2025 has been a year of sharp contrasts for risk. Extreme natural catastrophes, accelerating advances in artificial intelligence, and continued shifts in human security continue to reshape how the industry thinks about exposure, resilience and long-term strategy. The return of Willis Re has added new energy to that conversation, with a sharper focus on how science, analytics and practical insight can help clients stay ahead of emerging pressures.
The latest WRN newsletter brings together some of our most important work from the last quarter of 2025. Our Risk and Resilience Review looks deeper at human security, including how ageing populations and large scale disaster displacement are reshaping vulnerability, recovery trajectories and long term exposure models. We also feature new pieces on AI governance and adoption that look at how organisations can navigate uncertainty while building safe and effective AI strategies, including Anat Lior’s perspective and our wider analysis of fragmented AI decision making.
We round things out with highlights from our Nat Cat research, which continues to support re/insurance decision makers with insight on climate driven extremes, evolving hazard patterns and shifting accumulation profiles. From wildfire risk and European windstorm to the growing importance of so-called secondary perils, the research reflects a world where traditional boundaries between primary and peripheral risks are breaking down. For the re/insurance market, this shift has material implications for pricing, capital allocation and long-term resilience.
All of this work reflects how quickly the risk landscape is shifting, and how closely human, technological and natural systems are now linked. We hope this edition is useful as you navigate those changes in your own work.
The Willis Research Network
01
A global look at how rising human vulnerability is changing the way we understand, measure, and manage risk.
02
Disruption is now the norm, not the exception. Emerging risks are known but underprioritized; resilience needs embedding into strategy through interconnected risk frameworks, scenarios, and learning.
03
With global populations over 65 expected to double by 2050, aging is often seen as a risk multiplier. Yet it can also be a source of resilience.
04
While disaster risk frameworks have traditionally focused on property damage and direct economic losses, population displacement is emerging as a critical risk multiplier.
05
Melissa reminded markets that major storms still test portfolios, yet reinsurers remain resilient. Willis Re highlights how stable capital and disciplined underwriting help maintain balance as renewal discussions approach.
06
The potential for future wildfire loss in California is greater than recent patterns indicate, driven by expanded fire seasons, urban development, and rising reconstruction costs.
07
Artificial intelligence is transforming risk profiles across industries, and the insurance market continues to adapt. Can we expect policies to explicitly address AI in the near future, ending the silent coverage era?
08
Watch our latest webinar asking “Should the insurance industry steel itself to prepare for a permanent step-up for losses from severe weather?”
09
Observational records yield only loose constraints of possible natural hazards. By exploiting large ensembles of hazard data, we can increase confidence and understanding of probable tail risk.
10
At least 1,400 people have been killed by ongoing flooding in Sri Lanka, Sumatra, Thailand, and Malaysia. The ultimate toll is likely to be much higher, though. Meanwhile, floods appear to be getting more frequent and severe.
