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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Willis Towers Watson Public Limited Company    WLTW   IE00BDB6Q211

WILLIS TOWERS WATSON PUBLIC LIMITED COMPANY

(WLTW)
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Energy transition will have transformative effect on Mining sector, according to Willis Towers Watson

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09/16/2020 | 04:31am EDT

LONDON, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Climate change and Environmental Social Governance (ESG) will transform the energy industry risk landscape, according to Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking, and solutions company, at the launch of its annual Mining Risk Review. This transformation is taking place against the backdrop of the impact of both the COVID-19 pandemic and a rapidly hardening global insurance marketplace.

ESG forms the key theme of the report, highlighting that the transition to a low carbon economy requires a fundamental reappraisal of mining company climate risk; the Review shows that achieving a satisfactory ESG rating will be critical in enabling mining companies to attract and maintain the support of key stakeholders in the future.

Other key highlights of the report from an insurance market perspective were:

  • Capacity: theoretical capacity levels remain broadly similar to last year, although line sizes continue to become increasingly restricted. While in previous years, Willis Towers Watson have reported major insurers withdrawing from coal mining risks, it seems that lobbyist pressure has now moved on to insurers’ involvement in other industries, with only one global insurer pulling out of coal this year.

  • Losses: It is still too early to provide full details of the significant impact that COVID-19 will have on the Liability and D&O sectors. However, following a series of disastrous losses in 2018 and 2019, the Property loss record for mining seems to be improving, unlike other sectors.
  • Rating levels: for Property business, rating increases are still modest in comparison to other heavy industries, but retention levels, terms & conditions and sub-limits are all now being significantly affected by the hardening process. However, for the Liability and D&O sectors, rating increases are now much more pronounced.

  • Underwriting data: the new levels of data required by insurers in terms of underwriting information are proving challenging to buyers; in particular, insurers’ scrutiny of their schedule of values and a growing tendency to impose price caps on both Property and Business Interruption amounts.

Graham Knight, Head of Global Natural Resources, Willis Towers Watson, said: “In these unprecedented times, the mining industry finds itself beset by challenges from all sides, as COVID-19 tightens its stranglehold on the global economy and insurance market conditions harden. However, it is the issue of climate risk and ESG that will have a more significant impact on the future shape of the industry. Mining companies must incorporate ESG, above all climate change into their risk mitigation strategies in order to survive in the future.”

He added: “Mining companies need to know how the energy transition is going to affect their industry, why climate change is already transforming their industry risk landscape, how they can play a strategic role in developing their response to this transition and which ESG pressures are going to affect the industry in the future. At Willis Towers Watson, we are helping mining companies navigate this complex risk terrain and manage the transition.”

A full copy of the report can be found at https://willistowerswatson.turtl.co/story/mining-risk-review-2020-ungated/

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 45,000 employees serving more than 140 countries and markets. We design and deliver solutions that manage risk, optimize 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.

Media contact

Sarah Booker +44 (0)7917 722040

sarah.booker@willistowerswatson.com

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© GlobeNewswire 2020

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Financials (USD)
Sales 2020 9 309 M - -
Net income 2020 1 096 M - -
Net Debt 2020 4 558 M - -
P/E ratio 2020 21,9x
Yield 2020 1,49%
Capitalization 23 523 M 23 523 M -
EV / Sales 2020 3,02x
EV / Sales 2021 2,84x
Nbr of Employees 45 000
Free-Float 99,7%
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Number of Analysts 15
Average target price 232,08 $
Last Close Price 182,48 $
Spread / Highest target 43,6%
Spread / Average Target 27,2%
Spread / Lowest Target 10,7%
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John J. Haley Chief Executive Officer & Executive Director
Victor F. Ganzi Non-Executive Chairman
Alexis Faber COO-Corporate Risk & Broking Segment
Michael J. Burwell Chief Financial Officer
Anna Cheng Catalano Independent Director
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