Hong Kong – Willis, a WTW company, has named Steve Hutchinson as Head of Property and Casualty (P&C) for Hong Kong and Macau, effective May 2, as the firm sharpens its focus on navigating shifting global risk landscapes.
Hutchinson, a seasoned insurance and broking professional with over two decades of experience in the UK and Asia, most recently served as Chief Broking Officer at Howden Insurance Brokers in Hong Kong. In his new role, he will report to Iris Chan, Head of Corporate Risk & Broking for Hong Kong and Macau.
“We are thrilled to welcome Steve to Willis,” said Chan. “His extensive experience and deep understanding of the market will bring fresh perspectives and innovative solutions to our P&C business. We are confident that his leadership will enhance our ability to deliver exceptional service to our clients.”
Hutchinson succeeds Phil Timms, who will transition to a new role as Managing Director for Large Account Clients in Hong Kong, a move aimed at bolstering engagement with major corporate policyholders.
Leadership Realignment Amid Market Shifts
The leadership transition comes as insurers and brokers respond to complex global market dynamics. According to Aon’s Q4 2024 Global Insurance Market Insights report, while capacity has improved for certain well-performing property risks, insurers remain cautious in catastrophe-prone regions. In casualty lines, conditions remain mixed, with litigation-heavy sectors—particularly those tied to U.S. exposures—continuing to face upward pricing pressure.
Aon also noted that excess liability lines are experiencing continued premium growth, driven by regulatory and legal factors such as social inflation, nuclear verdicts, and emerging environmental liabilities like PFAS. As a result, underwriters are applying more stringent scrutiny and expanding policy exclusions.
These developments are pushing risk managers in Asia to explore alternative solutions such as captives, structured reinsurance, and parametric insurance to manage volatility and complex exposures.
Expansion in India
Further strengthening its regional capabilities, Willis has also appointed Anant Pawar as Head of Aviation and Space Insurance in India. Pawar brings more than 27 years of expertise in aviation, liability, and reinsurance, previously playing a key role at Global Insurance Brokers Private Limited.
In his new position, Pawar will focus on driving growth in India’s aviation sector by offering tailored insurance and advisory services aligned with the evolving needs of the aerospace industry.
These appointments underscore Willis’s strategic intent to deepen its footprint and deliver specialized risk solutions across Asia’s dynamic insurance markets.
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