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Willis Research Network Q3 2025 Newsletter

September 29, 2025

We’re delighted to be back under our original name, Willis Research Network, within the WTW family - small but important reminder of the continuity and legacy of a network that has now been driving innovation in risk and resilience for nearly two decades.

This quarter we look at themes that go to the heart of today’s risk conversation. Twenty years after Hurricane Katrina, we explore whether the industry is truly prepared for the next $100 billion loss, a question that is less about “if” than “when.” At the other end of the spectrum, the sudden collapse of Switzerland’s Blatten Glacier is a stark signal of how fragile our physical systems are becoming, and the implications of climate volatility for underwriting, accumulation management and client resilience.

The mid-year Natural Catastrophe Review provides grounding in the numbers and trends shaping the season so far. It includes new insights on wildfire modelling and European windstorm, two areas where recent events have shown the need to continually test and refine our understanding of exposure.  Our Natural Catastrophe Seminar Series brings these issues into focus for the market. Our most recent session on 25 September focused on the future of urban wildfire risk, whilst on 6 November we will shine a light on severe convective storms, long treated as a secondary peril but increasingly a primary driver of U.S. loss. It is an important opportunity to hear directly from experts on what this shift means for risk management, reinsurance strategy and pricing.

Finally, we turn to demographics and human vulnerability. Ageing populations, climate driven migration and shifting urban resilience are reshaping exposure in ways that touch almost every line of business. Understanding these changes is not just about managing liabilities. It is about anticipating how risk itself will evolve and ensuring that the industry is ready to respond with solutions that strengthen resilience.

We trust this edition provides useful context and supports your continued efforts to understand and manage an increasingly complex global risk environment.

The Willis Research Network

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