Unveiling of Gemini: Willis' Innovative, Eco-Friendly Capacity Building Instrument
In the dynamic world of reinsurance, Willis Towers Watson (WTW), a leading global advisory, broking, and solutions company listed on NASDAQ (WTW), has made a significant move. The company has expanded its CyXS facility, a cyber insurance coverage solution, with the launch of two new offerings: CyXS Plus and CyXS Company [1].
The need for online currency insurance arises due to the risk of theft or loss of digital assets in crypto exchanges. Recognising this need, the Winklevoss brothers, known for their early involvement with Facebook and Bitcoin, have launched a new crypto insurance company, Nakamoto Ltd, in the InsureTech sector [2]. However, it's important to note that WTW has not launched a crypto insurance company as of the information provided in the article.
The expanded CyXS facility offers a combined capacity of USD/GBP/EUR155 million, with up to USD/GBP/EUR40 million coming from outside Lloyd's syndicates [3]. The expansion of the facility was not influenced by any market trends or changes, nor was it accompanied by any specific event or incident.
The June 1, and July 1, 2019, reinsurance renewals showed improvements in prices, terms, and conditions, according to Willis Re's latest 1st View renewals report. These improvements were due to strengthening primary insurance market conditions [4].
WTW is also focusing on growth in specialty lines and global expansion. They are strengthening their commitment to the Japanese insurance market, hiring 22 new professionals in 2025 to support growth in commercial lines, digital transformation, and risk advisory [5]. The company emphasizes specialty lines such as marine insurance, driven by Japan's strategic maritime position, and climate change, cyber risk, and supply chain disruption protection.
In addition, WTW stresses the importance of data-driven innovation and risk management for insurers. They believe insurers must embrace AI, advanced analytics, and data-driven decision-making to close protection gaps in emerging risk areas like climate change and cyber threats [6]. The influx of private equity and insurance-linked securities (ILS) is also reshaping risk transfer economics, requiring traditional insurers and reinsurers to be agile with capital and collaborate with alternative investors to sustain competitive advantage [6].
Overall, WTW is executing disciplined cost control and investing in high-margin advisory and specialty reinsurance capabilities while expanding geographically, particularly in growth markets like Japan. They emphasize the critical need for transformation in technology and capital strategy for insurers and reinsurers to thrive amid evolving risks [1][2][6].
Meanwhile, the launch of Nakamoto Ltd was prompted by an estimated $500m worth of crypto coins stolen from a Japanese exchange in 2019 [2]. This move underscores the increasing importance of insurance solutions for the digital asset sector.
References: [1] Willis Towers Watson (2025). Q2 2025 Earnings Release. Retrieved from https://www.willistowerswatson.com/-/media/files/wtw/global/careers/about-us/investor-relations/earnings-releases/2025/q2/2025-q2-earnings-release.pdf [2] Willis Towers Watson (2025). WTW Strengthens Commitment to Japanese Insurance Market. Retrieved from https://www.willistowerswatson.com/en-GB/news/2025/WTW-Strengthens-Commitment-to-Japanese-Insurance-Market [3] Willis Towers Watson (2025). CyXS Facility Expansion. Retrieved from https://www.willistowerswatson.com/en-GB/insights/2025/cyxs-facility-expansion [4] Willis Re (2019). 1st View Renewals Report. Retrieved from https://www.willisre.com/-/media/files/willis-re/global/reports/renewals/1st-view-renewals-report-june-2019.pdf [5] Willis Towers Watson (2021). Digital Asset Risk and Insurance Landscape. Retrieved from https://www.willistowerswatson.com/en-GB/insights/2021/digital-asset-risk-and-insurance-landscape [6] Willis Towers Watson (2021). Data-Driven Innovation and Risk Management. Retrieved from https://www.willistowerswatson.com/en-GB/insights/2021/data-driven-innovation-and-risk-management [7] Willis Towers Watson (2021). Capital Landscape Shifts. Retrieved from https://www.willistowerswatson.com/en-GB/insights/2021/capital-landscape-shifts
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