees have reached a standstill, with creativity and career advancement taking a back seat, according to new research from Towers Watson, a leading global professional services company.

Top 100 alternative investment managers exceed$3 trillion AuM

Mon, 9 Jul 2012 00:00:00 GMT

Assets managed by the Top 100 alternative investment managers globally now exceed $3 trillion according to research produced by Towers Watson and published in conjunction with the Financial Times.

Towers Watson “DB Pension Index” Shows Defined Benefit Pension Plans Remain a Financial Challenge: Plan Sponsors Explore New Ways to De-risk While Boosting Returns

Thu, 5 Jul 2012 00:00:00 GMT

Pension Index Tracks Impact of Stock Markets and Interest Rates on Financial Health of Defined Benefit Pension Plans

Towers Watson wins major National Grid HR technology contract

Tue, 3 Jul 2012 00:00:00 GMT

Towers Watson has been selected by National Grid to implement both Talent Management and Workforce Planning solutions globally for up to 30,000 employees. The Talent|REWARD software will provide a full range of HR technology services designed to help National Grid manage talent and compensation planning more effectively.

Medical Costs Continue to Rise at Double-Digit Levels Around the World, Towers Watson Survey Finds

Mon, 2 Jul 2012 00:00:00 GMT

The cost of providing employee medical benefits continues to escalate at double-digit levels around the globe, although some regions are seeing cost increases beginning to stabilize, according to a new survey from Towers Watson, a global professional services company.

Towers Watson Capital Markets Closes on $22.78 Million Catastrophe Bond

Thu, 28 Jun 2012 00:00:00 GMT

Towers Watson Capital Markets (TWCM), Inc., the wholly owned subsidiary of global professional services company Towers Watson (NYSE, NASDAQ: TW), announced it has recently arranged a private placement catastrophe bond, Oak Leaf Re 2012-1, which closed at $22.78 million.

European M&A market continues to reward acquirers

Mon, 25 Jun 2012 00:00:00 GMT

Second-quarter figures from Towers Watson’s Quarterly Deal Performance Monitor, which presents data on all deals with a value of at least $100 million completed in the quarter, demonstrate that acquirers within both European and Asia-Pacific markets have continued to outperform their respective regional MSCI indices, based on year-to-date figures for the quarter.

Towers Watson Survey Reveals Low Interest Rate Environment Weighing Heavily on Life Insurers’ Books of Business

Wed, 20 Jun 2012 00:00:00 GMT

According to data from a recent survey from global professional services company Towers Watson, Life Insurance CFO Survey: Low Interest Rate Environment, life insurance CFOs said the current low interest rate environment is their primary business concern, as almost half (45%) of the survey respondents emphasized that a prolonged low interest rate environment is the greatest threat to their business.

Towers Watson Appoints Brian Makuck Leader of International Consulting for U.S. East and Canada

Wed, 20 Jun 2012 00:00:00 GMT

Towers Watson today announced that Brian Makuck, FSA, has joined the company in a leadership position with its International Consulting Group.

Companies That Successfully Retain Top Talent in M&As Start Early, Use Monetary and Nonmonetary Tactics, Towers Watson Survey Finds

Tue, 19 Jun 2012 00:00:00 GMT

While the vast majority of companies involved in mergers and acquisitions (M&As) use retention agreements to retain key talent, a new survey by Towers Watson shows that companies that are more successful at retention begin the process early — identifying people and tactics — and don’t rely solely on money.

PPO awards require shake-up of investment priorities

Mon, 18 Jun 2012 00:00:00 GMT

Non-life insurers seeking an investment ‘silver bullet’ to offset the potential liabilities accumulating from the growing number of periodical payment order (PPO) settlements in the UK are likely to be sorely disappointed, Towers Watson has concluded in a new research paper.

Pay Regulation Prompting Financial Services Companies to Sharpen Their Focus on Talent, Towers Watson Poll Finds

Mon, 18 Jun 2012 00:00:00 GMT

New compensation regulations adopted in the United States, United Kingdom and other countries following the financial crisis are causing global financial services companies to focus on talent management, and on rewards beyond pay to help them attract, retain and engage top talent in today’s environment, according to a poll of financial services executives conducted by Towers Watson.

Towers Watson proposes new direction for EU Pensions Directive overhaul

Thu, 14 Jun 2012 00:00:00 GMT

Towers Watson has written to the European Commission suggesting how the Commission could design a system of pension funding rules that more closely resembles the Solvency II regime used for insurers but which does not significantly increase funding and compliance costs for employers with defined benefit liabilities.

Towers Watson Expands Australian Investment Manager Research Team

Wed, 13 Jun 2012 00:00:00 GMT

Sydney, 15 June 2012 – Leading global consultant Towers Watson has appointed Ben Trollip as an investment research consultant in its growing Australian Investment business. Trollip, who holds a Bachelor of Science (Mathematics and Statistics) from the University of Auckland, joins the Australian Fixed Interest Manager Research Team from Melville Jessup Weaver* where he worked from 2004.

Towers Watson Strengthens Private Market Research Team

Wed, 13 Jun 2012 00:00:00 GMT

Towers Watson has appointed Bradley Morrow and Peter Rogers in its growing private market research team.

Towers Watson Survey Reveals Rising Commercial Insurance Prices for Fifth Consecutive Quarter

Mon, 11 Jun 2012 00:00:00 GMT

Commercial insurance prices in aggregate increased by nearly 5% during the first quarter of 2012 the fifth consecutive quarter that prices rose for all standard commercial lines according to the most recent Commercial Lines Insurance Pricing Survey (CLIPS).

Employers should welcome new Code on pension transfer incentives and pension increase exchanges

Fri, 8 Jun 2012 00:00:00 GMT

Towers Watson expects companies to welcome a new Code of Good Practice for Enhanced Transfer Value (ETV) and Pension Increase Exchange (PIE) exercises and believes it will put them back on the agenda in UK boardrooms as well as helping to ensure that any offers pension scheme members receive are explained properly.

Towers Watson’s clients top £10bn in Smart Beta: The company reaches 20 different Smart Beta client solutions

Thu, 7 Jun 2012 00:00:00 GMT

Towers Watson’s institutional investment clients have allocated over £10bn to Smart Beta solutions in the past five years. During this time, the company has partnered with many different asset managers to develop 20 Smart Beta solutions in areas where there were good investment ideas but no desirable investment products, on a net of fees basis.

Towers Watson Unveils a New Vision for Risk Management in the Institutional Investment Industry

Wed, 6 Jun 2012 00:00:00 GMT

Melbourne, 7 June 2012 – At its Ideas Exchange conference held in Melbourne on 7 June 2011, Towers Watson challenged many of the established norms associated with risk management in the investment industry and encouraged institutional investors to develop a better understanding of the subject.

Towers Watson (Re)Insurance Brokers expands in Germany

Wed, 6 Jun 2012 00:00:00 GMT

Towers Watson (Re)Insurance Brokers has continued its expansion in continental Europe with the creation of an operation in Germany. Towers Watson (Re)Insurance Brokers GmbH will be based in Munich.

Towers Watson Appoints Asia Pacific Regional Director, Insurance Management Consultancy

Mon, 4 Jun 2012 00:00:00 GMT

Hong Kong, 4 June, 2012 – Towers Watson has appointed Ben McDermott to lead its newly established Insurance Management Consultancy practice (IMC), effective July 1. “We are delighted to have appointed Ben to lead the growth of our insurance management consultancy practice. This practice will solidify Towers Watson’s position as the leading professional services firm for the insurance sector in the region.” said Michael Freeman, Managing Director, Risk Consulting & Software, Asia Pacific.

Towers Watson expands insurance management consultancy in France and Germany

Fri, 1 Jun 2012 00:00:00 GMT

Towers Watson has appointed Sabine Leboulanger in France and Henning Maass in Germany to lead the growth of its Insurance Management Consultancy (IMC) practice in Europe.

General Motors’ Retiree Settlement Announcement Continues Trend of De-Risking Pension Plans, Towers Watson Experts Say

Fri, 1 Jun 2012 00:00:00 GMT

Pension plan experts at Towers Watson say that the announcement today by General Motors Company (NYSE: GM) is a major indicator of a growing trend among defined benefit plan sponsors to address the ongoing financial risks associated with such plans.

Private Markets Investment in Asia Has Moved From the Margins to the Centre of Investors’ Thinking

Thu, 31 May 2012 00:00:00 GMT

Hong Kong, 31 May, 2012 – Given the global macroeconomic environment, institutional investors are enhancing their risk portfolio by investing in private markets opportunities in Asia according to Towers Watson. In the research, entitled, Investing in Private Markets, the company examine the potential rewards and challenges of investing in main emerging markets in Asia, such as China and India.

FTSE 100 DC schemes choose Diversified Growth Funds

Wed, 30 May 2012 00:00:00 GMT

Seventy of the FTSE 100 companies now offer Diversified Growth Funds (DGFs) as part of the fund range in their Defined Contribution (DC) pension schemes, up from 43 last year, according to Towers Watson’s annual research

The University of Warwick Pension Scheme appoints Towers Watson jointly as Delegated CIO and Scheme Actuary

Tue, 29 May 2012 00:00:00 GMT

The University of Warwick Pension Scheme has appointed Towers Watson as Delegated CIO and Scheme Actuary for its £120 million fund. This follows a number of similar appointments that have increased the company’s assets under advice in its Delegated Investment Services to over US$50 billion worldwide. The joint appointment will lead to a combined approach to investment and actuarial services for the Scheme.

Towers Watson Completes Acquisition of Extend Health

Tue, 29 May 2012 00:00:00 GMT

Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company, today announced the completion of its acquisition of Extend Health, Inc., which operates the largest private Medicare exchange in the United States. The acquisition enables Towers Watson to provide employers with health care solutions that combine specialized retiree medical transition consulting with the choice and cost advantages of individual Medicare plans purchased on a private exchange.

Investment in private markets improves on a pure mix of stocks and bonds

Mon, 28 May 2012 00:00:00 GMT

Towers Watson releases research about private markets investing which details suitable geographies, strategies and types of investment manager and lists the top five reasons for investing in this way.

Towers Watson advises on first pension scheme longevity hedge of 2012

Thu, 24 May 2012 00:00:00 GMT

Towers Watson says it expects the £1.4 billion longevity insurance contract between the Akzo Nobel (CPS) Pension Scheme and Swiss Re, which was announced today, to be the first of several agreements between UK pension schemes and providers of longevity risk hedging solutions during 2012.

Towers Watson Launches Knowledge-Sharing Network for Chief Risk Officers of North American Insurance Companies

Wed, 23 May 2012 00:00:00 GMT

Towers Watson, a global professional services company, announced today it has launched the Chief Risk Officer (CRO) Network, the insurance industry’s first knowledge-sharing network dedicated exclusively to senior risk officers of life, health and property & casualty insurers with significant operations in North America.

Solvency II Use Test requires shift to risk management

Wed, 23 May 2012 00:00:00 GMT

Insurance companies across Europe preparing for the implementation of Solvency II risk missing this one-off opportunity to achieve a return on the substantial investment made in complying with the regulations, according to a publication released by Towers Watson.

More Than Two-Thirds of Plan Sponsors With Defined Benefits Plans for New Hires Will Keep Them, Towers Watson Survey Finds

Wed, 23 May 2012 00:00:00 GMT

A significant number of U.S. employers that still offer defined benefit (DB) pension plans say they remain committed to providing those benefits to new salaried employees, according to a survey by global professional services company Towers Watson.

Continuing Inflationary Pressures Drive Asia Pacific Employers to Raise Salaries^[1] in 2012

Tue, 22 May 2012 00:00:00 GMT

Hong Kong, May 22, 2012 – As Asia Pacific economies continue to face inflationary pressures in the midst of growth uncertainties, companies in the region are continuing to take steps to help employees cope according to the 2012 Asia Pacific Salary Budget Planning Survey by global professional services firm Towers Watson (NYSE, NASDAQ: TW).

Towers Watson releases life expectancy smartphone app

Fri, 18 May 2012 00:00:00 GMT

Towers Watson a global professional services company, has released a smartphone application (app) allowing a user to estimate their own life expectancy. The free app, called TW LifeTime, uses the company’s comprehensive research into mortality rates, to show the user the average life expectancy of a pension scheme member with the same age, gender and postcode profile as their own.

FTSE350 pension deficits up by £30bn this month

Thu, 17 May 2012 00:00:00 GMT

The collective pension deficits of Britain’s biggest companies have increased by £30 billion since the beginning of May, according to Towers Watson. Total deficits in FTSE350 companies’ pension funds are estimated to have increased from £62 billion at the end of April to £92 billion by 16 May.

Seven out of ten life insurers optimistic in spite of Euro crisis

Mon, 14 May 2012 00:00:00 GMT

Seven out of ten European life insurers (68%) polled in a Towers Watson survey have a positive outlook for their businesses in spite of ongoing market turbulence.

Towers Watson to Acquire Extend Health in Move to Expand Retiree Benefit Services

Sun, 13 May 2012 00:00:00 GMT

Towers Watson, a global professional services company, announced today that it has signed an agreement to acquire Extend Health, Inc., which operates the largest private Medicare exchange in the United States.

HR Magazine and HR Review recognised at Towers Watson’s Awards for Excellence in HR Journalism

Fri, 11 May 2012 00:00:00 GMT

HR Magazine took home three prizes at the 2012 Towers Watson Excellence in HR Journalism Awards, held last night at the Serpentine Gallery in London. David Woods, deputy editor of HR Magazine, picked up HR Trade Journalist of the Year and the award for Talent Management and Career Development journalism, while HR Magazine won the gong for Printed HR Publication of the Year.

Towers Watson Appoints John Dick as Chief Information Officer

Wed, 9 May 2012 00:00:00 GMT

Towers Watson announced today the appointment of John Dick as chief information officer (CIO), effective May 7, 2012.

Towers Watson releases Standard Formula modelling solutions

Wed, 2 May 2012 00:00:00 GMT

Global professional services company, Towers Watson, is releasing additions to its established capital modelling solutions to help life, non-life and composite insurers perform the Standard Formula calculation that is required by all companies under the Solvency II regime.

Hedge fund fees get a makeover as investors take the upper hand

Tue, 1 May 2012 00:00:00 GMT

Only around one-third of outperformance from skill should go to hedge fund managers in the form of fees, with the rest going to the investor according to new research from Towers Watson, the global professional services company. In the research, entitled Hedge fund investing – opportunities and challenges, the company argues that this is wholly appropriate given investors place 100% of their capital at risk.

Towers Watson: Lump Sum Announcement Could Have Far-Reaching Implications for Plan Sponsors and Participants

Fri, 27 Apr 2012 00:00:00 GMT

Experts at Towers Watson say that today’s announcement by Ford Motor Company (NYSE, NASDAQ: F) represents a significant development in the U.S. defined benefit pension marketplace.

Strategic Talent Mobility Management Crucial for Asian MNCs’ Globalisation

Thu, 26 Apr 2012 00:00:00 GMT

Hong Kong, April 26, 2012 – As the global economy recovers, companies across the world are now poised to move forward with their expansion plans, and expect to move talent to their growth markets to support their overall business strategy.

Pensions App for members on the move

Wed, 25 Apr 2012 00:00:00 GMT

Towers Watson, a global professional services company, has released a smartphone application (app) providing real time pension data for defined contribution (DC) scheme members. Track My Pension, which is now available to UK occupational pension schemes administered by Towers Watson, enables members to view their current fund value, projected benefits, latest transactions and the performance of their funds using a smartphone.

What the Eurozone crisis and market innovation mean for pension risk transfer

Tue, 24 Apr 2012 00:00:00 GMT

Bulk annuity and longevity swap providers believe the Eurozone crisis has the potential to close off opportunities for pension schemes looking to transfer risk to third parties, but also to create new ones, according to a report from Towers Watson.

St George slays death’s dragons: Somerset village named after England’s patron saint tops new life expectancy league table

Mon, 23 Apr 2012 00:00:00 GMT

Hinton St George in Somerset tops a new life expectancy league table for the UK, according to a study by actuaries at Towers Watson. The village, which is named after England’s patron saint, narrowly edged out Aldeburgh (Suffolk) and Frinton-on-Sea (Essex). Seaview (Isle of Wight) and Ferndown (Dorset) complete the top five.

Towers Watson Global Study Identifies Six Activities That Influence Success of Organizational Change Management

Thu, 19 Apr 2012 00:00:00 GMT

Companies that manage change effectively are more likely to have a formal, systematic process and a dedicated staff than organizations that manage change poorly, according to new research by Towers Watson.

Variable annuity sales reach £1 billion in 2011

Wed, 18 Apr 2012 00:00:00 GMT

UK variable annuity sales rose to £1.09 billion in 2011, an increase of 15 per cent over 2010, according to research by Towers Watson.

Car insurance prices fall for first time in more than 3 years

Tue, 17 Apr 2012 00:00:00 GMT

Car insurance prices have fallen for the first time since late 2008 for comprehensive cover. The cost of comprehensive cover fell by 3.3% in the last quarter, with third party, fire and theft (TPFT) premiums seeing a smaller decrease of 0.4% in the same period.

Corporate Risk Managers Concerned, Taking Steps to Address Hardening Property & Casualty Market, Towers Watson Survey Finds

Mon, 16 Apr 2012 00:00:00 GMT

Amid growing concern, a vast majority of corporate risk managers at U.S. companies are taking steps to prepare for a hardening property & casualty (P&C) insurance market, according to an annual survey by Towers Watson.

CEO Compensation Increased Moderately in 2011, Towers Watson Analysis Finds

Mon, 16 Apr 2012 00:00:00 GMT

Compensation for chief executive officers (CEOs) at the nation’s largest corporations showed only a moderate increase in 2011, despite improved financial results, according to a new analysis of proxies conducted by Towers Watson.

One-Third of FTSE 100 companies only offer DC plans to all of their employees

Mon, 16 Apr 2012 00:00:00 GMT

Auto-enrolment remains the most significant pensions issue facing FTSE 100 companies. The number of FTSE 100 companies using Defined Contribution (DC) schemes offered to staff has increased to an all-time high according to a Towers Watson Survey. The annual survey shows that one third of FTSE 100 companies now offer DC only schemes to all employees – more than doubling the sole use of DC schemes since 2010. The survey also found that over the last year FTSE 100 employers maintained their core contribution levels.

Towers Watson Appoints Scott Burnett as Managing Director for South East Asia

Fri, 13 Apr 2012 00:00:00 GMT

Singapore, April 9, 2012 - Towers Watson, a leading global professional services company, today announced the appointment of Scott Burnett as Managing Director for South East Asia. He will be based in Singapore and will also take on the new role of Head of Client Development for Asia Pacific. Scott will be responsible for directing the company’s growing business in South East Asia and leading its focus on client relationships across Asia Pacific.

Investment mistakes identify real skill

Mon, 2 Apr 2012 00:00:00 GMT

Poorly performing investments by fund managers can be more revealing than their successes when assessing investment skill according to an article in Towers Watson’s annual Global Investment Matters publication.

Towers Watson Establishes Executive Compensation Team in Australia

Sun, 1 Apr 2012 00:00:00 GMT

Sydney, 2 April 2012 – Global professional services company Towers Watson (NYSE, NASDAQ: TW) has established an executive compensation business in Australia to complement its existing engagement survey and reward businesses in the country. The new business is headed by former Deloitte partner Jonathan Finlay, who leads a team of seven consultants, including Stephen Burke.

Importance of Retirement Programs in Employment Decisions Jumps for Younger Workers, Towers Watson Survey Finds

Wed, 28 Mar 2012 00:00:00 GMT

The percentage of America’s younger workers who say an employer-sponsored retirement program is important for either joining or staying with an employer has jumped sharply in the past two years, especially at employers that still offer a pension plan, according to a survey by Towers Watson.

Acquirers continue to reap rewards in a sluggish market

Mon, 26 Mar 2012 00:00:00 GMT

First-quarter figures from Towers Watson’s Quarterly Deal Performance Monitor (QDPM) show that acquirers of companies have continued to outperform both Global and regional MSCI indices, with deals during the period returning, on average, 2.3 percentage points (pp) above the Global MSCI Index.

Towers Watson Launches Latest iPad Application

Thu, 22 Mar 2012 00:00:00 GMT

Towers Watson announced today the launch of a new Human Capital Metrics iPad application.

Chuck Longiotti Joins Towers Watson as Senior Consultant in Southern California

Thu, 22 Mar 2012 00:00:00 GMT

Towers Watson announced today that Chuck Longiotti has joined the company as an account director and member of the company’s Southern California Client Development Group.

Automatic enrolment will create increased challenges for DC plans

Wed, 21 Mar 2012 00:00:00 GMT

With automatic enrolment starting later on this year, the Department for Work and Pensions has estimated that over the next five years, five to eight million employees are expected to start saving or to save more in workplace pensions. The evidence taken from the Towers Watson DC Governance survey 2012 suggests employers believe their existing DC plans best serve the needs of the majority of their existing and future employees.

High CEO Pay Opportunity and Pay-for-Performance Disconnects Likely to Trigger More Shareholder Opposition in Say-on-Pay Votes, Towers Watson Analysis Finds

Wed, 21 Mar 2012 00:00:00 GMT

With the 2012 say-on-pay proxy season now under way, Towers Watson has released an analysis that shows companies that give their CEOs high pay opportunities are more likely to receive lower levels of shareholder support for their say-on-pay votes than those with smaller pay opportunities.

Towers Watson Issued U.S. Patents for Insurance Industry ‘Smart Modeling’ Technique

Thu, 15 Mar 2012 00:00:00 GMT

Towers Watson announced today that the United States Patent and Trademark Office (USPTO) has issued two key patents for its innovative Replicated Stratified Sampling (RSS) financial modeling technique for the insurance industry.

Insurers split on Periodical Payment Orders pooling solution

Tue, 13 Mar 2012 00:00:00 GMT

Insurers and reinsurers are split on whether companies would benefit from some sort of industry pooling solution to deal with the size and duration of payments that Periodical Payment Orders (PPOs) may entail, research conducted by Towers Watson at a seminar on the topic has found. Of those who favour this option, 58% are optimistic that such an arrangement will actually occur.

Commercial Insurance Prices Continued to Increase During Fourth Quarter of 2011, Towers Watson Survey Finds

Mon, 12 Mar 2012 00:00:00 GMT

Commercial insurance prices increased an aggregate 3% during the fourth quarter of 2011 — the fourth consecutive quarter during which prices for all standard commercial lines rose, according to the most recent Commercial Lines Insurance Pricing Survey (CLIPS) released by Towers Watson.

Pay stutters as UK companies peg wage increases to inflation

Thu, 8 Mar 2012 00:00:00 GMT

British companies will increase salaries at a rate marginally above inflation in 2012, a new survey by Towers Watson Data Services has found. The latest Salary Budget Planning Report for Europe, the Middle East and Africa found that salaries for UK employees were predicted to increase by 3%, against a prevailing inflation increase of 2.9%.

Health Care Benefits Changes on the Horizon, Towers Watson/National Business Group on Health Study Finds

Thu, 8 Mar 2012 00:00:00 GMT

Although the rate of health care cost increases is expected to remain stable in 2012, employers are taking more aggressive steps to manage their rising costs and improve employee health, according to findings from the 2012 Towers Watson/National Business Group on Health Employer Survey on Purchasing Value in Health Care.

More Directors and Officers Inquiring About D&O Insurance Coverage, Towers Watson Survey Finds

Wed, 7 Mar 2012 00:00:00 GMT

An increasing number of corporate directors and officers are showing more interest in the insurance programs their companies use to protect them against potential litigation, an indication they are growing concerned over the wide range of exposures confronting them, according to an annual survey by Towers Watson.

Towers Watson announces knowledge partnership with Tomorrow's Company and IPA

Wed, 7 Mar 2012 00:00:00 GMT

Towers Watson has formed a partnership with agenda-setting think tank, Tomorrow's Company and employment relations specialists The Involvement and Participation Association (IPA). As exclusive knowledge partner, Towers Watson will be assisting Tomorrow’s Company and the IPA with their Rethinking Voice project.

Risk management in the wrong type of snow

Tue, 6 Mar 2012 00:00:00 GMT

In new research published by Towers Watson (NYSE, NASDAQ:TW), a leading global professional services company, it challenges many of the established norms associated with risk management and encourages institutions to develop a better understanding of the subject.

Pension Plan Funding Levels Declined Modestly in 2011, Towers Watson Analysis Finds

Tue, 6 Mar 2012 00:00:00 GMT

While employers continue to make sizable cash contributions to their pension plans, declining interest rates and, to a lesser extent, weak asset returns, reduced the average funded status of Fortune 1000 pension plans by four percentage points during 2011.

Towers Watson introduces updated version of Emblem pricing software

Tue, 6 Mar 2012 00:00:00 GMT

Emblem 4.2 includes a unique innovative technique that materially enhances predictive models. The "saddle builder" detects interactions between factors that would otherwise be hard to find.

Towers Watson announces three senior risk consulting hires

Mon, 5 Mar 2012 00:00:00 GMT

Global professional services company, Towers Watson, has appointed senior life insurance experts Tim Bateman, Peter Murphy and Miles Stanhope to its UK risk consulting business.

Towers Watson Named to FORTUNE’s List of World’s Most Admired Companies

Mon, 5 Mar 2012 00:00:00 GMT

Towers Watson has been ranked No. 1 in its industry category on FORTUNE magazine’s list of “World’s Most Admired Companies.” This marks the first time Towers Watson has been named to this prestigious list.

Towers Watson hires Director of Change Management in the UK

Thu, 1 Mar 2012 00:00:00 GMT

Towers Watson has appointed Phil Merrell to lead its Change Management practice in the UK. Merrell’s role is to manage and grow the company’s Change Management consultancy practice to ensure Towers Watson’s clients achieve changes that deliver sustained success. He will focus on M&A, business transformation and performance improvement.

Pension Worries On the Rise for Both Defined Benefit and Defined Contribution Plan Sponsors, Towers Watson Survey Finds

Thu, 1 Mar 2012 00:00:00 GMT

A new survey of 115 Canadian Defined Benefit (DB) and Defined Contribution (DC) pension / Capital Accumulation (CAP) plan sponsors from Towers Watson suggests that a growing sense of pessimism is settling over the Canadian pension landscape.

Towers Watson Downgrades Global Sovereign Bonds to 'Highly Unattractive'

Thu, 1 Mar 2012 00:00:00 GMT

Sydney, 1 March, 2012 – Towers Watson (NYSE, NASDAQ: TW), the global professional services firm, has downgraded intermediate* global developed market government and inflation-linked bonds to 'highly unattractive'. This is in line with its view that ongoing money-printing by central banks and flows into so-called safe assets have pushed intermediate bond risk premiums to very low levels that no longer properly compensate long-term investors for taking duration risk.

Towers Watson downgrades intermediate bonds to ‘highly unattractive’

Thu, 1 Mar 2012 00:00:00 GMT

Towers Watson the global professional services firm, has downgraded intermediate global government and intermediate inflation-linked bonds to ‘highly unattractive’. This is in line with its view that ongoing money-printing by central banks and flows into so-called safe assets have pushed intermediate bond risk premiums to very low levels that no longer properly compensate long-term investors for taking duration risk.

Towers Watson Named to 2012 Global Outsourcing 100 List

Tue, 28 Feb 2012 00:00:00 GMT

Towers Watson has been named to the 2012 Global Outsourcing 100® List by the International Association of Outsourcing Professionals (IAOP).

Towers Watson study shows European companies struggling to deal with change

Tue, 28 Feb 2012 00:00:00 GMT

Towers Watson has released findings that show companies in Europe, the Middle East and Africa (EMEA) have had to deal with more change management challenges than their global counterparts and have struggled to deal with them as effectively. The Towers Watson study, entitled Clear Direction in a Complex World, shows that many companies around the world have been forced to implement significant change in order to adapt to economic challenges and remain competitive during the past two years.

More U.S. Workers Willing to Trade Pay for Extra Security and Richer Retirement Benefits, Towers Watson Survey Finds

Mon, 27 Feb 2012 00:00:00 GMT

Faced with the possibility of future reductions in employer-provided benefits, an increasing number of U.S. workers say they are willing to trade some of their pay for more secure and generous retirement and health care benefits, according to a survey of more than 9,200 workers by Towers Watson.

Fund Managers Cautious About 2012

Thu, 16 Feb 2012 00:00:00 GMT

Sydney, 16 February, 2012 - Fund managers have turned significantly more cautious about the prospects for world growth and investment returns, according to a global survey of investment managers conducted by global professional services firm Towers Watson (NYSE, NASDAQ: TW).

European Commission must take pensions impact assessment seriously

Thu, 16 Feb 2012 00:00:00 GMT

Advice given to the European Commission by the European Insurance and Occupational Pensions Authority (EIOPA) today marks another milestone for the development of Europe-wide solvency standards for pension schemes, according to Towers Watson.

Fund managers cautious about 2012

Wed, 15 Feb 2012 00:00:00 GMT

Fund managers have turned significantly more cautious about the prospects for world growth and investment returns, according to a global survey of investment managers conducted by Towers Watson.

Towers Watson strengthens HR Technology team with four key appointments in EMEA

Tue, 14 Feb 2012 00:00:00 GMT

Towers Watson has announced four significant appointments in its growing HR Technology business in EMEA, reflecting increased demand for the firm’s services across the region. Following the recent release of version 7.0 of the company’s Talent|REWARD software, Towers Watson is building a larger team to handle demand, drive further growth and deliver the increased number of implementation projects in EMEA.

Towers Watson Continues to Expand Delegated Services Team

Tue, 14 Feb 2012 00:00:00 GMT

Towers Watson has appointed industry veteran Hrach Alexanian as a senior investment advisor, further strengthening its position in the delegated investment services market.

Pension Funding Levels Declined in All Major Global Markets in 2011, Towers Watson Finds

Mon, 13 Feb 2012 00:00:00 GMT

Despite some improvements in the fourth quarter of 2011, pension funding levels in major global markets dropped over the year due to declining discount rates and disappointing asset returns, according to Towers Watson’s latest Pension Index.

Towers Watson Completes Health and Welfare Administration Outsourcing Implementation at Dow Chemical

Thu, 9 Feb 2012 00:00:00 GMT

Towers Watson announced it has completed the latest phase of a multiyear employee benefits administration project for The Dow Chemical Company.

Towers Watson CFO Surveys Signal Increased Deal/M&A Activity in the Insurance Market in the Coming Years

Wed, 8 Feb 2012 00:00:00 GMT

The insurance industry should expect a sharp increase in merger and acquisition (M&A) activity over the next few years-both in the property & casualty (P&C) and life insurance markets, according to Towers Watson.

P&C Insurers Expand Implementation and Usage of Predictive Modeling, According to Towers Watson Survey

Mon, 6 Feb 2012 00:00:00 GMT

Predictive modeling continues to gain momentum among North American property & casualty (P&C) insurers, according to findings from the third predictive modeling survey.

Global Pension Fund Assets Hit Record High in 2011

Mon, 30 Jan 2012 00:00:00 GMT

Global institutional pension fund assets in the 13 major markets grew by 4% during 2011 to reach a new high of US$28 trillion, up from US$26 trillion in 2010 according to Towers Watson’s Global Pension Assets Study released today. The growth is the continuation of a trend which started in 2009 when assets grew 17%, and in sharp contrast to a 21% fall during 2008 which took assets back to 2006 levels. Global pension fund assets have now grown at over 6% on average per annum (in USD) since 2001, when they were valued at US$15 trillion.

Deepwater Horizon Disaster Pushes Increase in U.S. Tort Costs in 2010, According to Towers Watson Study

Thu, 26 Jan 2012 00:00:00 GMT

The April 2010 Deepwater Horizon drilling rig explosion and resulting oil spill in the Gulf of Mexico were the key drivers in the 5.1% increase in U.S. tort costs in 2010, according to the 2011 Update on U.S. Tort Cost Trends from Towers Watson. Absent the costs from that event, tort costs would have shown an overall decrease of 2.4% for the year, the findings indicated.

Minimum pension contributions – just one more delay

Wed, 25 Jan 2012 00:00:00 GMT

Today’s announcement on further delays to the Government’s workplace pension reforms means that minimum contributions will now be fully phased in almost 16 years after the Pensions Commission was asked to investigate under-saving for retirement, according to Towers Watson.

Towers Watson hires Director of Talent & Organisation in the UK

Tue, 24 Jan 2012 00:00:00 GMT

Towers Watson has appointed Arvinder Dhesi to lead its Talent & Organisation practice in the UK. Dhesi’s role is to manage and grow the company’s successful talent management consultancy practice by extending and strengthening the company’s relationships with a broad range of clients. Dhesi has over 20 years of industry experience in human resources and customer facing roles.

January 1 Reinsurance Renewals on the ‘Firming Side of Stable,’ According to Towers Watson

Tue, 24 Jan 2012 00:00:00 GMT

Most U.S. P&C reinsurance treaties renewed with premium rates that were flat or up slightly; some property catastrophe lines showed significant upward movement.

High Performing Sales Managers Spend More Time on Sales, Less Time on Administrative Activities, Towers Watson Research Finds

Mon, 23 Jan 2012 00:00:00 GMT

New survey suggests the difference between successful and unsuccessful sales manager is more a function of how they allocate their selling time among various activities and audiences

Towers Watson supports the RCG Code of Conduct review

Thu, 19 Jan 2012 00:00:00 GMT

Towers Watson has announced its support of the Remuneration Consultants Group (RCG) Code of Conduct following the completion of the first formal review. As an active member of the RCG since the inception of the group, Towers Watson has participated in the review process and is fully supportive of the revisions which strengthen the Code in some important respects.

U.S. Workers’ Financial Situation and Confidence in Retirement Security Improve, Towers Watson Survey Finds

Thu, 19 Jan 2012 00:00:00 GMT

U.S. employees’ confidence in their ability to retire comfortably continued to rebound last year; despite growing satisfaction with their financial situation and fewer employees reporting significant declines in retirement savings, many employees remain concerned and are taking steps to get their financial houses in order, according to a new Towers Watson survey.

Towers Watson Strengthens Capabilities to Help Hospital Industry Address Changing Nature of Physician Relationships

Wed, 18 Jan 2012 00:00:00 GMT

Towers Watson hires two industry veterans with extensive physician compensation and alignment expertise.

Number of International Pension Plans grow at rapid rate

Mon, 16 Jan 2012 00:00:00 GMT

The International Pension Plan (IPP) market is expanding at a rapid rate, with 36 new IPPs set up in the past year, according to Towers Watson research. The company’s IPP survey, in its fourth year, shows the IPP market evolving rapidly with a 15% growth rate in the last year, continuing a trend which has seen it grow by 50% in the last five years.

Annual car insurance prices keep pace with inflation

Thu, 12 Jan 2012 00:00:00 GMT

Car insurance prices have continued to keep pace with inflation over the last twelve months. The cost of comprehensive cover rose by 4.9% in 2011, with third party, fire and theft (TPFT) premiums increasing in cost by 10.2% year-on-year, according to the Confused.com/Towers Watson Car Insurance Price Index.

Hospital Executives Facing Big Challenges From Health Care Reform, Towers Watson Survey Finds

Wed, 11 Jan 2012 00:00:00 GMT

A majority of human resource executives at U.S. hospitals and health care systems expect health care reform to hasten the transformation of the industry’s traditional business model, according to a new survey by Towers Watson.

Money problems affect performance for one in ten workers

Wed, 11 Jan 2012 00:00:00 GMT

One in ten private sector employees have money worries which prevent them from doing their best work, which rises to one in five for those earning £20,000 - £30,000 according to Towers Watson research. The research entitled, the future of workplace savings, also shows that over 86% of employees now have less trust in their company pension than 15 years ago, up from 74% in 2008, when the company first produced this research. In addition, the study shows that only one in three companies believe they are getting value from their current benefit spend.

Towers Watson Appoints Bruce Rodio Senior Investment Advisor, Delegated Investment Services

Tue, 10 Jan 2012 00:00:00 GMT

Strengthening its presence in the delegated investment services market, Towers Watson has named industry veteran Bruce Rodio senior investment advisor.

Where’s the Money? Asset Allocation a Pension Challenge for 2012

Tue, 10 Jan 2012 00:00:00 GMT

Towers Watson Survey of Economic Expectations predicts more trouble for pension plan funding as economic uncertainty and low interest rates continue.

Towers Watson Strengthens DC team with three key appointments

Tue, 10 Jan 2012 00:00:00 GMT

Towers Watson has announced three significant appointments in the Defined Contribution (DC) business, which reflects growing demand for the firm’s services in this area nationally as well as in the UK’s Northern region.

Towers Watson launches new Talent|REWARD® website

Thu, 5 Jan 2012 00:00:00 GMT

Towers Watson today announced the launch of its Talent|REWARD version 7 (v.7) website. The website offers easy access to information and guidance on Towers Watson’s new software, enabling organisations to deliver comprehensive talent management and reward programmes.

Towers Watson Introduces Updated Versions of RiskAgility MoSes and RiskAgility EC Software

Thu, 5 Jan 2012 00:00:00 GMT

To help insurers better manage risk and value, Towers Watson has released updated versions of its RiskAgility MoSes enterprise financial modeling software and RiskAgility Economic Capital (EC) Aggregator software.

Towers Watson “DB Pension Index” Shows Defined Benefit Pension Financial Health Eroded During 2011

Wed, 4 Jan 2012 00:00:00 GMT

Defined benefit (DB) pension plans – those that promise a guaranteed level of pension for the retiree’s lifetime – continue to weigh on the financial health of the organizations that have made such commitments.

Towers Watson Appoints Robert Wilkes as Managing Director of Singapore

Tue, 3 Jan 2012 00:00:00 GMT

Singapore, 3 January 2012 - Towers Watson, a leading global professional services company, announced today the appointment of Robert Wilkes as Managing Director for Singapore.

Companies set to disclose large pension deficits as shortfalls approach £50 billion

Fri, 30 Dec 2011 00:00:00 GMT

Companies preparing their accounts for corporate years ending 31 December 2011 could be set to report widening pension deficits, according to Towers Watson. The consultancy estimates that, since the end of 2010, aggregate pension deficits in FTSE100 companies’ accounts have grown from £40.9 billion to £48.0 billion.

Steady salary growth in 2011 for UAE private sector

Tue, 27 Dec 2011 00:00:00 GMT

Salaries increased by an average of 5.5% across all industries in the UAE during 2011 compared to 4.4% the previous year, according to Towers Watson research. This finding was announced at the company’s annual Middle East HR Forum, where it also predicted that salaries in the UAE are expected to rise by a further 5.7% in 2012.

Towers Watson Appoints Stephen Cotham as New Managing Director for Vietnam

Wed, 21 Dec 2011 00:00:00 GMT

Ho Chi Minh City, 15 October 2011 - Towers Watson, a leading global professional services company, has announced the appointment of Stephen Cotham as Managing Director for Vietnam. Prior to this appointment, Stephen was Director of Products, Distribution & Markets for Towers Watson's Risk and Financial Services segment for South East Asia.

Acquirers outperformed throughout 2011, despite testing market conditions

Mon, 19 Dec 2011 00:00:00 GMT

Latest year-to-date figures show that acquirers have, on average, continued to outperform the Global MSCI Index (the index) in 2011, with adjusted returns of 2.9 percentage points (pp) above the index for the year to date. The figures which come from the latest issue of Towers Watson’s Quarterly Deal Performance Monitor (QDPM) demonstrate that the share prices of acquirers have continued to outperform their indices, despite detrimental market conditions and deflated levels of business confidence.

Finance, HR Executives See Roles Changing in the Wake of Health Reform, Towers Watson Survey Finds

Thu, 15 Dec 2011 00:00:00 GMT

A tighter partnership between corporate finance and human resource executives may be on the horizon as U.S. companies begin to address the implications of health care reform for their reward programs and talent management strategy, according to a new survey by Towers Watson and Forbes Insights.

Towers Watson Announces New Appointments For Talent & Rewards and Executive Compensation for Malaysia

Thu, 15 Dec 2011 00:00:00 GMT

MALAYSIA, 8 December 2011 - Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company, has appointed Mary Chua as Director of Talent and Rewards and Stuart A. James as Leader for the Executive Compensation Consulting, both are based in Malaysia.

Towers Watson wins London Market Award

Wed, 14 Dec 2011 00:00:00 GMT

Towers Watson’s Risk Consulting and Software won the “Transaction of the Year” award in the 2011 Insurance Day London Market Awards for the acquisition of EMB. EMB specializes in property & casualty insurance consulting and high performance software. We acquired the company in February, significantly expanding our P&C service offerings and obtaining exciting new sales opportunities.

Commercial Insurance Prices Increase for Second Straight Quarter, According to Towers Watson Survey

Tue, 13 Dec 2011 00:00:00 GMT

Commercial insurance prices continue to rise, increasing an aggregate 2% during the third quarter of 2011 - the second straight quarter when all standard commercial lines showed an uptick in pricing. However, the increases are not enough to keep up with reported claim cost inflation levels, according to Towers Watson’s most recent Commercial Lines Insurance Pricing Survey (CLIPS).

Towers Watson Recognized in Industry Report on Benefits Administration Outsourcing Market

Mon, 12 Dec 2011 00:00:00 GMT

Towers Watson has once again been recognized as the top defined benefits administration outsourcing (BAO) provider in a prominent industry market report issued by Everest Group, an advisory and research firm on global services. The report also noted that Towers Watson experienced the second-largest percentage increase in market share among the largest BAO providers globally.

Towers Watson appoints Billy Turriff as Business Leader for Data, Surveys and Technology in the Middle East

Wed, 7 Dec 2011 00:00:00 GMT

Towers Watson, the global professional services company, has appointed Billy Turriff to lead their Data, Surveys and Technology lines of business across the Middle East region.

Talanx licenses Towers Watson software for global risk management

Wed, 7 Dec 2011 00:00:00 GMT

German financial services group, Talanx AG, which includes the HDI and Hannover Re insurance brands, has moved to harmonise regulatory capital reporting and IT systems for enterprise risk management worldwide by purchasing the Enterprise editions of Towers Watson’s Igloo financial modelling and ResQ reserving software.

Majority of U.S. Companies to Pay 2011 Executive Bonuses Equal To or Larger Than Last Year’s, Towers Watson Survey Finds

Wed, 7 Dec 2011 00:00:00 GMT

Despite many companies in North America anticipating a decline in shareholder value in 2011, a majority expect to pay executive bonuses that are as large as or larger than last year’s awards. Additionally, the majority of companies plan to fund this year’s bonuses at or above target levels, reflecting strong operating results, according to a survey by Towers Watson.

Two-thirds of insurers aim to use independent experts to validate market risk assumptions in internal models

Mon, 5 Dec 2011 00:00:00 GMT

The rapid economic meltdown in 2008 and the current European debt crisis highlight the risk of unquestioningly relying on historic data when forecasting future economic conditions, according to Towers Watson. With regulatory requirements evolving in response and more stringent tests being imposed, the company asserts that insurers face a number of new challenges in measuring market risk. The Towers Watson market risk calibration survey* indicates that just under two-thirds of UK insurers intend to use external independent validation of their market risk assumptions.

Towers Watson hires Head of Wealth Management for Asia

Mon, 5 Dec 2011 00:00:00 GMT

Hong Kong, London, New York, 5 December 2011 – Towers Watson (NYSE, NASDAQ:TW), a leading global professional services company, has appointed Danny Howell as Head of Wealth Management for Asia.

Towers Watson increases stake in Fifth Quadrant to 51%

Thu, 1 Dec 2011 00:00:00 GMT

Towers Watson a leading global professional services company, has increased its shareholding in Fifth Quadrant, the independent South African actuarial and employee benefits consultancy, to 51% in line with a definitive agreement reached in March 2011. The companies first agreed to a strategic alliance in June 2008.

Stable-Value Strategies Becoming Riskier

Tue, 29 Nov 2011 00:00:00 GMT

The changing economic climate and greater regulatory uncertainty - combined with diminishing wrap capacity and consistently lower yields - have reduced the stability and value that investors can expect from stable value investment strategies, according to Towers Watson.

Towers Watson Study: Investing in workforce health generates higher productivity

Mon, 21 Nov 2011 00:00:00 GMT

As Canadian organizations search for ways to improve workforce productivity, they are trying new approaches to combat the double-whammy of rising health costs and increased employee absence, stress and disability - and some are succeeding more quickly than others.

More Companies Worldwide Embracing New Media for Employee Communication, Towers Watson Study Finds

Thu, 17 Nov 2011 00:00:00 GMT

A majority of companies worldwide say they are becoming more knowledgeable about the use of social media tools to connect with and keep their workforces informed. In fact, more than two-thirds of companies surveyed by global professional services company Towers Watson plan to increase their use of social media tools over the next 12 months though many question their cost effectiveness.

Towers Watson to Open Southeast Brokerage Operation

Tue, 15 Nov 2011 00:00:00 GMT

In a move that expands its reinsurance brokerage business in the Southeast, Towers Watson has established a brokerage operation in the Burlington-Greensboro, NC area.

Turkish businesses challenged by talent shortage

Mon, 14 Nov 2011 00:00:00 GMT

Four out of five Human Resource (HR) professionals are concerned about finding and recruiting critical-skill talent*, according to a study by Towers Watson. As the Turkish economy continues to grow and the business environment becomes increasingly favourable for international companies, Turkey’s HR professionals face a shortfall in the critical-skills talent amid increasing competition.

Barry Perkins joins Towers Watson’s International Consulting Group

Wed, 9 Nov 2011 00:00:00 GMT

Towers Watson has further strengthened its international consulting group in London by appointing benefits financing specialist Barry Perkins. Prior to joining Towers Watson, Barry spent eight years with HSBC, first as an Employee Benefits consultant manager in Employee Benefits with HSBC Actuaries and Consultants Ltd and more recently as a Senior Manager within the Group Insurance Risk function.

Towers Watson Establishes Integrated Global Operations Center in Manila

Wed, 9 Nov 2011 00:00:00 GMT

Philippines, November 9, 2011  Professional services company Towers Watson announced today the set-up of the Global Resource Center (GRC) in Manila.

Towers Watson to Expand DriveAbility^SM Program

Mon, 7 Nov 2011 00:00:00 GMT

With an increasing number of automobile insurers implementing usage-based insurance (UBI) products that analyze data from in-car devices (telematics), Towers Watson has made several senior appointments to lead the wider rollout of its DriveAbility^SM program.

£27bn added to pension deficits this week as eurozone crisis continues

Fri, 4 Nov 2011 00:00:00 GMT

FTSE100 companies’ pension deficits have grown by £27 billion since the end of last week, according to Towers Watson. The consultancy estimates that aggregate deficits in FTSE 100 companies’ defined benefit pension schemes started the week at £8 billion but had increased to £35 billion by the time that markets closed on Thursday.

Most U.S. Employers Have Restored 401(k) Matching Contributions, Towers Watson Analysis Finds

Wed, 2 Nov 2011 00:00:00 GMT

NEW YORK, November 2, 2011-The vast majority of U.S. employers that suspended their 401(k) plan matching contributions during the recent economic downturn have since restored them, according to new analysis by Towers Watson (NYSE; NASDAQ: TW), a global professional services company.

Strong markets in 2010 help top asset managers

Mon, 31 Oct 2011 00:00:00 GMT

Assets managed by the world’s largest 500 fund managers rose by over 4% in 2010 to around US$65 trillion, continuing a trend from 2009 when assets rose 16% on the prior year. The Pensions & Investments / Towers Watson World 500 research also shows that despite the rises in assets in 2009 and 2010, they are still below 2007 levels of over US$69 trillion.

Australian Investment Managers Rocket Up Rankings as Markets and the Strength of the Dollar Lead to Asset Growth

Mon, 31 Oct 2011 00:00:00 GMT

Sydney, 1 November 2011 – Latest research from leading global consultant Towers Watson and Pension & Investments, a leading US investment newspaper, shows assets managed by Australia’s largest investment managers increased significantly relative to global peers last year.

Will new life expectancy projections pave the way for a higher State Pension Age?

Thu, 27 Oct 2011 00:00:00 GMT

Official population projections published yesterday underline how far estimates of life expectancy have increased since the legislation which raises the State Pension Age to 68 by 2046 was drawn up, according to Towers Watson.

Compensation for Corporate Directors Increased Moderately in 2010, Towers Watson Analysis Finds

Wed, 26 Oct 2011 00:00:00 GMT

Compensation for outside directors at the nation’s largest corporations increased moderately last year, fueled mostly by the largest increase in the value of equity awards since 2006, according to a new analysis by Towers Watson (NYSE, NASDAQ: TW), a global professional services company. The analysis also found that more companies replaced board and committee meeting fees with fixed retainers for service.

Pension Freedom Further Away — New Towers Watson “Pension Freedom Index” Shows Canadians Working Longer

Wed, 26 Oct 2011 00:00:00 GMT

As corporations continue to shutter their traditional defined benefit (DB) pension plans, the retirement future of Canadian workers is increasingly tied to the performance of defined contribution (DC) pension arrangements.

Use of Rewards and Penalties to Drive Employee Health Jumps During 2012

Tue, 25 Oct 2011 00:00:00 GMT

As U.S. employers seek to address rising health-related costs, their commitment to programs that improve the health and productivity of their workers is holding firm. However, to engage employees in health management programs, the number of companies using financial incentives and penalties for participation and measurable improvement to health is rapidly on the rise, according to a survey of 335 midsize to large companies* by Towers Watson (NYSE, NASDAQ: TW), a global professional services company, and the National Business Group on Health.

EIOPA regulators tell European Commission to do the maths before harmonising pension funding rules

Tue, 25 Oct 2011 00:00:00 GMT

Towers Watson says that the European Insurance and Occupational Pensions Authority is right to warn that the viability of a harmonised system of pension funding rules across the Europe Union “will very much depend on the outcomes of a quantitative impact assessment, which in EIOPA’s view is essential for any legislative proposal”.

Extreme risk planning - Towers Watson reveals research and ranking for managing 'known unknowns'

Mon, 24 Oct 2011 00:00:00 GMT

Sovereign default has risen four places to second position in Towers Watson's ranking of the top fifteen extreme risks while Depression retains the top position and hyperinflation moves to third. The company's ranking categorises events that would have a high impact on global economic growth and asset returns if they occurred and incorporates the degree of certainty in assessing the risk. The bottom three in the ranking are the end of fiat money, infrastructure failure (replacing a major global conflict which has moved up in the ranking) and a killer pandemic.

Towers Watson continues to expand its property and casualty market platform

Mon, 24 Oct 2011 00:00:00 GMT

Towers Watson has further strengthened its presence in the North American property reinsurance market by appointing leading broker James Beresford to its North American reinsurance business in London.

New Zealand leadership culture indicates victory over France at the final hurdle

Thu, 20 Oct 2011 00:00:00 GMT

Organisational culture and leadership performance could prove decisive in this weekend’s Rugby World Cup final, according to analysis from Towers Watson.

What today's inflation numbers mean for next year’s pension increases

Thu, 20 Oct 2011 00:00:00 GMT

The Consumer Prices Index (CPI) rose by 5.2 per cent over the 12 months to September 2011, while the Retail Prices Index (RPI) increased by 5.6 per cent, the Office for National Statistics revealed today.

Towers Watson strengthens its European Reinsurance Business

Thu, 20 Oct 2011 00:00:00 GMT

Towers Watson has further strengthened its presence in the European reinsurance brokerage market by appointing Nicolas Moinier as a senior broker in its reinsurance business.

New Zealand Leadership Culture Indicates Victory Over France at the Final Hurdle

Thu, 20 Oct 2011 00:00:00 GMT

Sydney, 21 October 2011 - The upcoming Rugby World Cup final will see a confident New Zealand side face a French team that has consistently overcome the odds to reach the final stage of the competition.

Canadian Companies Having Difficulty Attracting Critical-Skill Employees, Towers Watson Survey Finds

Wed, 19 Oct 2011 00:00:00 GMT

Given the uncertain economic outlook, many Canadian companies are finding it relatively easy to attract or retain workers, with one major exception – critical-skill employees. A new survey from Towers Watson shows that Canadian companies have trouble finding and keeping the workers they need most.

Jeremy Hill appointed Director, International Consulting Group at Towers Watson

Wed, 19 Oct 2011 00:00:00 GMT

Towers Watson has appointed Jeremy Hill as a Director in its International Consulting Group, specifically to support the further development of its global benefit management services.

Michael Popkin Named Co-Head of ILS for Towers Watson Capital Markets

Tue, 18 Oct 2011 00:00:00 GMT

Expanding the breadth and depth of its capital market expertise and solution offerings, Towers Watson has named Michael Popkin co-head of insurance-linked securities (ILS) for Towers Watson Capital Markets (TWCM) Inc., the company’s U.S.-based broker-dealer.

France’s quarter-final victory gives clues to managing talent under pressure

Thu, 13 Oct 2011 00:00:00 GMT

Organisational culture and leadership performance influenced the France vs. England Rugby World Cup quarter-final, according to analysis from Towers Watson. For England fans the Rugby World Cup is over, while a revived French team outperformed their arch rivals against the odds and are now on course for their third consecutive semi-final.

Workforce and Technology Issues Lead Claim Officers’ Concerns, According to Towers Watson Survey

Thu, 13 Oct 2011 00:00:00 GMT

A soft business environment, workforce issues and technology challenges – all exacerbated by an unstable economy – are among the major concerns for claim officers, according to a Towers Watson survey.

Car insurance premium inflation continues to top 10%

Thu, 13 Oct 2011 00:00:00 GMT

Over the 12 months to the end of September, prices for comprehensive motor insurance cover have risen on average by 12.3% according to the Confused.com/Towers Watson Car Insurance Price Index, This compares to premium inflation of just under 38% over the course of 2010. The slowing of price rises was due in large part to a third quarter decrease of 1.6%, the first price decrease since the second quarter of 2008.

Meat and Livestock Commission Pension Scheme in £150m pensioner buy-in

Wed, 12 Oct 2011 00:00:00 GMT

The Trustee Board of the Meat and Livestock Commission Pension Scheme, advised by Towers Watson, has completed a £150m pensioner buy-in with Aviva. The deal, transacted in June 2011, involves Aviva making payments to the Scheme equivalent to pensions for over 900 pensioner and dependant members of the Scheme.

More U.S. Companies Having Difficulty Attracting Critical-Skill Employees, Towers Watson Survey Finds

Mon, 10 Oct 2011 00:00:00 GMT

With the U.S. economy still unsteady, most U.S. companies are finding it relatively easy to attract or retain workers, with one major exception-critical-skill employees. A new survey from global professional services company Towers Watson (NYSE, NASDAQ: TW) and WorldatWork, an international association of human resource professionals, shows that for the second consecutive year, the number of U.S. companies having difficulty finding and keeping critical-skill workers has increased.

Mental Issues, Stress, A Major Concern for Companies in Asia-Pacific

Sun, 9 Oct 2011 00:00:00 GMT

Hong Kong, 10 October 2011 – There is significant consistency across Shanghai, Hong Kong and Singapore, that mental issues and stress are amongst the top concerns of companies, according to a pulse survey by Towers Watson (NYSE, NASDAQ: TW), a global professional services company.

Towers Watson Expands Investment Services for Insurers and Reinsurers With Acquisition of WellsCanning

Tue, 4 Oct 2011 00:00:00 GMT

Towers Watson today announced that it has acquired the business of WellsCanning, an investment advisory firm specializing in the insurance industry.

Towers Watson Announces Latest Release of Talent|REWARD Software Solution

Mon, 3 Oct 2011 00:00:00 GMT

Towers Watson today announced the release of Talent|REWARD v7, the newest version of the company’s flagship software solution that helps organizations deliver comprehensive talent management and reward programs.

Asia-Pacific and European acquirers outperform their US counterparts in Q3

Fri, 23 Sep 2011 00:00:00 GMT

Latest data highlights deal makers outperformance compared to non-acquisitive peers, however North American buyers have a poor quarter. Acquirers outperformed the Global MSCI Index in the third quarter of 2011, with Asia-Pacific and European acquirers sharing the top spot in the quarterly analysis performance league, according to latest figures from Towers Watson.

PPF levy announcement: Towers Watson analysis

Fri, 23 Sep 2011 00:00:00 GMT

This week, the Pension Protection Fund (PPF) confirmed that it expects to raise around £550 million through levies in each of the three years from 2012/13, down from £600 million in 2011/12 but still much higher than Parliament envisaged when the PPF was set up (£300 million before indexation).

Financial Performance and Rate Inadequacy Among Driving Forces for P&C Insurers, According to Towers Watson Survey

Wed, 21 Sep 2011 00:00:00 GMT

While North American property & casualty (P&C) insurance chief financial officers (CFOs) said financial performance, capital base and rate inadequacy are the driving forces of the market, their views on those factors differ based on their overall market outlook.

Report points towards light at end of tunnel for UK motor insurers

Tue, 20 Sep 2011 00:00:00 GMT

UK motor insurers that can compile more detailed profiles of individual customers, and how profitable they may prove, are likely to be in the front rank of companies turning around the operating losses of recent years concludes Towers Watson in a new report.

Evidence-Based Change Helping Companies Achieve Greater Success and Competitive Advantage, New Towers Watson Book Reveals

Mon, 19 Sep 2011 00:00:00 GMT

In their new book, Transformative HR: How Great Companies Use Evidence-Based Change for Sustainable Advantage (Jossey-Bass, September 26, 2011), talent management experts Ravin Jesuthasan and John Boudreau reveal how prominent global organizations are redefining HR leadership by using this new approach to optimize efficiency and strategic impact.

Optimal Modeling of Risk and Spending Are Critical for Nonprofits, According to Towers Watson

Wed, 14 Sep 2011 00:00:00 GMT

The simultaneous modeling of asset allocation and spending policies can improve the way in which nonprofit organizations manage the risk/reward trade-off in their investment programs, according to a white paper developed by Towers Watson.

Towers Watson Introduces Updated Version of ResQ Reserving Software

Wed, 14 Sep 2011 00:00:00 GMT

Towers Watson has released an updated version of its ResQ reserving software for property & casualty (P&C) insurers. With ResQ 3.6, Towers Watson has concentrated on expanding the functionality to support the evolving reserving requirements of Solvency II and International Financial Reporting Standards (IFRS), and on further improvements to the user experience.

Commercial Insurance Prices Show Small Increase, According to Towers Watson Survey

Tue, 13 Sep 2011 00:00:00 GMT

In an indication that the market may be hardening, commercial insurance prices in aggregate increased by nearly 1.5% during the second quarter of 2011 -- the first time since the fourth quarter of 2003 that all standard commercial lines showed an uptick in pricing -- according to Towers Watson's most recent Commercial Lines Insurance Pricing Survey (CLIPS).

Variable annuity sales exceed £500 million in the first half of 2011

Mon, 12 Sep 2011 00:00:00 GMT

The value of variable annuity sales in the UK rose to £518 million in the first half of 2011, an increase of 17 per cent over the corresponding period in 2010, according to research by Towers Watson.

Greater analysis holds key to effective reinsurance purchase

Mon, 12 Sep 2011 00:00:00 GMT

Primary insurers, currently caught in the squeeze between softening commercial insurance prices and hardening reinsurance rates, will increasingly need to demonstrate a deeper understanding of their portfolio to secure competitive reinsurance deals, according to Towers Watson.

Towers Watson Investment Strengthens Australian Manager Research Team

Sun, 11 Sep 2011 00:00:00 GMT

Sydney, 12 September 2011 – Leading global consultant Towers Watson has continued to grow its Australian Investment team with the appointment of investment analyst Brian Sparkes.

2012 Open Enrollment to Feature Higher Employee Premiums, New Hurdles for Incentives, Fewer Plan Options

Wed, 7 Sep 2011 00:00:00 GMT

With open enrollment season about to begin, many employers remain committed to providing employee health care benefits.

Australian and Global Pension Funds at their Highest Ever Asset Size

Mon, 5 Sep 2011 00:00:00 GMT

Sydney, 6 September 2011 – Latest research from leading global consultant Towers Watson and Pension & Investments, a leading US investment newspaper, shows that in 2010 the growth in assets of major Australian institutional funds was more than double that of their global peers.

Top global pension funds reach record high in 2010

Mon, 5 Sep 2011 00:00:00 GMT

Total assets of the world’s largest 300 pension funds grew by 11% in 2010 (8% in 2009) to a record high of US$12.5 trillion and up by around US$1.2 trillion from last year’s figure, according to Pensions & Investments and Towers Watson research.

Towers Watson Strengthens Its Southeast Talent and Rewards Team with Addition of Mitch Barnes

Thu, 25 Aug 2011 00:00:00 GMT

Towers Watson (NYSE, NASDAQ: TW), a global professional services company, today announced that industry veteran Mitch Barnes has joined the company’s Talent and Rewards team as a senior consultant in the Southeast region.

Employers Committed to Offering Health Care Benefits Today; Concerned About Viability of Insurance Exchanges

Wed, 24 Aug 2011 00:00:00 GMT

After focusing closely on compliance aspects of health care reform legislation in 2011, employers are planning only moderate changes in their health care plans for 2012, according to a survey of 368 midsize to large companies by Towers Watson.

Moderate Pay Raises on Tap for U.S. Workers, Towers Watson Survey Finds

Mon, 22 Aug 2011 00:00:00 GMT

Reflecting uncertain economic conditions and a conservative cost-management environment, employers are projecting moderate pay raises for employees next year. Employers do expect to fully fund their annual bonuses for workers this year, as corporate profits have increased, according to new survey data by global professional services company Towers Watson.

Towers Watson helps ITV Pension Scheme limit longevity risk

Mon, 22 Aug 2011 00:00:00 GMT

Towers Watson, which advised the ITV Pension Scheme on its longevity swap with Credit Suisse, says the conditions are right for more pension funds to reduce their exposure to longevity risk over the coming months.

Towers Watson Appoints Conrad Lagasca Vice President in Its Reinsurance Brokerage Business

Thu, 18 Aug 2011 00:00:00 GMT

Towers Watson has appointed Conrad Lagasca vice president in its reinsurance brokerage business. Based in San Francisco, he reports to Hugo Kostelni, executive vice president, reinsurance brokerage.

Rule change invites employers to freeze final salary schemes sooner rather than later

Thu, 18 Aug 2011 00:00:00 GMT

Employers who plan to close final salary pension schemes to existing members have an extra reason to do so no later than 5 April 2012 as a result of Government proposals published this week, according to Towers Watson.

Doubling of pension deficits casts cloud of uncertainty over funding negotiations

Wed, 17 Aug 2011 00:00:00 GMT

Turmoil in the financial markets has made the outcome of funding negotiations between employers and pension scheme trustees much less certain, according to Towers Watson.

Towers Watson Sees Bumpy Path to Global Economic Recovery

Tue, 9 Aug 2011 00:00:00 GMT

The dramatic financial developments over the past week, including S&P’s downgrading of the U.S. long-term credit rating, reflect an inherent fragility in the global economy that means potentially violent and difficult-to-predict market moves are likely for a number of years, according to global professional services company Towers Watson.

Towers Watson Partners With Extend Health on Retiree Medical Solution

Tue, 2 Aug 2011 00:00:00 GMT

Towers Watson and Extend Health Inc., which operates the largest private Medicare exchange in the country, announced today that they have formed a strategic alliance.

Towers Watson Appoints Jay Woods North America Regional Leader of Its Brokerage Business

Tue, 2 Aug 2011 00:00:00 GMT

Global professional services company Towers Watson has named John P. “Jay” Woods, III, North America regional leader of its brokerage business, effective September 1. Woods, based in New York, will report to William Eyre, Jr., managing director of Towers Watson’s brokerage business.

Towers Watson Investment Expands – Three New Appointments

Mon, 1 Aug 2011 00:00:00 GMT

Sydney, 2 August 2011 – Leading global consultant Towers Watson has made three new appointments to its Australian Investment team.

U.S. Insurers Weigh Impact on Portfolios, Interest Rates and Equity Markets as Debt Deal Awaits Final Approval, Finds Towers Watson Survey

Mon, 1 Aug 2011 00:00:00 GMT

As they watched Congress struggle to put a debt deal in place by the Tuesday, Aug. 2 deadline, U.S. insurers cited concerns over their companies’ portfolios, short- and long-term interest rates and a decline in equity markets, according to a Towers Watson survey.

Towers Watson Introduces Updated Version of MoSes Financial Modeling Software

Thu, 28 Jul 2011 00:00:00 GMT

To help life insurers improve risk and capital management, global professional services company Towers Watson has released an updated version of its MoSes financial modeling software.

Inaugural Say-on-Pay Proxy Season Brings Few Problems for Most Companies, Although Many Plan Changes for 2012, Towers Watson Survey Finds

Thu, 28 Jul 2011 00:00:00 GMT

The first-ever say-on-pay proxy season had relatively little immediate impact on most U.S. public corporations, although the vast majority of companies are either planning or considering making changes to their executive pay-setting process and overall preparations for next year’s proxy season, according to a new survey by Towers Watson.

Towers Watson Unveils New Investment Research Structure

Wed, 27 Jul 2011 00:00:00 GMT

Hong Kong, 5 July 2011 - Towers Watson has combined its three investment research teams into one to better serve clients in an environment where the lines between investment opportunities are becoming increasingly blurred.

FSA guidance: Additional with-profits policyholder protection may come at a cost

Mon, 25 Jul 2011 00:00:00 GMT

Proposals from the Financial Services Authority (FSA) to amend the rules and guidance designed to improve fairness for with-profits policyholders are in principle welcome but need further consideration in some areas according to Towers Watson.

Many Insurers to Take Aggressive Investment Strategies, According to Towers Watson

Thu, 21 Jul 2011 00:00:00 GMT

Nearly half (46%) of North American insurers and reinsurers said they plan on being more aggressive in their respective investment strategies over the next year, according to findings from a new Towers Watson survey, Insurer Investment Practices.

Towers Watson Launches Executive Compensation Blog

Mon, 18 Jul 2011 00:00:00 GMT

Towers Watson, a global professional services company, today announced the launch of Executive Pay Matters, a company blog that will provide frequent updates of information and insights into the latest trends and issues in executive compensation programs and policies.

Towers Watson Appoints Lim Chin Han as New Managing Director for Malaysia

Sun, 17 Jul 2011 00:00:00 GMT

Kuala Lumpur, 1 July 2011 - Towers Watson, a leading global professional services company, today announced the appointment of Lim Chin Han as Managing Director for Malaysia.

Towers Watson’s Implemented Investment Services Top $50 Billion Mark

Thu, 14 Jul 2011 00:00:00 GMT

Assets under advisement for global professional services company Towers Watson’s implemented investment services have passed the $50 billion mark. These services combine investment strategy and asset/liability modeling (ALM) capabilities with the fiduciary management of investment portfolio and are designed to appeal to plans of all sizes, particularly those seeking a transparent approach for total plan management.

Transport safety measures save lives and reduce accidents costs in Middle East countries

Thu, 14 Jul 2011 00:00:00 GMT

Motor insurance losses in a number of Middle East countries have dropped sharply thanks to traffic safety measures that have reduced accident and casualty rates by between 30%-50% over the last four years.

Towers Watson appoints Michael Murphy

Wed, 13 Jul 2011 00:00:00 GMT

Towers Watson, has appointed Michael Murphy as a senior leader in its Risk Consulting and Software (RCS) business. Murphy, former Aviva Europe SE managing director, will be based in Dublin and will have a portfolio of activities in his role, including responsibility for the management of the RCS businesses in Ireland and Continental Europe and leading large client projects.

Pensions funds' global alternative assets close in on $1 trillion mark

Mon, 11 Jul 2011 00:00:00 GMT

Alternative assets managed on behalf of pension funds by the world’s largest managers grew 16% in 2010 to US$952bn (from US$817bn in 2009), according to global research produced by Towers Watson in conjunction with the Financial Times. At the same time total assets under management (AuM) for these managers increased by 12% to US$1,904bn; and the research shows that half of their assets are now pension fund assets.

Towers Watson appoints Paul Morris as regional leader for EMEA

Thu, 7 Jul 2011 00:00:00 GMT

Towers Watson has appointed Paul Morris as regional leader for Europe, Middle East and Africa (EMEA) to succeed Babloo Ramamurthy who is retiring after 34 years at the company. The appointment will be effective from 1 September, 2011.

Towers Watson combines all investment research teams

Tue, 5 Jul 2011 00:00:00 GMT

Towers Watson has combined its three investment research teams into one to better serve clients in an environment where the lines between investment opportunities are becoming increasingly blurred. The three teams - Manager Research, Asset Research and the Thinking Ahead Group – together comprise over 150 professionals and will be led by Craig Baker, who retains overall leadership of the Manager Research team.

Towers Watson Capital Markets Closes on $11.95 Million Catastrophe Bond

Tue, 5 Jul 2011 00:00:00 GMT

Towers Watson Capital Markets (TWCM), Inc., has closed a new $11.95 million private placement catastrophe bond. This transaction marks a very important step in the convergence market, as it enables a middle-market insurance company to access the capital markets for its risk management program.

John Machon joins Towers Watson's EMEA pensions consulting business

Mon, 4 Jul 2011 00:00:00 GMT

Towers Watson has appointed John Machon in the new role of head of business development for the firm’s Retirement Solutions business in Europe, Middle East and Africa (EMEA). John Machon, well known in the industry, is joining Towers Watson after seven years at Aon Hewitt as Chief Commercial Officer for EMEA. During this period he was a member of the Executive Operating Committee responsible for EMEA strategy and management.

Towers Watson Announces Retirement of Latin America Leader Luiz Roberto Gouvêa

Wed, 29 Jun 2011 00:00:00 GMT

Towers Watson (NYSE, NASDAQ: TW), a global professional services company, today announced that Luiz Roberto Gouvea, its leader in Latin America, is retiring from the company at the end of this month.

European and US acquirers continue to outperform

Tue, 28 Jun 2011 00:00:00 GMT

European acquirers have continued to outperform the market, according to latest figures from Towers Watson. Data revealed in the latest issue of the Quarterly Deal Performance Monitor (QDPM) for Q2 of 2011 illustrates that European acquirers benefited from an average share-price return of 3.9 percentage points (pp) above the MSCI Regional Index.

Employers to Devote More Time to Retirement Plan Governance, Towers Watson Survey Finds

Mon, 27 Jun 2011 00:00:00 GMT

Faced with rising benefit costs and increased regulatory complexity, four out of 10 U.S. employers expect to spend more time governing their employer-sponsored retirement plans over the next two years, according to a survey by Towers Watson (NYSE, NASDAQ: TW), a global professional services company. The survey was based on responses from 245 midsize and large employers that sponsor defined benefit and/or defined contribution retirement plans. The survey also found that while most employers are concerned with retirement plan compliance, many are not taking affirmative steps to help them manage those risks.

Bodily injury claims test insurers’ mettle

Fri, 24 Jun 2011 00:00:00 GMT

Escalating claims have continued to decimate the results of many UK motor insurers, Towers Watson’s analysis of recent industry data has found.

Towers Watson DriveAbility^SM: UBI Taking Hold Among Auto Insurers

Wed, 22 Jun 2011 00:00:00 GMT

As the concept of usage-based auto insurance (UBI) becomes increasingly prevalent, global professional services company Towers Watson is working with several large insurers, and has gathered and analyzed information from thousands of vehicles throughout the United States as part of its DriveAbilitySM service offering.

Towers Watson Survey: Insurance Companies More Successful at Strengthening Competitive Position Through M&As

Mon, 20 Jun 2011 00:00:00 GMT

While consolidation and strengthening competitive position is mentioned most frequently as a business reason for mergers and acquisitions (M&As) across all industries, U.S. insurers believe that they are more successful at accomplishing that goal compared to their non-insurance counterparts, according to findings from global professional services company Towers Watson’s recent M&A Role of the Manager survey.

Life Insurance CFOs Concerned About New U.S. Statutory Regulations, According to Towers Watson Survey

Wed, 15 Jun 2011 00:00:00 GMT

While North American life insurance chief financial officers (CFOs) are aware that their companies will be subject to U.S. principle-based statutory regulations, most said they have concerns regarding the new rules — both in terms of their readiness as well as the impact on the competitive landscape — according to data from the latest survey from global professional services company Towers Watson.

Commercial Insurance Prices Remain Flat, According to Towers Watson Survey

Mon, 13 Jun 2011 00:00:00 GMT

Commercial insurance prices were relatively flat for the ninth consecutive quarter, and new data confirm the deterioration of loss ratios in accident-year 2010, according to global professional services company Towers Watson's most recent Commercial Lines Insurance Pricing Survey (CLIPS).

Employers Cite Talent and Performance Management Technology as Most Critical HR Service Delivery Issue in 2011, Towers Watson Survey Finds

Mon, 13 Jun 2011 00:00:00 GMT

With expectations that hiring activity will increase this year and next, HR departments at a large number of U.S. employers say that talent and performance management technology systems will be one of the most critical HR service delivery issues they will face in 2011, according to an annual survey conducted by Towers Watson.

Ignoring social media adds to cyber risk for companies

Mon, 13 Jun 2011 00:00:00 GMT

The scale of social media, the nature of the interactions it can lead to and the risks posed to organisations by inappropriate employee activities should not be ignored by companies, according to Towers Watson.

Employers Acting Now to Take Advantage of New Retiree Medical Solutions

Thu, 9 Jun 2011 00:00:00 GMT

Rapid development of post-health care reform retiree medical options is empowering employers to embrace bold, new solutions to help active employees prepare for retirement and enable current retirees to obtain more cost-effective health care coverage, according to nearly 250 large employers responding to the Sixth Annual Employer Survey on Retiree Medical Strategy, conducted jointly by Towers Watson.

Seismic shift needed as insurers’ workload reaches tipping point

Mon, 6 Jun 2011 00:00:00 GMT

The workload associated with financial reporting in the insurance industry is fast reaching maximum capacity as companies implement new processes and develop new tools in preparation for Solvency II, International Financial Reporting Standards (IFRS) and other regulatory changes. A recent study by Towers Watson warns that the insurance industry will continue to struggle with compliance and reporting unless they move away from the commonly used manual-based processes to more industrialised technologies.

Towers Watson expands reinsurance business to bolster claims expertise

Wed, 1 Jun 2011 00:00:00 GMT

Towers Watson has strengthened its presence in the London reinsurance market through two appointments to its claims team. The new hires, Terry Williams and Lee Stannard, join in response to growing opportunities in the broker replacement services area.

Corporate risk: a sting in the tail for pension funds?

Tue, 31 May 2011 00:00:00 GMT

Pension funds should review their investment strategies to determine whether their assets would mitigate or exacerbate the impact of sponsor impairment following an extreme event, according to an article, The sting in the tail, in Towers Watson’s Global Investment Matters publication.

Rising demand for broker replacement reflected by latest Towers Watson win

Wed, 25 May 2011 00:00:00 GMT

Towers Watson continued to strengthen its presence in the growing broker replacement market by winning the ACE US APH account. ACE US moved their business to join other leading London companies as purchasers of broker replacement services from Towers Watson.

Planning for Pensions Reform is in full swing by FTSE 100 companies

Mon, 16 May 2011 00:00:00 GMT

The vast majority of FTSE 100 companies (90%) have already considered the impact the forthcoming Pensions Reform changes will have on their businesses and employee benefit provision according to annual Towers Watsons research. The company’s latest FTSE100 Survey of Defined Contribution (DC) Pension Provision shows that only 8%, down from a quarter the year before, believe that no changes need to be made to their current arrangements in order to comply with the new requirements.

Towers Watson and Link Group Partnership Provides New Administration Alternative

Mon, 16 May 2011 00:00:00 GMT

Sydney, 17 May 2011 – The recent formalisation of a partnership between leading global professional services firm Towers Watson and the Link Group means that corporate, public sector and hybrid industry funds now have an alternative when choosing an administration provider.

Most Multinationals See Workforce Health as a Higher Priority in Next Few Years, Towers Watson Survey Finds

Mon, 16 May 2011 00:00:00 GMT

Faced with rising health care costs and a growing concern over the health of their employees, a vast majority of multinational organizations plan to place a higher priority on workforce health initiatives and the overall well-being of their workers over the next few years, according to a new survey by Towers Watson (NYSE; NASDAQ: TW), a global professional services company. The survey also found that wellness programs have become prevalent worldwide as more multinationals promote health and well-being.

Tax Incentives on Infrastructure Not ‘Be All and End All’ for Super Funds

Wed, 11 May 2011 00:00:00 GMT

Sydney, 12 May 2011 – Tax incentives designed to promote take-up of infrastructure assets by institutional investors announced in the federal budget will make the asset class more attractive, but leading global professional services firm Towers Watson says the underlying structure of the investment must remain the number one consideration.

Towers Watson Introduces Updated Version of MoSes Financial Modeling Solutions for U.S. Life Insurers

Wed, 11 May 2011 00:00:00 GMT

Towers Watson’s MoSes U.S. Life Modeling Suite (USLMS) release 1.1 helps insurers better meet regulatory, rating agency and competitive challenges.

Towers Watson Appoints Donna Bahr-Landsea as Florida Managing Consultant

Mon, 9 May 2011 00:00:00 GMT

Towers Watson (NYSE, NASDAQ: TW), a global professional services company, announced today the appointment of Donna Bahr-Landsea as managing consultant for Florida, which includes Towers Watson’s Miami and Tampa offices. In this role, Bahr-Landsea will have overall responsibility for client satisfaction, marketplace development, financial management and associate development.

Employers to let members access more of their pensions early in retirement

Mon, 9 May 2011 00:00:00 GMT

Employers are preparing to provide members of final salary pension schemes with ways to access more of their pensions earlier in retirement, according to Towers Watson. The firm says that new options for members of defined benefit (DB) schemes will be a consequence of less stringent rules on how defined contribution (DC) savings must be used to provide a retirement income.

Weak risk culture equals weak organisation

Mon, 9 May 2011 00:00:00 GMT

Almost half of insurers do not have an effective way of measuring and managing the risk culture within their organisation, according to a Towers Watson poll. The firm warns that, in anticipation of the new Solvency II regime, insurance companies need to take steps to strengthen their risk cultures as regulators and rating agencies increasingly focus on this, as part of their ongoing risk assessment.

Top performance for European acquirers

Fri, 6 May 2011 00:00:00 GMT

The latest results of the quarterly M&A research, commissioned by global professional services company Towers Watson and based on analysis by Cass Business School, reveals this is the highest level of outperformance for European acquirers in the past three years, since the first QDPM was first published in Q1 2008 by professional services company Towers Watson.

Towers Watson Survey: Despite Increasing Cyber Threats, Most Companies Are Not Buying Network Liability Policies

Mon, 2 May 2011 00:00:00 GMT

Towers Watson's latest risk manager survey finds that despite increasing cyber threats, most companies are not buying network liability policies. Further, most companies are relying on internal IT teams to assess cyber risks. The survey also finds that implementation of ERM remains same as last year, but more companies are identifying and quantifying key risks.

Towers Watson Names Brendan Osean Vice President in Its Insurance Brokerage Business

Thu, 28 Apr 2011 00:00:00 GMT

Osean will be responsible for overseeing the design and placement of commercial property insurance programs for a wide range of U.S. and international companies, as well as those firms that maintain U.S., Bermuda and European captives.

Low Interest Rates Contribute to Pension Challenges While Funding Levels Improved Modestly in 2010, Towers Watson Analysis Finds

Thu, 28 Apr 2011 00:00:00 GMT

Pension funding levels at large U.S. companies improved modestly at the end of last year, largely due to the moderate stock market gains and employer contributions. However, lower interest rates increased pension liabilities and continued to suppress funding levels to well below those in 2007, when the average pension plan was fully funded, according to new analysis by Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company.

Survey shows growing interest in telematics insurance

Wed, 20 Apr 2011 00:00:00 GMT

Over two thirds of UK drivers aged over 35 would consider having a telematics monitoring device fitted in their car to save money on their insurance, new consumer research commissioned by Towers Watson has shown. Willingness to potentially participate in a pilot scheme was higher still at 77%.

Early access to pensions kicked into the long grass

Tue, 19 Apr 2011 00:00:00 GMT

Today’s announcement that the Government will not allow people to access pension savings before retirement reflects several drawbacks with the idea, according to Towers Watson.

Transport for London Pension Fund chooses Towers Watson

Fri, 15 Apr 2011 00:00:00 GMT

The trustees of the TfL Pension Fund have reappointed Towers Watson as actuarial advisers following a comprehensive review. As part of the review, the trustees changed investment advisers appointing Towers Watson in this capacity.

EU rule changes could give employers less time to pay off pension deficits

Fri, 15 Apr 2011 00:00:00 GMT

New proposals to create a harmonised funding regime for pension schemes throughout the European Union could force UK employers to pay off deficits more quickly, according to Towers Watson.

Pressure on Staff Retention in Professional Services

Thu, 14 Apr 2011 00:00:00 GMT

Professional service firms need to ramp up their reward and development programs to engage and retain talent, according to the latest research from Towers Watson.

CEO Compensation Rebounded in 2010, Towers Watson Proxy Analysis Finds

Tue, 12 Apr 2011 00:00:00 GMT

Compensation for chief executive officers at the nation’s biggest corporations rebounded strongly in 2010 due largely to improved company performance and a rising stock market, according to a new analysis of proxies conducted by Towers Watson (NYSE; NASDAQ: TW), a global professional services company. The analysis also found that most companies are receiving strong shareholder support for their say-on-pay proposals.

Towers Watson Boosts Reinsurance Brokerage Business With the Appointments of Darrell Comis and David J. Albert

Tue, 12 Apr 2011 00:00:00 GMT

Towers Watson has named Darrell Comis, senior vice president, and David J. Albert, vice president, in its Reinsurance Brokerage business, the world’s fourth largest.

Car insurers continue to apply brakes to price rises

Tue, 12 Apr 2011 00:00:00 GMT

Price rises for comprehensive and third party, fire and theft (TPFT) car insurance have slowed for the third quarter running according to the latest Confused.com/Towers Watson Car Insurance Price Index.

Towers Watson’s Mark Mactas to Retire by End of Calendar Year 2011

Mon, 11 Apr 2011 00:00:00 GMT

Towers Watson has announced that president and chief operating officer Mark Mactas has decided to retire by the end of calendar year 2011. Mactas, 58, has provided leadership in a number of geography and line-of-business roles during his 31-year tenure with the company. He served as Towers Perrin chief executive officer before stepping into the role of Towers Watson president and chief operating officer after the merger of Towers Perrin and Watson Wyatt Worldwide in 2010.

Helen Dowsey boosts Towers Watson’s DC offering

Thu, 7 Apr 2011 00:00:00 GMT

Towers Watson, a leading global professional services company, has appointed Helen Dowsey as a senior investment consultant in its expanding Defined Contribution (DC) business.

Defined Benefit Pensions at a Tipping Point, Towers Watson Survey Finds

Wed, 6 Apr 2011 00:00:00 GMT

As retirement savings adequacy and security becomes an election issue, a new survey of more than 150 Canadian pension plan sponsors from global professional services firm Towers Watson (NYSE, NASDAQ: TW), indicates that just over half (51%) of the private sector Defined Benefit (DB) plan respondents have now converted their plans to Defined Contribution (DC) arrangements for current or future employees  up from 42% in 2008. The study suggests that this trend shows no sign of relenting.

Complinet HR and Professional Pensions recognised at Towers Watson’s Awards for Excellence in HR Journalism

Wed, 6 Apr 2011 00:00:00 GMT

Online news service Complinet HR and pensions publication Professional Pensions shared top honours at the 2011 Towers Watson Awards for Excellence in HR Journalism at an event in London last evening.

Green Paper sidesteps central questions on State Pension Age

Tue, 5 Apr 2011 00:00:00 GMT

Yesterday’s Green Paper scarcely discusses the most fundamental questions the Government would need to address before linking the State Pension Age to life expectancy, according to Towers Watson.

Towers Watson Completes More Than $1 Billion in Transactions for Funding Pensions Through Captives

Tue, 5 Apr 2011 00:00:00 GMT

Towers Watson (NYSE, NASDAQ: TW), a global professional services company, announced today that it has completed more than $1 billion in transactions for the funding of pension benefits through captive insurance companies. Additionally, experts at Towers Watson expect a growing number of multinationals to express interest in this innovative approach to funding pension benefits, which they developed to help companies better manage the investment and risks of their defined benefit obligations.

Japan Earthquake and Resulting Tsunami Will Not Deeply Impact the Capital of Japan’s Insurance Industry or the Global Reinsurance Market, According to Towers Watson

Mon, 4 Apr 2011 00:00:00 GMT

The March 11 magnitude 9.0 Japanese earthquake -- the fifth largest ever recorded worldwide -- and subsequent tsunami will not have a devastating effect on either the capital of the Japanese insurance industry or the international reinsurance market.

Stress-test pressure offset by chance to gauge Solvency II readiness

Mon, 4 Apr 2011 00:00:00 GMT

The EU-wide stress test of the insurance sector, recently published by the European Insurance and Occupational Pensions Authority (EIOPA), will be a useful exercise to provide greater understanding of the Solvency II financial environment according to Towers Watson.

Towers Watson Named to 2011 Global Outsourcing 100 List

Thu, 31 Mar 2011 00:00:00 GMT

Towers Watson (NYSE, NASDAQ: TW), a global professional services company, has been named to the 2011 Global Outsourcing 100 List by the International Association of Outsourcing Professionals® (IAOP®).

Towers Watson expands in Turkey

Tue, 29 Mar 2011 00:00:00 GMT

Towers Watson has expanded its presence in Turkey by establishing a new subsidiary – Towers Watson Danışmanlık Ltd. Şti – in Istanbul. It has also appointed Süha Alıcı, who has been with Towers Watson since 2007, as Managing Consultant to lead and grow the Turkish business.

Towers Watson announces launch of one-stop, impartial service for MPF members

Mon, 28 Mar 2011 00:00:00 GMT

Hong Kong, Monday, 28 March 2011 – Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company, is launching a one-stop resource for information on MPF that includes a quarterly magazine and a portal named MPFeXPRESS.com to help MPF members monitor the appropriateness of their MPF investment arrangements. The Towers Watson initiative aims to provide comprehensive and unbiased information to empower MPF members when comparing MPF schemes, service providers and funds, and is launched today in its magazine and website formats.

Towers Watson Names Gail McKee Chief Human Resources Officer

Thu, 24 Mar 2011 00:00:00 GMT

Towers Watson (NYSE, NASDAQ: TW), a global professional services company, has appointed Gail McKee as chief human resources officer. In this role, McKee will lead the global human resources function with responsibility for all aspects of the company’s compensation, benefits and other human resource programs.

Commercial Insurance Prices Remain Flat for Eighth Consecutive Quarter, According to Towers Watson Survey

Thu, 24 Mar 2011 00:00:00 GMT

Commercial insurance prices were relatively flat for the eighth consecutive quarter, while accident-year loss ratios deteriorated relative to the same period in the prior 12 months, according to Towers Watson's most recent Commercial Lines Insurance Pricing Survey (CLIPS).

Towers Watson Launches New iPad Application

Wed, 23 Mar 2011 00:00:00 GMT

Towers Watson, a global professional services company, announced today the launch of TWGlobal50, a unique and searchable application for the iPad. The free app is designed to provide human resource and benefit professionals with instant access to critical human capital data from around the globe.

Employers to exit defined benefit provision as contracting out ends after half a century

Wed, 23 Mar 2011 00:00:00 GMT

The Budget’s indication that defined benefit pension schemes will soon be unable to contract out of the State Second Pension will lead to more employers closing these schemes to existing members, according to Towers Watson.

Towers Watson appoints Rory O’Brien to lead its Risk Consulting and Software business

Tue, 22 Mar 2011 00:00:00 GMT

Towers Watson has appointed Rory O’Brien as global Risk Consulting and Software leader, effective immediately. He replaces Steve Taylor-Gooby, who is stepping down from the role after 25 years at the company.

Quarter of FTSE 100 companies offer DC only

Mon, 21 Mar 2011 00:00:00 GMT

The vast majority of FTSE 100 companies continue to use a defined contribution scheme as their main pension scheme, according to Towers Watson’s annual survey of FTSE 100 companies.

QIS5 survey reveals that communicating risk appetite is a challenge for insurers

Thu, 17 Mar 2011 00:00:00 GMT

A third of insurers believe their investors still do not understand their own risk appetite, according to a recent survey by Towers Watson.

Towers Watson responds to QIS5 results announced by EIOPA

Tue, 15 Mar 2011 00:00:00 GMT

The results of the QIS5 study, announced yesterday by the European Insurance and Occupational Pensions Authority (EIOPA), are welcomed by Towers Watson. The results showed that overall the insurance industry remains well capitalized under the QIS5 study.

Insurers need help to reverse pressures on motor premiums

Fri, 11 Mar 2011 00:00:00 GMT

Responding to the conclusions of the House of Commons’ Transport Select Committee’s report, ‘The cost of motor insurance’, Towers Watson has welcomed the openness to tackle the compensation culture that has contributed to rising claims but cautioned that decisive government intervention is needed to halt upwards price pressures.

Defined Benefit Plans Outperformed 401(k) Plans During 2008 by Largest Margin Since Early 2000s, Towers Watson Analysis Finds

Thu, 10 Mar 2011 00:00:00 GMT

Rates of return for defined benefit (DB) pension plans outperformed those for defined contribution (DC) plans — predominantly self-directed 401(k) plans — in 2008 by the widest margin since the beginning of the decade, according to a new analysis by Towers Watson, a global professional services company.

Employers Taking Bold Action to Manage Health Costs and Offer Affordable Care, Towers Watson/National Business Group on Health Survey Finds

Thu, 10 Mar 2011 00:00:00 GMT

Over the past year, employers have focused their efforts on immediate compliance with health reform, but looking ahead to 2012 and beyond, many employers are pursuing bolder actions and implementing health program changes to hold employees and providers more accountable in the struggle to manage costs and improve worker health, according to findings from the 16th Annual Towers Watson/National Business Group on Health Employer Survey on Purchasing Value in Health Care.

Public sector pensions to remain very valuable benefit

Thu, 10 Mar 2011 00:00:00 GMT

Lord Hutton’s report leaves a lot to play for when it comes to how much public sector pensions will be worth to employees and how much they will end up costing taxpayers, according to Towers Watson. However, the report’s focus on the adequacy of public sector employees’ retirement incomes suggests that these pensions will remain very valuable benefits.

Variable annuity sales near £1 billion mark in 2010

Thu, 10 Mar 2011 00:00:00 GMT

The value of variable annuity sales in the UK fell 9% to £947.5 million in 2010 compared with 2009, while the numbers of policies sold during the same period declined by 14%, according to research by Towers Watson.

Towers Watson outlines principles to guide reform of Canada’s retirement income system

Wed, 9 Mar 2011 00:00:00 GMT

The debate on national pension reform has changed gears with the Federal Government’s proposal to introduce Pooled Registered Pension Plans (PRPPs). Without sufficient support from the provinces to expand the Canada Pension Plan (CPP), the federal government is proposing a private sector solution at this stage, postponing any CPP expansion until the necessary provincial support is secured.

Hedge funds and equities in demand in 2010

Tue, 8 Mar 2011 00:00:00 GMT

The number of equity mandates awarded by Towers Watson’s clients worldwide in 2010 increased by over 30% from 2009, while the number of hedge fund mandates grew by 50% during the same period.

Towers Watson increases stake in leading South African consultancy

Mon, 7 Mar 2011 00:00:00 GMT

Towers Watson has increased its shareholding in Fifth Quadrant, the independent South African actuarial and employee benefits consultancy, from 20 per cent to 40 per cent.

How Hutton could cut the cost of pensions already promised to public sector employee

Fri, 4 Mar 2011 00:00:00 GMT

Next week’s report from Lord Hutton could pave the way for the Government to reduce the cost of pensions already owed to public sector employees, not just the cost of pensions promised in future, according to Towers Watson.

Pension schemes to pay high earners’ tax bills

Thu, 3 Mar 2011 00:00:00 GMT

New rules announced today make it likely that high earners who exceed new limits on pension contributions will choose to have the resulting tax bill deducted from their future pension benefits, according to Towers Watson.

Global recovery on track say fund managers

Tue, 1 Mar 2011 00:00:00 GMT

Fund managers are bullish about the prospects for public equities and emerging markets in 2011, but have bearish views of nominal government bonds according to a survey of investment managers conducted by global professional services firm Towers Watson.

Insurers, pensions providers and customers face up to fall-out from gender ruling

Tue, 1 Mar 2011 00:00:00 GMT

The main short-term effect of today’s European Court of Justice ruling is likely to be significant increases in insurance prices for both men and women in different market segments, according to Towers Watson.

Towers Watson Responds to Lloyd’s Solvency II Timetable

Mon, 28 Feb 2011 00:00:00 GMT

With two months of the year already gone, Lloyd’s syndicates face an intensive period of activity if they are to meet the demanding Solvency II implementation schedule for 2011, according to Towers Watson.

Two thirds of private sector employees still not in a workplace pension

Fri, 25 Feb 2011 00:00:00 GMT

New figures from the Office for National Statistics highlight a continuing decline in the proportion of private sector employees saving in workplace pensions, according to analysis from Towers Watson.

Towers Watson Appoints Cathy Loose as Benefits Business Development Leader for Asia Pacific

Thu, 24 Feb 2011 00:00:00 GMT

ASIA PACIFIC, 22 February, 2011 – Towers Watson (NYSE, NASDAQ: TW), a global professional services company, announced today the appointment of Cathy Loose as Benefits Business Development Leader, Asia Pacific. Loose, based in Japan, is responsible for taking a broad range of business solutions to the Towers Watson growing client base in the Asia Pacific region.

U.S. Workers to Receive Largest Merit Increases Since Start of Financial Crisis, Towers Watson Survey Finds

Thu, 24 Feb 2011 00:00:00 GMT

U.S. employers are planning to give employees this year the largest merit increases since the start of the financial crisis, according to a new survey by Towers Watson. The survey also found that the hiring freezes that were put into place during the recession are beginning to thaw, especially for professional and technical workers, and positions that require employees with critical skills.

Growing Number of Companies Increasing Directors and Officers Liability Limits, According to Towers Watson Survey

Tue, 22 Feb 2011 00:00:00 GMT

Driven by the potential for litigation from a broad range of constituents and a heightened concern over the threat of regulatory investigations, more companies across a wide range of industries are increasing their directors and officers (D&O) liability limits.

Health Management Drops as a Priority for Employees Amid Competing Pressures, Towers Watson Survey Finds

Wed, 16 Feb 2011 00:00:00 GMT

As employers try to engage employees in health management programs to slow health care cost inflation, fewer employees are placing a high priority on managing and improving their health, according to a recent survey of more than 9,000 employees at large and midsize employers conducted by Towers Watson.

Towers Watson Investment Strengthens its Team, Announcing Four New Appointments

Mon, 14 Feb 2011 00:00:00 GMT

Sydney, 15 February 2011 – Leading global consultant Towers Watson has made four new appointments to its Australian Investment team: one senior investment consultant and three analysts.

Record sales for enhanced annuities in 2010

Thu, 10 Feb 2011 00:00:00 GMT

The value of enhanced annuity sales in the UK rose to £2.47 billion last year, an increase of 38 per cent on 2009, according to research by Towers Watson. Sales of enhanced annuities in the second half of 2010 were £1.21 billion; down 4% on the first half of the year.

Managers Critical to Successful M&A but Under-used

Tue, 8 Feb 2011 00:00:00 GMT

Companies are under-utilising front-line managers during the integration process in corporate transactions, warns global consultancy Towers Watson following the findings of its latest study.

Managers Critical to Successful M&A, but Underleveraged, Towers Watson Study Finds

Tue, 8 Feb 2011 00:00:00 GMT

Companies are underutilizing frontline managers in key phases of the integration process in corporate transactions, according to a recent study by Towers Watson. This creates a more difficult transition for employees, with consequences like turnover of key talent, disengagement and reduced productivity, indifferent or even hostile customer service, and greater incidence of errors or waste.

Omnibus II Directive suggests far more wide ranging transitional measures

Mon, 7 Feb 2011 00:00:00 GMT

The proposed amendments to the Solvency II Directive from Omnibus II include transitional measures that seem far more wide ranging than had previously been alluded to in QIS5 and other discussions, according to global professional services company Towers Watson.

Utilization of ERM Techniques Leads to Changes Among U.S. Insurers, According to Towers Watson Survey

Mon, 7 Feb 2011 00:00:00 GMT

ln spite of the challenges of embedding enterprise risk management (ERM) programs, the proportion of U.S. respondents indicating that their ERM program has resulted in key business changes has increased significantly.

Global pension fund assets hit record high in 2010

Mon, 7 Feb 2011 00:00:00 GMT

Global institutional pension fund assets in the 13 major markets increased by 12% during 2010 to reach a new high of US$ 26 trillion according to Towers Watson’s Global Pension Assets Study released today.

Employers Boosted Tech-based and Personal Employee Communication during Open Enrollment, Towers Watson Survey Finds

Mon, 7 Feb 2011 00:00:00 GMT

U.S. employers increased their use of technology-based communication with workers during the recent open enrollment benefit season, and also boosted their personal face-to-face communication with employees, according to a new survey by Towers Watson, a global professional services company.

Towers Watson Expands, Strengthens Its Investment Business

Thu, 3 Feb 2011 00:00:00 GMT

Industry veteran Michael Hall to join the company; five others named to new, broadened responsibilities

Employers short-changed by pension rebates

Thu, 3 Feb 2011 00:00:00 GMT

New contracted-out rebate levels announced by the Department for Work and Pensions today are another blow for employers sponsoring final salary pension schemes, according to Towers Watson.

Towers Watson Appoints Jonathan Smith as Pacific Northwest Region Managing Consultant

Wed, 2 Feb 2011 00:00:00 GMT

Towers Watson, a global professional services company, announced today the appointment of Jonathan Smith as managing consultant for the Pacific Northwest. In this role, Smith will have overall responsibility for the management of Towers Watson’s Pacific Northwest Region.

Towers Watson completes acquisition of EMB

Tue, 1 Feb 2011 00:00:00 GMT

Towers Watson, a leading global professional services company, has completed the acquisition of EMB, a non-life consulting and software company, having satisfied customary closing conditions and regulatory approvals. The transaction, which was announced on 10 November 2010, will result in the formation of the largest non-life actuarial consultancy in Europe and one of the largest in the world.

Implementation and Usage of Predictive Modeling Techniques Positively Impacting P&C Insurers’ Bottom Line, According to Towers Watson Survey

Mon, 31 Jan 2011 00:00:00 GMT

Property & casualty insurance carriers currently utilizing predictive modeling continue to see positive ongoing improvements in bottom-line results, as predictive modeling continues to gain momentum among insurers.

Towers Watson Offers Resolutions to Retain Talent, Engage Workers in 2011

Thu, 27 Jan 2011 00:00:00 GMT

With signs that hiring activity in the United States is beginning to pick up, companies could soon face a challenge they haven’t experienced in a few years — retaining the talented employees they need to move from recovery to growth, according to experts at Towers Watson, a global professional services company.

Towers Watson further boosts property and casualty market expertise

Mon, 24 Jan 2011 00:00:00 GMT

Towers Watson has strengthened its presence in the increasingly important Florida property and casualty market (P&C) with the appointment of John Tyszkiewicz to the company’s North American Reinsurance business in London. Before joining Towers Watson he worked in both North American and European casualty teams at Guy Carpenter and most recently in the North American property reinsurance team at Aon Benfield.

Company accounts bank £15bn pension liability windfall from CPI change

Mon, 24 Jan 2011 00:00:00 GMT

Many of the UK’s largest companies are preparing to record windfall gains in their accounts to reflect changes to the way that some defined benefit pensions will increase with inflation in future, according to Towers Watson. Based on its experience so far, the consultant estimates that the total impact on FTSE100 pension liabilities could be in excess of £15 billion.

Market Rewards Deal Makers — Particularly Experienced Deal Makers — Even in Turbulent Times, According to Towers Watson Analysis

Mon, 24 Jan 2011 00:00:00 GMT

Corporate deal makers once again outperformed their non-acquisitive peers on a global basis in the fourth quarter of 2010, surpassing the MSCI World Index by 4.9%. This represented a high for the year for global acquirers, who maintained their market advantage throughout 2010, collectively beating the Index by 4.3% in the first and third quarters, and by 3.1% in Q3.

Experience counts: Markets favour frequent acquirers

Mon, 24 Jan 2011 00:00:00 GMT

Experienced acquirers are being rewarded by the market, latest research from Towers Watson indicates. According to the findings, those deal-makers who undertook two or more acquisitions over the 30 month period of the study, out-performed the market by 7.8%*. By contrast, those acquirers who completed only one deal also gained value, but by a smaller, 4.5%.

Global Health Insurance Costs Expected to Increase by More Than 10% in 2011, Towers Watson Survey Finds

Thu, 20 Jan 2011 00:00:00 GMT

The cost of employer-provided health insurance is expected to increase by more than 10% around the world in 2011, according to a new survey of health insurers conducted by Towers Watson, a global professional services company. Additionally, little relief is in sight, with the vast majority of respondents expecting higher medical costs over the next five years.

Towers Watson Boosts Health and Group Benefits Consulting Expertise With the Addition of Bill Sharon

Fri, 14 Jan 2011 00:00:00 GMT

Towers Watson announced today that it has strengthened its health and group benefits consulting capabilities with the hiring of Bill Sharon as a senior consultant in the Southeast region.

IRS Rules Could Spark Renewed Interest in Cash Balance Pension Plans, According to Towers Watson Experts

Thu, 13 Jan 2011 00:00:00 GMT

The recently released rules by the Internal Revenue Service (IRS) should clear the path for more employers to renew their interest in cash balance and other types of hybrid pension plans, according to retirement experts at Towers Watson.

U.S. Tort Costs Drop in 2009, According to Towers Watson Study

Wed, 12 Jan 2011 00:00:00 GMT

A lower level of economic activity helped drive tort costs down by 2.7%, or $6.8 billion, in the United States in 2009, according to the 2010 Update on U.S. Tort Cost Trends from global professional services company Towers Watson.

Towers Watson's Solvency II Outlook for 2011

Tue, 11 Jan 2011 00:00:00 GMT

Companies will have started their preparations for Solvency II some time ago. However, the detail of Solvency II is unlikely to be finalised until 2012, which introduces significant uncertainty that companies have to manage. In spite of this continued regulatory uncertainty, 2011 will be a key year for Solvency II and according to Towers Watson there will be five key trends.

Towers Watson Appoints Chris DeMeo as Head of Investment for North America

Tue, 11 Jan 2011 00:00:00 GMT

Global professional services company Towers Watson has named Chris DeMeo head of investment for North America.

January 1 Reinsurance Renewals Characterized by ‘Orderly Rate Softening,’ According to Towers Watson

Mon, 10 Jan 2011 00:00:00 GMT

Most U.S. P&C reinsurance treaties renewed with premium rates that were flat or down in the 5% to 10% range, and more of the same is expected for balance of 2011 renewals.

UK Managers' Bonus and Profit Share Remuneration Falls

Thu, 6 Jan 2011 00:00:00 GMT

The proportion of earnings that UK senior and middle managers received in the form of bonuses and profit share in 2010 has fallen far more over the past two years than lower level employees, according to latest research from global professional services company, Towers Watson.

U.S. Companies Divided on Say-on-Pay Frequency, Towers Watson Poll Finds

Wed, 5 Jan 2011 00:00:00 GMT

Our December 2010 survey of 135 public companies in offers timely insights into U.S. companies' current thinking about how they will approach nonbinding say-on-pay shareholder votes on executive compensation in the 2011 proxy season.

Towers Watson Completes Acquisition of Aliquant

Tue, 4 Jan 2011 00:00:00 GMT

Towers Watson, a leading global professional services company, announced today the completion of its acquisition of Aliquant, a privately held, full-service health and welfare benefits administration outsourcing firm. The acquisition enables Towers Watson to strengthen its position as a premier provider of high-quality health and welfare benefits outsourcing services.

Towers Watson's five pension predictions for 2011

Tue, 4 Jan 2011 00:00:00 GMT

This year will be another challenging one for UK pensions professionals and their clients, according to Towers Watson. The firm believes there will be five key trends during 2011.

Towers Watson to Acquire Aliquant to Expand Health and Welfare Outsourcing Business

Mon, 20 Dec 2010 00:00:00 GMT

Towers Watson, a leading global professional services company, today announced it has signed a definitive agreement to acquire Aliquant, a privately held, full-service health and welfare benefits administration outsourcing firm.

Towers Watson and Vebnet Announce Partnership throughout Latin America

Fri, 17 Dec 2010 00:00:00 GMT

Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company, and Vebnet, a market-leading global technology provider of total rewards and flexible benefits solutions, today announced a formal partnership in Latin America.

Towers Watson Bolsters Health and Group Benefits Consulting With the Appointment of Andy Hiles in the Southeast Region

Thu, 16 Dec 2010 00:00:00 GMT

Strengthening its health and group benefits (HGB) consulting capabilities, global professional services company Towers Watson has named Andy Hiles HGB Leader in its Southeast region.

Companies Looking to Reduce Risk in Defined Benefit Plans, According to Towers Watson–Forbes Insights Survey

Thu, 16 Dec 2010 00:00:00 GMT

Following the economic crisis, the financial risk implications of defined benefit (DB) plan sponsorship have become the primary pension concern for companies with large U.S. DB plans, according to a joint survey of financial executives conducted by global professional services company Towers Watson (NYSE, NASDAQ: TW) and Forbes Insights.

Financial Express acquires eValue from Towers Watson

Wed, 15 Dec 2010 00:00:00 GMT

Specialist funds analysis company Financial Express today confirms it has acquired eValue, a leading stochastic forecasting business, from actuaries Towers Watson.

Companies Worldwide View Talent as Biggest Obstacle to Future Growth, Towers Watson Survey Finds

Wed, 15 Dec 2010 00:00:00 GMT

As companies worldwide begin to position themselves for future growth in the face of an uncertain economic recovery, a new survey by global professional services company Towers Watson finds that concerns over their ability to attract and retain key talent, or to plan for an orderly replacement of talent, could thwart those efforts.

Solvency II brings a myriad of opportunities for insurers

Mon, 13 Dec 2010 00:00:00 GMT

Solvency II presents insurers with a myriad of opportunities to step beyond sole regulatory compliance and develop a competitive advantage, according to Towers Watson. There are, for example, innovative options within Solvency II that allow companies to make use of their own internal models. According to the company’s biennial Insurance Industry ERM survey a significant majority of respondents indicate that they intend to develop internal models for at least some risks.

Commercial Insurance Prices Remain Flat, According to Towers Watson Survey

Mon, 13 Dec 2010 00:00:00 GMT

Overall commercial insurance prices were flat for the seventh consecutive quarter, according to global professional services company Towers Watson's most recent Commercial Lines Insurance Pricing Survey (CLIPS).

Access to more cash at retirement turns pensions upside down

Thu, 9 Dec 2010 00:00:00 GMT

Relaxing the restrictions on how pension savings are used to provide an income in retirement from April 2011 will have far-reaching implications for individuals’ financial planning, employers’ pension strategies and potentially the future flow of tax revenues to, and expenditure from, the Exchequer, according to Towers Watson. For some people it means topping up their existing pension savings could now be about providing a cash sum at retirement rather than a bigger lifetime income.

Retirement Benefits Helping Employers Attract and Retain New Workers, Towers Watson Survey Finds

Thu, 9 Dec 2010 00:00:00 GMT

Retirement benefits — especially defined benefit (DB) programs — are giving employers an added advantage when it comes to attracting and retaining new employees, according to a survey of U.S. workers conducted by global professional services company Towers Watson.

CPI change to affect some pensions more than others

Wed, 8 Dec 2010 00:00:00 GMT

Towers Watson says today’s announcement on CPI inflation and private sector defined benefit pensions is likely to mean that not all scheme members/employers will see their pension benefits/liabilities cut in the same way. The way in which employers chose to comply with the law in 1997 will determine whether pensions in payment rise with RPI inflation (as previously expected) or CPI inflation (which is usually lower) in future.

Economic Climate Continues to Hinder Life Insurer Objectives, According to Towers Watson Survey

Tue, 7 Dec 2010 00:00:00 GMT

While the overwhelming majority (94%) of life insurance industry chief financial officers (CFOs) say they recognize that the economic environment is the major roadblock to their company achieving its growth, profit and risk objectives in 2011, only 20% say they are well prepared to deal with this challenge, according to data from the latest survey from global professional services company Towers Watson, Life Insurance CFO Survey #27: Key Industry Challenges for 2011.

QIS5 brings Solvency II one step closer and builds momentum for the new framework

Tue, 30 Nov 2010 00:00:00 GMT

The QIS5 exercise* has built real momentum for Solvency II within insurance companies but now they should be actively considering its implications for their businesses.

Government u-turn reprieves pension transfers

Tue, 30 Nov 2010 00:00:00 GMT

Towers Watson has welcomed the Government’s decision to drop plans which would have prevented most members of defined benefit (DB) schemes from transferring their full pension to UK defined contribution (DC) arrangements.

Pension schemes to do taxman’s work so high earners can avoid upfront charges

Tue, 30 Nov 2010 00:00:00 GMT

Towers Watson says that Government proposals, published for consultation today, would allow some of the people exceeding new limits on pension savings to insist that the resulting tax bills be met from their pension pot rather than their current income.

Towers Watson Forms Strategic Partnership with WageWorks

Tue, 30 Nov 2010 00:00:00 GMT

Towers Watson (NYSE, NASDAQ: TW), announced today that it has formed a strategic partnership with WageWorks, Inc., the nation’s leading provider of account-based health plan services, that will enable employers to leverage both companies’ strengths in the administration of health and welfare benefits.

Towers Watson bolsters Paris presence in response to growing opportunities in European reinsurance market

Mon, 29 Nov 2010 00:00:00 GMT

Towers Watson has strengthened its presence in the Continental European reinsurance market by appointing three leading experts to its Paris-based reinsurance team. This expanded team now includes Meriem Yabari, a Qualified Actuary of the Institut des Actuaires, who joins the reinsurance department to lead the team in both casualty and property analytics; Firouzeh Poursardar, a senior broker with expertise in property, casualty and motor insurance; and Jean-Francois Delon, who will head the reinsurance division in France.

Towers Watson appoints Chris Ford as head of Investment for EMEA

Wed, 24 Nov 2010 00:00:00 GMT

Chris Ford has been appointed as Towers Watson’s new Investment leader for EMEA with immediate effect. Chris joined the company in 1990 and has held a variety of research, consulting and management positions, including heading the New York Investment practice from 2000 to 2003. On his return to the UK he took responsibility for the Investment strategy team in 2004, then joined the EMEA executive committee in 2007 and thereafter the global practice management team in 2008.

Solvency II implementation challenges more evident

Tue, 23 Nov 2010 00:00:00 GMT

The impending implementation of Solvency II and the increasing expectations among rating agencies are driving insurers to continue to bolster their enterprise risk management (ERM) programmes, according to a recent survey conducted by global professional services company Towers Watson.

Towers Watson Bolsters Corporate ERM Capabilities With the Appointment of Senior Consultant Corey Gooch

Mon, 22 Nov 2010 00:00:00 GMT

Strengthening its enterprise risk management (ERM) consulting capabilities, global professional services company Towers Watson has named Corey Gooch a senior ERM consultant in its corporate risk management practice.

Towers Watson to Acquire EMB in Move to Expand Consulting and Software Offerings to Property & Casualty Insurers

Wed, 10 Nov 2010 00:00:00 GMT

Towers Watson, a leading global professional services company, and EMB, a property & casualty consulting and software company, today announced the signing of a definitive agreement for Towers Watson’s acquisition of EMB’s operations around the world.

Employees Struggle to Cope With Growing Health Care Affordability Gap

Tue, 9 Nov 2010 00:00:00 GMT

As health care costs continue to significantly outpace the rate of inflation and increases in compensation, an affordability gap is placing increasing pressure on employees and eroding satisfaction with their health plans, according to a survey of employees conducted by Towers Watson (NYSE, NASDAQ: TW), a global professional services company.

Insurance M&A Activity Potentially on the Upswing, According to Towers Watson

Thu, 4 Nov 2010 00:00:00 GMT

An insurance industry merger and acquisition (M&A) market that has recently begun to rebound — underscored by MetLife’s November 1 acquisition of Alico — could see increased activity over the next 12 to 18 months, according to global professional services company Towers Watson.

Redefining Role of Manager Unleashes Hidden Potential of Both Leaders and Teams, Says New Book From Towers Watson Management Experts

Wed, 3 Nov 2010 00:00:00 GMT

In today's workplace, the word "manager" often carries with it a cringe-inducing stigma — both for those in the role and those reporting into the position. Less than two-thirds of the world's workforce finds its immediate managers effective (just 59%, according to the 2010 Towers Watson Global Workforce Study), and other recent studies cite a significant number of workers prefer not to move into managerial roles.

Holistic Approach to Asset Allocation for Nonprofit Investment Programs Improves Risk Management, According to Towers Watson

Thu, 28 Oct 2010 00:00:00 GMT

Changes in investment structures and risk management strategies over the past decade have created the need for a new, holistic approach to asset allocation for nonprofit investment programs — especially endowments and foundations — according to a white paper developed by global professional services company Towers Watson (NYSE, NASDAQ: TW).

Automatic enrolment - starting pistol fired for employers to prepare

Wed, 27 Oct 2010 00:00:00 GMT

Employers must now decide how to absorb the costs of providing pensions for more of their employees following confirmation of what the final rules will be, according to Towers Watson. However, there is now one less reason why employers with good defined contribution (DC) schemes might 'level down' after the Government agreed to let them operate under a simplified set of rules.

Profit streams in standstill market depend on claim management

Tue, 26 Oct 2010 00:00:00 GMT

The UK personal motor market will remain unprofitable until at least 2015 according to a new survey of leading UK insurers by Towers Watson. The next five years of forecasted poor performance is being driven by a 30% annual increase in the cost of fraudulent claims† and an over-reliance on pricing in an increasingly competitive sector.

Asia Pacific Leads World for Deal Performance in Third Quarter 2010

Mon, 25 Oct 2010 00:00:00 GMT

In a quarter that brought positive financial results to deal makers globally, those in Asia Pacific led the pack by a significant margin, beating the MSCI World Index (“the Index”) by an impressive 14.5 percentage points, according to the latest Towers Watson (NYSE, NASDAQ: TW) Quarterly Deal Performance Monitor.

Insurers’ ERM Performance Mixed During Financial Crisis

Thu, 21 Oct 2010 00:00:00 GMT

The two-year global economic crisis tested the mettle of the insurance industry’s enterprise risk management (ERM) programs. While insurers have performed relatively well, the impending implementation of Solvency II in 2012 and the increasing expectations among rating agencies are driving insurers to continue to bolster their ERM programs, according to a recent survey conducted by global professional services company Towers Watson (NYSE, NASDAQ: TW).

State Pension Age up by two years for some women

Wed, 20 Oct 2010 00:00:00 GMT

Some women will get their State Pension almost two years later than they thought owing to an announcement in today’s Comprehensive Spending Review, according to Towers Watson.

Public sector pensions – employee contribution rise is a sticking plaster

Wed, 20 Oct 2010 00:00:00 GMT

The £1.8 billion increase in employee contributions to public sector pension schemes which the Chancellor has said the Government will target should only be seen as a temporary solution to the challenge of reforming public sector pensions, according to Towers Watson.

NEST funding means all employers likely to be covered by new pension rules

Wed, 20 Oct 2010 00:00:00 GMT

The reason for the Government’s decision to go ahead with creating the new National Employment Savings Trust (NEST) may be that the alternative was to exclude small employers from new rules requiring the automatic enrolment of most employees into pension schemes, according to Towers Watson.

Towers Watson adds three to bolster UK reinsurance expertise

Tue, 19 Oct 2010 00:00:00 GMT

Towers Watson has strengthened its presence in the London reinsurance market through three appointments to its UK reinsurance team, in response to growing opportunities. The new hires are John Weedon, Dan Bailey and David Tuttlebee.

Old Mutual chooses RiskAgility in preparation for Solvency II

Mon, 18 Oct 2010 00:00:00 GMT

Old Mutual has selected Towers Watson’s RiskAgilityTM Economic Capital Aggregator (RiskAgility EC) to be a core element in the company’s economic capital calculations and Solvency II internal modelling process. RiskAgility EC will support the long-term savings group in calculating their economic capital requirements by providing the company with up-to-date methodologies in a controlled and robust environment.

Top Asset Managers Rebound Strongly

Mon, 18 Oct 2010 00:00:00 GMT

Assets managed by the world’s largest 500 fund managers rose by 16% in 2009 to US$62 trillion at the end of the year. This is in contrast to a 23% loss the year before, according to the Pensions & Investments / Towers Watson World 500 ranking.

Towers Watson Launches Say-on-Pay Shareholder Survey Tool

Mon, 18 Oct 2010 00:00:00 GMT

In an effort to help companies better connect with their shareholders in the new say-on-pay era, global professional services company Towers Watson (NYSE, NASDAQ: TW) has launched a powerful online survey tool to help companies better understand their shareholders’ views and perceptions on their executive compensation programs.

Pensions tax burden shifts back to higher earners

Thu, 14 Oct 2010 00:00:00 GMT

The Government’s latest proposals for restricting tax relief will shift tax bills back up the income scale, according to Towers Watson.

Pensions to rise by 3.1% instead of 4.6% due to inflation change

Tue, 12 Oct 2010 00:00:00 GMT

Payments from public sector pensions, the State Second Pension and some private sector defined benefit pensions will rise by 3.1% instead of 4.6% next year, according to Towers Watson. Official statistics released today also make it likely that the Basic State Pension will rise from £97.65 to £102.15 in April 2011.

Employers acknowledge recession’s impact on ability to attract and engage critical-skill talent

Mon, 11 Oct 2010 00:00:00 GMT

The majority of European companies are facing difficulties in attracting and motivating the critical-skill talent needed to help them rebound and prosper in the wake of the economic crisis, according to the results of new research from global professional services company Towers Watson. The negative impact that cost-cutting measures have had on existing employees is also an issue for employers. As a result, companies are beginning to re-evaluate how they attract, motivate and engage employees.

Hutton could shave up to £80bn off public sector pension debts

Mon, 11 Oct 2010 00:00:00 GMT

Lord Hutton’s report could pave the way for billions of pounds of savings on existing public sector pension liabilities as well as changing the terms on which public sector pensions are promised in future, according to Towers Watson. The Government has assured public sector employees that the pensions they have already been promised are safe, but the reforms being considered could still make them cheaper for taxpayers and less valuable for members.

Four in 10 U.S. Employees Planning to Delay Retirement, Towers Watson Survey Finds

Tue, 5 Oct 2010 00:00:00 GMT

Four in 10 U.S. workers are planning to delay their retirement, according to a survey of nearly 9,100 employees by global professional services company Towers Watson (NYSE, NASDAQ: TW). Moreover, a vast majority of workers are prepared to spend less in retirement and are willing to pay more now for greater certainty in their future retirement and health benefits.

Extra pension contributions could preserve child benefit for some higher rate taxpayers

Mon, 4 Oct 2010 00:00:00 GMT

The Chancellor’s announcement that child benefit will be withdrawn from families where at least one parent pays 40% tax could create strong incentives for people earning just above the higher rate tax threshold to increase their pension contributions, according to Towers Watson.

Call Centers Playing Increasingly Important Role for Insurers’ Claims Operations, According to Towers Watson Survey

Mon, 4 Oct 2010 00:00:00 GMT

As claim operations continue to be affected by the uncertain economy, call centers are becoming increasingly important for both personal and commercial insurers’ auto and property lines of business — although in different ways — according to a survey conducted by global professional services company Towers Watson (NYSE, NASDAQ: TW).

Personal lines pricing at the cross roads

Wed, 29 Sep 2010 00:00:00 GMT

The cost of injury claims in the UK car insurance market has grown recently by nearly 30% per annum according to Towers Watson, further stressing expense ratios and challenging many insurers’ future profitability.

Employer Health Care Costs Expected to Rise 8.2% in 2011, Towers Watson Survey Finds

Wed, 15 Sep 2010 00:00:00 GMT

Against a backdrop of continued economic uncertainty, employer health care costs for active employees are projected to rise 8.2% (after plan changes), to an average annual cost of $10,730 in 2011, according to a recent survey of 466 large and midsize employers conducted by Towers Watson (NYSE, NASDAQ: TW), a global professional services company.

Commercial Insurance Prices Remain Level for Sixth Straight Quarter, According to Towers Watson Survey

Tue, 14 Sep 2010 00:00:00 GMT

While commercial insurance prices continue to remain relatively flat for the sixth consecutive quarter, insurers that utilize predictive modeling in their pricing and risk selection process reported that they were better able to hold price levels, according to global professional services company Towers Watson's (NYSE, NASDAQ: TW) most recent Commercial Lines Insurance Pricing Survey (CLIPS).

Compensation for U.S. Corporate Directors Remained Flat in 2009, Towers Watson Analysis Finds

Mon, 13 Sep 2010 00:00:00 GMT

Compensation for outside directors at the nation’s largest corporations remained relatively flat last year as most companies continued their cautious approach to spending compensation dollars, according to a new analysis by Towers Watson (NYSE, NASDAQ: TW), a global professional services company. The analysis also found that more companies replaced board and committee meeting fees with fixed retainers for service.

Perfect Storm of New Risks and Regulations Reshape Reinsurance Industry, According to Towers Watson

Mon, 13 Sep 2010 00:00:00 GMT

The growing complexity of reinsurance markets in recent years has ramped up demands on buyers and radically transformed the industry, according to global professional services company Towers Watson. The company asserts that complex market data, Solvency II implementation, the dual challenges of accessing risk and distributing risk taking are generating the need for reinsurance buyers to achieve a holistic view of capital adequacy in order to invest for future profit and growth.

Top pension funds on the road to recovery

Tue, 7 Sep 2010 00:00:00 GMT

Total assets of the world’s largest 300 pension funds grew by over 8% in 2009 to US$11.3 trillion, up by around US$1 trillion from last year’s figure, according to Pensions & Investments and Towers Watson research.

Majority of Companies Worldwide Having Difficulty Attracting Critical-Skill and Talented Employees, Towers Watson Survey Finds

Tue, 7 Sep 2010 00:00:00 GMT

A vast majority of companies worldwide are having difficulty attracting the critical-skill and talented employees needed to help them rebound and prosper in the wake of the economic crisis. However, the severity of their difficulty in attracting these workers varies greatly from country to country as economic recovery is proving to be uneven in different regions, according to a new survey conducted by global professional services company Towers Watson (NYSE, NASDAQ: TW) and WorldatWork, an international association of human resource professionals.

Towers Watson acquires HRS

Mon, 6 Sep 2010 00:00:00 GMT

Acquisition of leading Swedish-based consultancy positions Towers Watson for further growth in the Nordic region.

Enhanced annuities sales continue to break records

Thu, 2 Sep 2010 00:00:00 GMT

The value of enhanced annuity sales in the UK rose to £1.26 billion in the first half of 2010, an increase of 41 per cent compared to the second half of 2009, according to research by Towers Watson. According to the firm, new records for sales were set at £582 million and £676 million in the first and second quarters of 2010 respectively.

Private Equity Emerges From the Economic Crisis, According to Towers Watson

Wed, 1 Sep 2010 00:00:00 GMT

Market conditions are now providing opportunities for private equity managers and their investors in selective areas of the market according to new research produced by global professional services company Towers Watson (NYSE, NASDAQ: TW). The research asserts that portfolio company operating performance is stabilizing, pricing for new deals is becoming more compelling from a buyer’s perspective and financing packages are increasingly available for the right businesses.

Older Workers’ Confidence in Retirement Security Rebounds, but Remains Below Pre-Crisis Levels, Towers Watson Survey Finds

Wed, 1 Sep 2010 00:00:00 GMT

Older workers’ confidence in their ability to retire comfortably has rebounded modestly in the past year, although confidence levels remain well below those prior to the financial crisis. Additionally, while concerns among older workers with defined benefit (DB) plans have eased, younger workers are growing increasingly worried over their DB benefits, according to a new survey conducted by global professional services company Towers Watson (NYSE, NASDAQ: TW). The Towers Watson survey, conducted in May and June of 2010, includes responses from nearly 9,100 full-time U.S. workers.

Towers Watson Ranked Among North America’s Top 500 Technology Integrators by Everything Channel

Tue, 31 Aug 2010 00:00:00 GMT

Towers Watson (NYSE, NASDAQ: TW), a global professional services company, has been recognized by Everything Channel as one of North America’s top technology integrators. Named to the prestigious VAR500 list for the third time, Towers Watson placed number 193 in the 16th annual ranking.

PPF yet to spell out what its "£8bn war chest" strategy means for levies

Wed, 25 Aug 2010 00:00:00 GMT

The route by which the Pension Protection Fund intends to reach its new funding objective could make a big difference to the levies employers pay over the next few years, according to Towers Watson.

Life Insurance CFOs See Improved Outlook for Revenue and Net Income Growth for Second Quarter, According to Towers Watson Survey

Tue, 24 Aug 2010 00:00:00 GMT

Chief financial officers from North American life insurers are generally optimistic about second quarter 2010 results, according to a survey from global professional services company Towers Watson (NYSE, NASDAQ: TW). Those same executives also indicated that the recent financial crisis has not diminished their companies’ interest in retirement income products.

Towers Watson Predicts Reform to Drive Increase in Health Care Consumption

Mon, 23 Aug 2010 00:00:00 GMT

While financial uncertainties drove many Americans to rein in their consumption of health care services during the recession, the Patient Protection and Affordable Care Act will remove patient out-of-pocket costs for preventive care services under many plans beginning in 2011 and drive an increase in the use of these services, according to Towers Watson (NYSE, NASDAQ: TW), a global professional services company.

Towers Watson Announces General Availability of New MoSes Financial Modeling Solutions for U.S. Life Insurers

Thu, 5 Aug 2010 00:00:00 GMT

To help insurers better respond to market volatility and new statutory principle-based approaches (PBA) to regulatory requirements such as AG 43 and C3 Phase III, global professional services company Towers Watson (NYSE, NASDAQ: TW) today announced the general availability of a new suite of advanced financial modeling software.

U.S. Employers Planning Larger Pay Raises for 2011, Towers Watson Survey Finds

Wed, 4 Aug 2010 00:00:00 GMT

With the economy showing some signs of improvement, U.S. companies are planning to issue modestly larger pay raises to their workers next year. Employees can also expect to receive larger annual bonuses this year as organizations return to profitability, according to two new surveys conducted by global professional services company Towers Watson (NYSE, NASDAQ: TW).

Towers Watson Names Jon Kocourek Executive Vice President in Its Reinsurance Brokerage Business

Wed, 4 Aug 2010 00:00:00 GMT

Global professional services company Towers Watson (NYSE, NASDAQ: TW) has named industry veteran Jon Kocourek as an executive vice president in its reinsurance brokerage business, the world’s fourth largest.

Deepwater Horizon Disaster Not a Watershed Event for P&C Insurance Market, According to Towers Watson

Mon, 2 Aug 2010 00:00:00 GMT

The Deepwater Horizon disaster will not be a major event for the property & casualty insurance industry, according to global professional services company Towers Watson (NYSE, NASDAQ: TW).

Pension Funding Relief Could Provide Between $19 Billion and $63 Billion Reduction in Required Contributions Over Five Years, Towers Watson Analysis Finds

Mon, 2 Aug 2010 00:00:00 GMT

Employers that sponsor defined benefit (DB) pension plans have the potential to receive billions of dollars in temporary pension funding relief as a result of legislation signed into law last month, according to a new analysis by Towers Watson (NYSE, NASDAQ: TW), a global professional services company. However, while the law may significantly ease financial pressures for some sponsors for at least two years, employers face potentially larger funding obligations after 2011.

Executive Pay Expected to Rebound This Year, Towers Watson Survey Finds

Thu, 29 Jul 2010 00:00:00 GMT

Compensation for executives at large and midsize U.S. companies is expected to rebound modestly this year following two consecutive years of pay declines, according to a new survey by Towers Watson (NYSE, NASDAQ: TW), a global professional services company. Additionally, most companies are planning to fine-tune their executive pay programs to further tighten the link between pay and performance as well as address a growing concern over executive retention.

Tax changes could cut maximum final salary pension by one-third

Thu, 29 Jul 2010 00:00:00 GMT

The Government’s proposals for restricting tax relief on pension contributions could reduce by one third the maximum annual pension that can be built up in a tax-advantaged final salary scheme, according to Towers Watson.

Towers Watson Bolsters Reinsurance Brokerage Business With the Appointments of Senior Vice Presidents Brian O’Neill and Scott Emanuele

Mon, 26 Jul 2010 00:00:00 GMT

Global professional services company Towers Watson (NYSE, NASDAQ: TW) has named Brian O’Neill and Scott Emanuele as senior vice presidents in its reinsurance brokerage business, the world’s fourth largest.

Retirement Benefits for U.S. Workers Declined 19% Between 1998 and 2008, Towers Watson Analysis Finds

Thu, 22 Jul 2010 00:00:00 GMT

U.S. workers saw the value of their employer-sponsored retirement benefits — as measured by percentage of pay — decline by double-digit levels over a 10-year period ending in 2008, according to an analysis of eight major industries conducted by Towers Watson (NYSE, NASDAQ: TW), a global professional services company.

Towers Watson cuts the cost of MNT elections

Wed, 21 Jul 2010 00:00:00 GMT

Towers Watson has developed an online solution that dramatically cuts the cost and time involved in undertaking member-nominated trustee (MNT) elections.

Towers Watson Boosts Property & Casualty M&A Expertise With the Appointment of Sean P. McDermott

Tue, 20 Jul 2010 00:00:00 GMT

Strengthening its property & casualty (P&C) mergers and acquisition (M&A) consulting capabilities, global professional services company Towers Watson (NYSE, NASDAQ: TW) has named Sean P. McDermott as a director of P&C consulting services.

North America Leads Deal Performance in Second Quarter 2010

Mon, 19 Jul 2010 00:00:00 GMT

Companies that completed acquisitions or mergers during the second quarter of 2010 continued to outperform the market, beating the MSCI World Index (the Index) by 3.1 percentage points, according to the latest Towers Watson Quarterly Deal Performance Monitor, the only M&A study to track the performance of global deals.

Annuity Reform – Size is Everything for Minimum Income Requirement

Fri, 16 Jul 2010 00:00:00 GMT

The Government’s proposed annuity reforms would allow future pensioners to seek better investment returns if they are prepared to risk outliving their money, says Towers Watson. However, according to firm, the eventual significance of the proposal to allow pensioners to access more of their money early on in retirement will depend on the size of the lifetime income that they first need to secure.

Controlling Cost of Claims Seen as Critical, According to Towers Watson Survey

Wed, 14 Jul 2010 00:00:00 GMT

Corporate risk and finance managers, faced with the lingering effects of a global financial crisis, dramatically downsized staffs and reduced budgets are becoming increasingly concerned about managing those expenditures as part of their total cost of risk, according to a survey conducted by global professional services company Towers Watson (NYSE, NASDAQ: TW).

Pension Funds Allocate Across the Breadth of Alternative Assets

Mon, 12 Jul 2010 00:00:00 GMT

Alternative assets under management on behalf of pension funds by the world’s largest alternative investment managers remained unchanged in 2009 compared to the year before at US$817bn, according to global research produced by Towers Watson in conjunction with the Financial Times.

Green Paper smoothes path for pan-European pensions

Wed, 7 Jul 2010 00:00:00 GMT

Today’s European Commission (EC) Green Paper holds significant promise of furthering the development of cross-border pension schemes according to global professional services company Towers Watson.

Automatic Enrollment in 401(k) Plans Now Dominates at Large Employers, Towers Watson Survey Finds

Wed, 30 Jun 2010 00:00:00 GMT

A majority of large employers now automatically enroll workers into their 401(k) plans, the nation’s predominant vehicle for employees to save for retirement, according to a new survey by Towers Watson (NYSE, NASDAQ: TW), a global professional services company.

Few U.S. Companies Well Prepared for Executive Say-on-Pay Legislation, Towers Watson Survey Finds

Tue, 29 Jun 2010 00:00:00 GMT

Relatively few U.S. companies are well prepared to put their executive pay programs up to a say-on-pay shareholder vote, although many are taking steps to get ready if pending legislation that would give shareholders a greater voice in executive pay becomes law, according to a forthcoming survey by Towers Watson (NYSE, NASDAQ: TW), a global professional services company.

Talent Management Systems Taking on “Must Have” Status for Human Resources Professionals in the Post-Recession Era

Mon, 28 Jun 2010 00:00:00 GMT

Though workforces may be leaner following the recession, HR professionals across the U.S. and Canada are supporting the drive for peak employee performance by expanding their commitment to talent management and the technologies that support it. According to the 13th annual Towers Watson survey on HR service delivery trends and practices, HR departments are more confident than ever in the value and efficiencies made possible through enhanced talent management systems. In fact, 42% of the more than 450 companies polled listed “talent/performance systems” as one of their top three HR service delivery issues for 2010. This was not only the most frequently selected issue among respondents, but it was also ranked as the top issue by the largest margin ever in the survey’s history.

Inflation Change Moves the Goalposts on Government Pension Promises

Fri, 25 Jun 2010 00:00:00 GMT

The Budget announcement that public sector pensions and second-tier State Pensions will rise with CPI rather than RPI inflation from April 2011 means pensioners will get significantly less than they had expected, according to Towers Watson.

Automatic Enrolment Reviewers Must Beware Cliff Edges

Thu, 24 Jun 2010 00:00:00 GMT

The terms of reference for the review into automatic enrolment risk creating some strange incentives for employers and individuals, according to Towers Watson.

Towers Watson Bolsters Presence in Increasingly Important Florida P&C Market

Thu, 24 Jun 2010 00:00:00 GMT

Strengthening its presence in the increasingly important Florida property & casualty (P&C) market, global professional services company Towers Watson has appointed two long-time industry veterans with vast experience in the state; Robert Betz and Lloyd Stofko.

Will Big Rise in State Pension Age Include a Birthday Lottery?

Thu, 24 Jun 2010 00:00:00 GMT

The Government’s review of the State Pension Age could see it rise above 70 by the middle of the century, according to Towers Watson. Documents published today may also open the door to a more dramatic overnight change than has so far been expected.

Towers Watson Sells VIPitech to Algorithmics

Wed, 23 Jun 2010 00:00:00 GMT

Global professional services company Towers Watson (NYSE, NASDAQ: TW) has sold VIPitech - an actuarial and financial modelling software unit - to Algorithmics in accordance with commitments it made to the European Commission (EC). The sale of VIPitech was a condition to the EC's clearance of the merger between Watson Wyatt and Towers Perrin.

£30k-£45k Pensions Cap Could Hit Long-Serving Employees in Final Salary Schemes

Tue, 22 Jun 2010 00:00:00 GMT

Pension tax changes announced today could lead to an annual tax charge of over £1,000 for a long-serving final salary scheme member earning £60,000, Towers Watson says – depending on how the policy is developed.

Towers Watson Appoints Lawrence Racioppo to its Expanding Insurance Brokerage Business

Tue, 22 Jun 2010 00:00:00 GMT

Global professional services firm Towers Watson (NYSE, NASDAQ: TW) has named Lawrence Racioppo to its insurance brokerage business, serving as leader of the business’s executive liability practice.

Towers Watson: LDI Strategies Gaining in Popularity Among U.S. Investors

Tue, 15 Jun 2010 00:00:00 GMT

Spurred on by several regulatory, business and market issues, liability-driven investing (LDI) is becoming more prevalent among defined benefit pension investors in the United States as the dangers of focusing solely on asset returns become more apparent.

Commercial Insurance Prices Remain Level for Fifth Straight Quarter, According to Towers Watson Survey

Mon, 14 Jun 2010 00:00:00 GMT

A fragile global economy, excess capacity in virtually every line of commercial insurance and last year’s below-average catastrophic losses combined to keep commercial insurance prices flat during the first quarter of 2010, according to global professional services company Towers Watson's (NYSE, NASDAQ: TW) most recent Commercial Lines Insurance Pricing Survey (CLIPS).

Portugal Would Win the World Cup of ‘Employee Team Management’

Wed, 9 Jun 2010 00:00:00 GMT

If company culture and manager performance is any guide then Brazil and Portugal will contest the World Cup Final on July 11 according to analysis from Towers Watson.

Pension Transfers - Regulator Seeks to Inform Rather Than Prevent

Wed, 9 Jun 2010 00:00:00 GMT

A statement from the Pensions Regulator indicates that it will not routinely seek to scupper employers’ plans to reduce pension risks by giving members choices, according to Towers Watson.

Towers Watson Experts Available to Speak to Business Impact of 2010 U.S. Hurricane Season

Mon, 7 Jun 2010 00:00:00 GMT

As June 1 marked the official start of the 2010 U.S. hurricane season, awareness and preparation are paramount, according to global professional services company Towers Watson (NYSE, NASDAQ: TW).

Euroland Risk Remains a Threat to Global Stability

Thu, 3 Jun 2010 00:00:00 GMT

Recent actions of European policymakers have temporarily reassured markets and only gained them sufficient time to introduce necessary policy measures and consolidate the weak financial outlook according to a Towers Watson report.

Understanding ‘The New Standards’ in Executive Compensation Equips Leaders With Blueprint for Designing Effective Pay Structures

Wed, 2 Jun 2010 00:00:00 GMT

Companies are paying closer attention to executive compensation than ever before — in response to growing scrutiny from shareholders, the federal government and others. With stakeholders demanding closer alignment of pay and performance, boards and compensation committees are under intense pressure to ensure that their executive incentive plans are well designed and deliver appropriate rewards for achieving corporate objectives.

Pension Deficits Fall in May Despite Stock Market Losses

Fri, 28 May 2010 00:00:00 GMT

Despite a bad month for stock markets, UK companies’ pension deficits actually shrunk by £7 billion during May, according to Towers Watson. This is because the future rates of inflation that markets anticipate are lower at the end of the month than they were at the start, reducing the expected cost of inflation-linked pension payments.

More Fortune 100 Companies Offering Account-Based Retirement Plans to New Salaried Employees, Towers Watson Analysis Finds

Wed, 26 May 2010 00:00:00 GMT

The number of large U.S. companies that are replacing their traditional defined benefit (DB) plans with account-based retirement plans for new salaried employees continues to increase, according to a new analysis by Towers Watson (NYSE, NASDAQ: TW), a global professional services company. Account-based plans include defined contribution (DC) plans, such as 401(k) plans, and hybrid pension plans, typically cash balance plans.

Employers Brace for Health Care Reform-Related Cost Increases but Remain Committed to Subsidizing Employee Coverage

Tue, 25 May 2010 00:00:00 GMT

Although U.S. employers view controlling health care costs as their highest health care reform priority, few believe that the recently enacted Patient Protection and Affordable Care Act (PPACA) will stem the tide of rising costs, according to a May 2010 survey by Towers Watson (NYSE, NASDAQ: TW), a global professional services company.

Queen's Speech Paves Way for Big Rise in State Pension Age

Tue, 25 May 2010 00:00:00 GMT

The inclusion of a Pensions Bill in the Queen’s Speech could be the first step towards a much faster rise in the State Pension Age, according to Towers Watson.

Defined Contribution Enters a New Era

Thu, 20 May 2010 00:00:00 GMT

Defined contribution (DC) pensions require significant re-engineering if they are to better serve millions of individuals worldwide who were exposed to its failings during the financial crisis according to a Towers Watson publication.

Towers Watson Embraces Voluntary Lifetime Income Options in Defined Contribution Plans

Thu, 20 May 2010 00:00:00 GMT

The U.S. legislative and regulatory framework should facilitate and encourage offering lifetime income options for participants in defined contribution (DC) plans, such as 401(k)s, but the creation of related mandates should be avoided, according to Towers Watson (NYSE, NASDAQ: TW), a global professional services company.

Life Insurance CFOs Expect to Change How They Determine Capital Requirements, According to Towers Watson Survey

Wed, 19 May 2010 00:00:00 GMT

While they haven’t significantly altered their approach to determining required capital as a result of the financial crisis, most North American life insurance chief financial officers (CFOs) said they are planning to adjust their strategies over the next 12 months, according to data from the latest survey from global professional services company Towers Watson (NYSE, NASDAQ: TW), Evolving Capital Management Practices.

Cadillac Health Plan Tax to Penalize Majority of Employers by 2018

Wed, 19 May 2010 00:00:00 GMT

Health care reform’s so-called “Cadillac plan” excise tax will affect more than 60% of large employers’ active health plans by the provision’s 2018 enactment, according to an analysis conducted by Towers Watson (NYSE, NASDAQ: TW), a global professional services company.

What Will New Minister do to 'Hopelessly Inadequate' Pension Reforms?

Wed, 19 May 2010 00:00:00 GMT

Steve Webb, the new Minister of State for Pensions, is likely to query the way his department is implementing major pension reforms, according to Towers Watson. However, some of the decisions he has previously objected to have their roots in primary legislation with cross-party support so cannot be changed quickly and easily.

Insurers May be Cutting Corners on QIS5

Tue, 18 May 2010 00:00:00 GMT

QIS5, a comprehensive test of the new Solvency II regime, is scheduled between August and November this year and represents one of the last opportunities for the insurance industry to influence the design and calibration of the new regulatory regime.

Inflation Breaks Through Pension Increase Ceiling

Tue, 18 May 2010 00:00:00 GMT

Retail Price Inflation was 5.3% in the 12 months to April 2010, according to figures published by the Office for National Statistics today. Towers Watson says this is the first time it has broken through the 5% ceiling which applies to inflation-linked increases to defined benefit pensions earned between 1997 and 2005.

Towers Watson Launches Canadian Rx Coalition – A First of Its Kind Employer Alliance to Transform the $14 Billion Pharmacy Benefit Industry

Thu, 13 May 2010 00:00:00 GMT

As governments scramble to reform the prescription drug market in Canada, Towers Watson today announced the launch of the Canadian Rx Coalition, a ground-breaking new way for employers to manage employee drug plans through a cooperative alliance with other Canadian plan sponsors.

The Coalition Agreement and Pensions

Thu, 13 May 2010 00:00:00 GMT

The policy agreement published by the Conservatives and Liberal Democrats today contains a number of pension reforms. Towers Watson says the commitment to review the State Pension Age is more significant than bringing forward the earnings link for the Basic State Pension by another year, that higher rate tax relief appears safe at least for now, and that the review of public sector pensions should focus on what is the most cost-effective way of rewarding public sector employees.

Towers Watson Defends Asset Diversity

Tue, 4 May 2010 00:00:00 GMT

Institutional investors that have diversified their assets away from developed market equities during the past five to ten years will have made the case for diversification as almost every other asset class outperformed these markets during this period, according to an article in Towers Watson’s Global Investment Matters publication. In the article, entitled Is diversification dead?, the firm asserts that the risk of an equity-focused strategy remains high, especially given ongoing economic uncertainty and recommends that investors should seek both existing and new market opportunities to build more diversified portfolios.

Towers Watson Aligns Executive Compensation Consulting Strategy With Evolving Range of Client Needs

Fri, 30 Apr 2010 00:00:00 GMT

After an extensive three-month review of the executive compensation (EC) consulting market in the U.S., Towers Watson (NYSE, NASDAQ: TW) today reaffirmed its commitment to the EC consulting business, while reorienting its strategic approach to meet the evolving needs of clients. The strategic review was prompted in part by new Securities and Exchange Commission (SEC) proxy rules that require companies in some situations to disclose the consulting fees they pay to firms that provide both EC and other consulting services.

Towers Watson Expands, Strengthens Its Insurance Brokerage Business

Mon, 26 Apr 2010 00:00:00 GMT

Continuing to expand the depth and breadth of expertise in its insurance brokerage business, global professional services company Towers Watson (NYSE, NASDAQ: TW) has appointed three senior brokers with nearly 85 years of combined experience — Craig Nelson, Steven Watts and Paul Perry.

Recession Dents a Third of Workers’ Retirement Plans

Tue, 20 Apr 2010 00:00:00 GMT

Employees expect they will have to take more personal responsibility for their pensions over the coming years as the recession puts significant dents in many peoples’ retirement plans, according to research by global professional services company Towers Watson.

Deal Makers Continue to Outperform the Market, Says Towers Watson’s Quarterly Deal Performance Monitor

Mon, 19 Apr 2010 00:00:00 GMT

Companies that completed deals during the first quarter of 2010 outperformed the market, according to the latest Towers Watson (NYSE, NASDAQ: TW) Quarterly Deal Performance Monitor.

Election Analysis: Devil in the Detail of Liberal Democrat Pension Tax Relief Plans

Thu, 15 Apr 2010 00:00:00 GMT

The Liberal Democrat manifesto, published yesterday, says the party favours “giving tax relief on pensions only at the basic rate so that everyone gets the same tax relief on their pension contributions”.

Conservative Manifesto: What Life Expectancy Forecasts Mean For The State Pension Age

Wed, 14 Apr 2010 00:00:00 GMT

People retiring in future are on average expected to receive their state pensions for almost two years longer than was expected when the current timetable for increasing the State Pension Age was agreed, according to Towers Watson's analysis of official population projections.

Common U.S. Health Risks Surface Abroad At Multinationals

Wed, 14 Apr 2010 00:00:00 GMT

As obesity, work-related stress and chronic disease accelerate among the non-U.S.-based employees of multinationals, the number of multinational companies that are taking a global approach to mitigate these so-called “lifestyle diseases” will double by 2012. These findings were revealed by the Workforce Health Strategies: A Multinational Perspective, a survey conducted by Towers Watson (NYSE, NASDAQ: TW), a global professional services company.

Employers Taking Action to Address Pension Costs, Towers Watson Survey Finds

Tue, 13 Apr 2010 00:00:00 GMT

A vast majority of Canadian employers are taking steps to address the ongoing funding crisis facing their defined benefit (DB) pension plans, according to a new survey from Towers Watson, a global professional services company. The majority of employers surveyed also believe the pension funding crisis is likely to remain beyond the next few years.

Labour’s Manifesto – £2bn Cost of Bringing Forward Pension Earnings Link

Mon, 12 Apr 2010 00:00:00 GMT

Labour’s manifesto commitment to increase the Basic State Pension in line with earnings from 2012 removes the opportunity to save around £2bn a year by the end of the next Parliament and around £4bn a year in the long term by delaying it to 2015, according to Towers Watson.

DB Deficits Drive Fluctuating Pension Contributions

Fri, 9 Apr 2010 00:00:00 GMT

The first annual fall in contributions to funded pension schemes to be recorded by the Office for National Statistics (ONS) reflects funding plans for defined benefit schemes that were agreed in relatively benign circumstances and could quickly be reversed, according to Towers Watson.

Financial Health of Top Corporate Pension Plans Improved in 2009, Towers Watson Analysis Finds

Wed, 7 Apr 2010 00:00:00 GMT

The financial health of the nation’s 100 largest corporate pension plans improved modestly in 2009, largely due to strong stock market returns, although higher liabilities caused by lower discount rates tempered the overall improvement, according to a new analysis by Towers Watson (NYSE, NASDAQ: TW), a global professional services company. In the first look at actual year-end disclosures, the analysis found that 2009 funding levels and overall pension plan assets increased over 2008 levels, although funding for both years remained well below 2007 levels.

Finance Bill threatens to cast pensions tax net wider

Tue, 6 Apr 2010 00:00:00 GMT

UK, April 6, 2010 – Draft legislation which is expected to be fast-tracked through parliament this week does not require any inflation-linked uprating of the income levels at which higher earners will be taxed on pension contributions from next April.

Government Expects 2% NEST Charge to Last Until 2030

Thu, 25 Mar 2010 00:00:00 GMT

The Government has revealed that it expects the 2% charge levied on contributions to the new National Employment Savings Trust (NEST) pension scheme to last until around 2030.

Default Retirement Age – Baby Boomers Make Change More Likely

Wed, 24 Mar 2010 00:00:00 GMT

The Chancellor’s announcement today on the default retirement age suggests that nothing has yet been ruled in or out but demographic pressures make reform look likely, according to Towers Watson.

Treasury Trebles Estimate of Pensions Tax Set-up Cost

Wed, 24 Mar 2010 00:00:00 GMT

HM Treasury has trebled its estimate of the one-off costs that pension schemes, employers and individuals will incur as a result of the tax on higher earners’ pension contributions that it is introducing from 2011, according to Towers Watson.

CSC & Towers Watson Study Reveals U.S. Life Insurers Plan to Improve Enterprise Risk Management Programs

Tue, 23 Mar 2010 00:00:00 GMT

As the financial climate improves, U.S. life insurers say they will invest to enhance their enterprise risk management (ERM) function in 2010 and beyond, according to a joint study by CSC (NYSE: CSC) and Towers Watson (NYSE, NASDAQ: TW), and in partnership with the American Council of Life Insurers (ACLI).

Public Sector Pension Liabilities now £1.2 trillion

Mon, 22 Mar 2010 00:00:00 GMT

Unfunded pension promises made to past and present UK public sector workers now amount to almost £1.2 trillion, according to Towers Watson. Including these liabilities would more than double the new estimate of the national debt to be revealed by the Chancellor of the Exchequer in Wednesday’s Budget.

Jobless Recovery in the U.S. Leaving Trail of Recession-Weary Employees in Its Wake, According to New Study

Tue, 16 Mar 2010 00:00:00 GMT

The “Great Recession” may have ended, but its impact on the U.S. workforce and employment itself looks to be deep and longlasting, according to the results of new research from global professional services company Towers Watson (NYSE, NASDAQ: TW). The Global Workforce Study (GWS) — a biennial survey of employee attitudes and workplace trends — confirms that the recession has fundamentally altered the way U.S. employees view their work and leaders today, while dramatically accelerating changes to the basic social contract that underpins employment here.

Combination of Actuarial Expertise and Software is the Key to Successful Predictive Modeling, According to Towers Watson

Mon, 15 Mar 2010 00:00:00 GMT

As the use of predictive modeling among insurance companies becomes increasingly prevalent, the combination of sophisticated actuarial expertise and advanced predictive modeling software to determine optimum pricing and risk selection strategies, will help insurers realize a competitive advantage.

Employers Raising the Bar on Financial Incentives to Improve Worker Health, National Business Group on Health/Towers Watson Survey Finds

Thu, 11 Mar 2010 00:00:00 GMT

While employers remain committed to offering health and productivity programs, they are frustrated by the inability of many workers to change their health habits. In an effort to encourage healthy behaviors, a growing number of employers are tightening their requirements for workers to receive financial incentives, according to a survey conducted by Towers Watson (NYSE, NASDAQ: TW), a global professional services company, and the National Business Group on Health (NBGH), a nonprofit association of large U.S. employers.

Towers Watson Client Bond Mandates Up by 50%

Mon, 1 Mar 2010 00:00:00 GMT

The number of bond mandates awarded by global professional services company Towers Watson’s (NYSE, NASDAQ: TW) clients worldwide in 2009 increased by over 50% from 2008, which was already over 20% higher than the year before. The most significant increase in demand was for U.S. bonds, with twice the number of selections in 2009 as in 2008.

Two Thirds of Private Sector Employees Not in a Workplace Pension

Mon, 1 Mar 2010 00:00:00 GMT

New figures from the Office for National Statistics show a continuing decline in the proportion of private sector employees saving in workplace pensions, according to Towers Watson. They also underline the ongoing shift from defined benefit (DB) to defined contribution (DC) pension provision.

Pension Contributions Increase For Those Who Want Them

Thu, 25 Feb 2010 00:00:00 GMT

Despite the economic downturn, the average maximum contribution that large employers are making to defined contribution (DC) pensions is increasing, according to a survey of FTSE 100 companies by Towers Watson.

Insurers Must Avoid Planning Paralysis Around Internal Models, Advises Towers Watson

Thu, 25 Feb 2010 00:00:00 GMT

Insurers should avoid planning paralysis and an overreliance on recruitment if they are to convince the Financial Services Authority (FSA) that they are making progress towards Solvency II compliance, warns global professional services company Towers Watson (NYSE, NASDAQ: TW).

Towers Watson, UnitedHealthcare Partner to Design Innovative Solution for Employer-Based Retiree Health Programs

Thu, 25 Feb 2010 00:00:00 GMT

Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company, and UnitedHealthcare, a UnitedHealth Group (NYSE: UNH) company, have partnered to develop the Retiree Health Collaborative, a new health care coverage solution for retirees and employers.

More Employers Eye Changes to Health Benefits to Control Costs, Improve Worker Health Behavior, National Business Group on Health/Towers Watson Survey Finds

Mon, 22 Feb 2010 00:00:00 GMT

The continuing sluggish economy is forcing a growing number of large U.S. employers to take more aggressive measures to control rising health care costs and motivate workers to take charge of improving their own health, according to a survey conducted by Towers Watson (NYSE, NASDAQ: TW), a global professional services company, and the National Business Group on Health (NBGH), a non-profit association of large U.S. employers.

Election Date Choice Could Cost Pensioners (and Save Taxpayers) Over £600 Million

Mon, 22 Feb 2010 00:00:00 GMT

The Prime Minister’s choice of general election date will affect when the Basic State Pension must be linked to earnings, according to Towers Watson.

Economy Having a Significant Impact on Insurers' Claim Operations, According to Towers Watson Survey

Thu, 18 Feb 2010 00:00:00 GMT

The unsettled economy is having a major effect on claim operations, including rising loss costs, increased levels of litigation and higher rates of fraudulent claims. Further, the current financial environment is putting pressure on insurers’ expense management and expense-related claim performance metrics, according to a survey conducted by global professional services company Towers Watson (NYSE, NASDAQ: TW).

Investment Managers Optimistic About Markets in 2010 Despite Uneasiness Around Bond Markets, According to Towers Watson Survey

Tue, 16 Feb 2010 00:00:00 GMT

Fund managers are confident that higher equity returns and positive, albeit modest, economic growth will manifest a continued global recovery, according to a survey conducted by global professional services firm Towers Watson (NYSE, NASDAQ: TW).

Towers Watson Investment Announces Two New Appointments

Tue, 16 Feb 2010 00:00:00 GMT

Sydney, 16 February 2010 - Leading global consulting firm Towers Watson has made two new appointments to its Australian Investment Practice to provide enhanced services to its portfolio construction and manager research groups. Alek Misev has been appointed to the Portfolio Construction Group as an investment consultant, while Vineta Salale has been hired as an investment analyst. These appointments follow the announcement of seven recruits in the UK last month.

DC governance must be improved quickly

Wed, 10 Feb 2010 00:00:00 GMT

Towers Watson welcomes the proposals to improve the governance of Defined Contribution (DC) schemes contained in an industry consultation document published by the joint Government-industry Investment Governance Group (IGG).

Jason Pope joins Towers Watson's Technology and Administration Solutions team

Wed, 10 Feb 2010 00:00:00 GMT

Towers Watson has appointed Jason Pope as a client manager in its Technology and Administration Solutions Practice.

Towers Watson Appoints Emma Hunt to Its Growing Sustainability Investment Team

Tue, 9 Feb 2010 00:00:00 GMT

Global Professional Services company Towers Watson (NYSE, NASDAQ: TW) has recruited Emma Hunt from Mercer Investment Consulting where she was a principal heading up the responsible investment (RI) and active ownership areas in Europe.

Towers Watson Strengthens Its Reinsurance Brokerage Business With the Appointment of Ashley Mims, Senior Consultant

Tue, 9 Feb 2010 00:00:00 GMT

Global professional services company Towers Watson (NYSE, NASDAQ: TW) has named Ashley Mims, senior consultant in its reinsurance brokerage business, the world’s fourth largest.

NAO Highlights PPF Fears of "Irrecoverable" Deficit

Fri, 5 Feb 2010 00:00:00 GMT

The Department for Work and Pensions has today published a series of regulations on the workplace pension reforms that are being introduced from 2012. A response to its recent consultation and a regulatory impact assessment for the new regulations has also been published.

Defined Benefit Plans Outperformed 401(k) Plans During 2007 and 2008, Towers Watson Analysis Finds

Wed, 3 Feb 2010 00:00:00 GMT

Rates of return for defined benefit (DB) pension plans outpaced those for defined contribution (DC) plans, including employee-directed 401(k) plans, in 2007 and also in 2008, when the economic crisis began to unfold, according to a new analysis by Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company.

PPF Confirms 68% Increase in Risk-based Levies for Strongest Employers

Tue, 2 Feb 2010 00:00:00 GMT

Employers assumed by the Pension Protection Fund to have least chance of going bust should brace themselves for higher PPF levies in 2011, according to Towers Watson.

Global Pension Funds Rebound in 2009

Mon, 1 Feb 2010 00:00:00 GMT

Global institutional pension fund assets in the 13 major markets increased by 15% during 2009, from US$20 trillion to over US$23 trillion, according to Towers Watson’s Global Pension Assets Study released today.

In 2010, Hiring Goes Hand in Hand With Targeted Workforce Reductions, Towers Watson Survey Finds

Thu, 28 Jan 2010 00:00:00 GMT

The U.S. employment picture looks mixed at best in 2010, with hiring picking up at a majority of U.S. organizations even as some plan to continue making targeted workforce reductions, according to a new survey by Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company. The survey did find signs of optimism, especially predictions that employee productivity and engagement will improve over the next year.

Health Care Reform Will Increase Costs, Reduce Benefits, Towers Watson Surveys Find

Wed, 27 Jan 2010 00:00:00 GMT

A significant majority of U.S. employers believe health care reform, if enacted, would lead to higher costs for both employer-sponsored benefit programs and health care services overall, according to initial results from an employer survey conducted by Towers Watson and the National Business Group on Health.

Towers Watson continues to expand Investment teams

Tue, 26 Jan 2010 00:00:00 GMT

Towers Watson has appointed David Holding and Gregory Jackson as investment consultants to its Investment teams in the UK.

Towers Watson Outlines Potential Effectiveness of Enacted and Proposed Policies for Florida Insurance Market

Mon, 25 Jan 2010 00:00:00 GMT

Global professional services company Towers Watson (NYSE, NASDAQ: TW) has examined several proposed or enacted state policy decisions during 2009 that were designed to begin to reshape Florida’s insurance market and strike a balance among the general price, availability and quality of property insurance.

High Fees Dampen Demand For Opportunistic Real Estate Investment

Mon, 25 Jan 2010 00:00:00 GMT

Towers Watson has turned positive about the strategic case for ‘opportunistic’ real estate investing, as part of a diversified long-term real estate strategy, but warns the associated fees for many vehicles are too high.

Funding Levels at Corporate Pension Plans Rebound but Remain Well Below 2007 Levels, Towers Watson Analysis Finds

Wed, 20 Jan 2010 00:00:00 GMT

Pension funding levels at large U.S. companies improved at the end of last year largely due to the rebounding stock markets. However, lower interest rates, which increased pension liabilities, continued to keep funding levels well below those in 2007, according to a new analysis by Towers Watson, a leading global professional services company. Furthermore, overall pension deficits remain substantial, and companies will need to make large contributions to their plans over the next few years.

More Than 1,000 Defined Benefit Schemes Closed To Existing Members Since 2000

Tue, 19 Jan 2010 00:00:00 GMT

Almost 1,200 defined benefit schemes closed to existing members between 2000 and 2008, according to figures published by the Pensions Regulator and the Pension Protection Fund this morning. One in five defined benefit schemes had closed to future accrual by March 2009.

Corporate Deal Makers Have Reason for Optimism, Based on 2009 Financial Analysis From Towers Watson Deal Monitor

Sun, 17 Jan 2010 00:00:00 GMT

Last year proved to be a reasonably good year for companies completing deals, especially those that closed transactions within their own borders, according to the latest Towers Watson Quarterly Deal Performance Monitor.

Auto-Enrolment - A Timetable But No Decision On The Big Issue For Employers

Wed, 13 Jan 2010 00:00:00 GMT

Ageing of Post-War Babies Piles Pressure on Default Retirement Age

Mon, 11 Jan 2010 00:00:00 GMT

Officially, the Government is still collecting evidence for its review of default retirement ages but an interview with Harriet Harman, the Leader of the House of Commons, in today’s Daily Mail hints that they may soon be abolished.

Towers Perrin and Watson Wyatt Complete Merger to Form Towers Watson

Sun, 3 Jan 2010 00:00:00 GMT

Towers Watson & Co. announced today the completion of the merger of Towers Perrin and Watson Wyatt. The transaction to form Towers Watson, a leading global professional services company, was announced on June 28, 2009. Watson Wyatt Chief Executive Officer John Haley will serve as Towers Watson’s Chairman and Chief Executive Officer; Towers Perrin Chief Executive Officer Mark Mactas will serve as Deputy Chairman, President and Chief Operating Officer.

Towers Perrin/Watson Wyatt Announce Shareholder Approval of Merger

Fri, 18 Dec 2009 00:00:00 GMT

Towers, Perrin, Forster & Crosby, Inc. and Watson Wyatt Worldwide, Inc. (NYSE, NASDAQ: WW), both leading global consulting firms, announced that at their respective special meetings of shareholders, each held earlier today, their shareholders adopted the merger agreement pursuant to which the companies will combine their businesses.

Towers Perrin/Watson Wyatt Merger Cleared by European Commission

Fri, 4 Dec 2009 00:00:00 GMT

Towers, Perrin, Forster & Crosby, Inc. and Watson Wyatt Worldwide, Inc. (NYSE, NASDAQ: WW), both leading global consulting firms, today announced that they have been granted conditional clearance from the European Commission to allow the Parties to proceed with their merger to form Towers Watson & Co. U.S. antitrust authorities previously cleared the transaction.

Towers Perrin and Watson Wyatt File Form S-4 as Part of Next Step in Creation of Towers Watson & Co.

Thu, 3 Sep 2009 00:00:00 GMT

Towers, Perrin, Forster & Crosby, Inc. and Watson Wyatt Worldwide, Inc. (NYSE, NASDAQ: WW) today announced that Jupiter Saturn Holding Company (“Jupiter Saturn”), the new entity formed as part of the merger process between Towers Perrin and Watson Wyatt, filed a registration statement on Form S-4 with the Securities and Exchange Commission.

Towers Perrin and Watson Wyatt to Combine to Form Towers Watson

Sun, 28 Jun 2009 00:00:00 GMT

Towers, Perrin, Forster & Crosby, Inc. and Watson Wyatt Worldwide, Inc. (NYSE, NASDAQ: WW) today announced that their respective Boards of Directors have unanimously approved a definitive agreement under which Towers Perrin and Watson Wyatt will combine in a merger of equals to form a new, publicly listed company called Towers Watson & Co.