Press Release

Stalwart of New Zealand insurance retires

June 6, 2017
| New Zealand
Willis Towers Watson Media         

Bret Taylor –
Senior Client Director

AUCKLAND 6 June, 2017 — Willis Towers Watson (NASDAQ: WLTW) today announced the retirement of Senior Client Director, Bret Taylor after a 50 year career in the insurance industry.

Willis Towers Watson New Zealand Chief Executive Officer Peter Lowe said Taylor leaves behind a wealth of experience working with the country’s biggest companies.

“Bret began his career as a cadet in the industry in 1968,” Lowe said. “Over that time he’s seen extraordinary change and growth and not only has he delivered great solutions and service, he’s helped shape the new breed of insurance broker that will continue to drive great outcomes for our clients.”

Lowe paid tribute to Bret Taylor’s contribution. “Bret has met every challenge over an incredibly dynamic period for New Zealand insurance and helped make the industry the success it is today. He has fulfilled most roles in the insurance industry from his humble beginnings, including leading one of the many legacy broking firms that operated in New Zealand during the 1980s. We’re proud he has chosen to close his career with us and we are thankful for his insight and acumen, and his generosity in passing on that experience to the next generation of broker.

“Following Bret’s example, I have every confidence that our team will continue to deliver great solutions and outcomes for a great number of high quality New Zealand companies.”

Bret Taylor said the industry must continue to innovate. “When I started in insurance, the landscape was incredibly different and I’ve seen the insurance market adapt rather well over the past 50 years to provide financial protection for the risks of the modern world and I’m sure this will continue. In fact, it must.”

Taylor said he was surprised to read recent statements from the Lloyd’s CEO that insurance covers only 10% of the risk that businesses face and that many risk managers reject the notion that insurers are innovative. Research in the past has revealed a proportion of around 25% of risks are insurable. He said brokers must take a more strategic role.

“Can brokers help shape the range of risks that insurance companies insure? Over my career I’ve seen the value brought by the broker who works with their client to identify the risks that could be disruptive and to develop a targeted insurance solution in concert with the insurance market. The case has recently developed, because of the Canterbury and Kaikoura earthquakes, for the insurance market in New Zealand to ‘break the mould’ so that it can now address types of business loss for which no practical insurance exists.”

About Willis Towers Watson

Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 40,000 employees serving more than 140 countries. We design and deliver solutions that manage risk, optimise benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas – the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.